Proteomics notches up as company launches PromarkerD into the US

Proteomics notches up as company launches PromarkerD into the US

Jonathon Davidson

The Market Online, Australia

Proteomics (ASXIQ) has seen shares pop just over +4% in early Friday trades after launching its PromarkerD product into the US on the back of the 85th Scientific Sessions of the American Diabetes Association (ADA).

PromarkerD is a blood test that can predict, up to four years before symptoms emerge, patients likely to develop diabetes-related kidney disease.

The early prevention value prop is obvious and is the company’s “value add” to existing products. Getting a prick for diabetes is nothing new, but the company hopes to stand at the fore of early prediction disruptors.

The conference at which it’s unveiling PromarkerD is described by Proteomics as “the largest gathering of diabetes professionals in the world.”

PromarkerD tests will “initially” be available in California; the company has also established a US clinical reference laboratory in the States.

“We’re excited to introduce PromarkerD to the US at such a prestigious event,” PIQ MD Dr. Richard Lipscombe said.

The disclosure also included commentary from “Renowned diabetes care and nurse practitioner Davida Kruger,” who wrote: “PromarkerD represents a paradigm shift in diabetes care. Early identification of patients at risk for kidney disease allows clinicians to implement preventative strategies.”

While the news has brought PIQ’s share price up to 36.5cps, it’s perhaps still got a bit of an illiquidity problem. only $33,000 worth of shares had traded hands as of 10.40am AEST; 1Y returns are down nearly -60%.

PIQ last traded at 36.5cps.

Jonathon Davidson

The Market Online, Australia

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