Cough app maker ResApp soars 48pc after confirming new US trial
Health & Biotech
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Shares in “SmartCough” app maker ResApp jumped almost 50 per cent yesterday after the software maker dismissed earlier poor trial results and made plans to restart the study.
ResApp develops smartphone apps which use cough sounds to diagnose and measure the severity of respiratory conditions.
ResApp boss Tony Keating last month told Stockhead he had underestimated the challenge of testing inside a hospital emergency department.
“I’m very disappointed for my shareholders, who have obviously taken a big hit from this,” he said at the time.
Today Mr Keating said a review of the study “was not a reliable evaluation of ResApp’s algorithms and that the top line results do not reflect the actual performance of ResApp’s technology”.
“The environment and the clinical diagnostic procedures in busy US hospitals differed more than expected from those encountered during our Australian studies.
“It is now clear that we must employ several enhancements to properly execute our second US study. We are confident that the next study will be robust.”
“As previously announced, ResApp plans to restart the study this US winter after implementing an array of enhanced procedures and features developed in collaboration with the participating hospitals.”
ResApp closed up 48 per cent at 10c.