Health: ResApp popping bottles in the ice as cough app finally gets approval; shares fly
Health & Biotech
Health & Biotech
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After a long, tortuous, at times maybe even hopeless, wait, coughing app maker ResApp (ASX:RAP) finally has something to truly celebrate: its device has been approved for use in Europe.
The company announced today that ResAppDx-EU, a smartphone-based diagnostic test for acute paediatric respiratory disease, had received CE Mark certification as a Class IIa medical device.
RAP shares jumped 47 per cent to 22c on the news, their highest point since October last year. Shares have fluctuated between lows of 6.9c and highs of 28c over the past year as the company has sweated on the outcome of US and European applications.
ResApp has several other indications for which it is hoping its device can be used as a diagnostic tool, including lower respiratory tract disease, asthma and reactive airway disease, and primary upper respiratory tract disease.
“We are very excited about receiving our first regulatory approval for ResAppDx-EU, our flagship acute diagnostic product,” said Tony Keating, CEO and managing director.
“This is our biggest achievement yet and results from many years of hard work by our dedicated team. For the first time clinicians in Europe will have access to a rapid and accurate diagnostic test for the most commonly seen acute respiratory conditions in children. ResAppDx-EU has the potential to have far-reaching benefits in the healthcare system and we will now rapidly move ahead with our European commercialisation strategy.”
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