ResApp releases sleep apnoea news – but only after tap on the shoulder from ASX
Health & Biotech
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A query from the ASX has pushed SmartCough app maker ResApp into unveiling its latest development, after its shares began a run last week.
ResApp (ASX:RAP) told the market it was developing an obstructive sleep apnoea screening test using a smartphone to diagnose snoring from a bedside table.
Its shares were trading up as much as 7 per cent higher at 18.7c on the news on Tuesday, but last week they surged from 12c on April 3 to 18c on Monday before the company went into a trading halt.
The company responded to price query from the ASX, saying it was aware of information relating to its clinical studies that had not been announced and immediately released the information to the market.
Preliminary results from its study achieved 86 per cent sensitivity and 83 per cent specificity for identifying patients with moderate and severe sleep apnoea, compared to current scoring criteria.
“There is a strong clinical and economic need for reducing the number of undiagnosed sleep apnoea sufferers and by utilising a smartphone we have the opportunity to deliver a highly-scalable, accurate and easy to use screening test to the mass market,” chief and MD Tony Keating told the market.
“By leveraging our expertise in using audio signatures to identify respiratory conditions we have created another large commercial opportunity.”
The company is currently recruiting patients for a prospective study and is planning a regulatory submission by the end of this calendar year.
The latest development comes as the company’s second study progresses in the US.
This time around, the company is directly reviewing the audio recordings and conducting independent quality assurance to prevent the poor results from the first trial.
ResApp’s first trial failed after the company “misjudged the complexities of the US emergency department system and the challenges of running a clinical trial in a US emergency department”.