Medical imaging company Resonance Health saw its shares rocket nearly 131 per cent on Monday after revealing at had received US regulatory approval for its FerriSmart device.

Shares hit an intra-day high of 6c, with nearly 40 million shares changing hands by 11.30am AEDT.

Resonance describes its FerriSmart device as a “ground-breaking” machine learning solution for the quantification of liver iron concentration.

It automatically analyses MRI images from most scanner makes and models and returns a liver iron quantification result within seconds.

Resonance has now received clearance from the US Food and Drug Administration to market FerriSmart in the US.

Earlier this year the company received approval to market the device in Australia and Europe.

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