It’s been a big couple of months for Hydrix Ltd [ASX:HYD].
This tiny stock exploded back to life back in mid-August after a two-and-a-half-year decline. A shocking breakout from a company that looked to be going nowhere fast.
Because today, roughly two weeks since our last update, Hydrix is making headlines once more. Once again making some incredible headway with their heart attack warning system: AngelMed Guardian.
And that has seen the HYD share price spike 64.81% higher at time of writing!
Making ground in the US
Overnight, Hydrix reported that they completed the first implant of the Guardian device into a US patient. Just another important milestone for the rising medtech stock.
As the surgeon who performed the operation notes:
‘The AngelMed Guardian represents a real game changer in the management of coronary artery disease.
‘This is the first ever surveillance tool for patients with a prior coronary event and has the potential to save countless lives and bring peace of mind to thousands of families. It is a great honour to be involved in this amazing technology.’
An impressive endorsement for the Guardian device and Hydrix.
However, more importantly, this will just be the first of more implants to come.
As Hydrix revealed, the FDA has approved 260 more clinical patients — as part of a previous trial — to receive the devices. Furthering the ongoing ‘Continued Access Study’ that Hydrix is facilitating. A program that will upgrade users of older devices to the newer Guardian systems.
Which is not only another ringing endorsement of the technology, but allows Hydrix to support earlier pioneers. With AngelMed’s CEO Gordie Nye commenting:
‘We are thankful to the FDA for allowing us to perform this study so that our previous ALERTS patients may get the AngelMed Guardian back.
‘These pioneers still to this day remain pivotal to our success and we as a company are excited for the road ahead as we move closer to commercialization.’
Exciting times for all involved.
What’s next for Hydrix, and medtech?
The good news for Hydrix shareholders is that the stock is booming today. Recovering some of the losses it has made since the August spike.
Whether it will be able to sustain this momentum though is the ultimate question. The stock, while resilient, has proven quite volatile in recent months. Surging on good news and then slowly declining in the days and weeks following.
For that reason, the long-term potential of Hydrix is tough to categorise.
However, their involvement in the medtech sector is definitely a plus. An industry that looks set for strong growth and demand into the foreseeable future.
Indeed, it is a market that we’ve covered several times here at Money Morning. So, if it is something that you’re interested in learning more about, check out our daily e-letter.
For Money Morning