4DMedical Ltd Share Price Rises on New Medical Program [ASX:4DX]

4DMedical Ltd [ASX:4DX] rose 7.23% to trade at $2.52 at time of writing.

The company announced a new research program with the University of Miami focused on functional lung imaging.

4DX ASX

Source: Optuma

What’s the new program about?

The new program will see 4DMedical and the University of Miami Health System establish the Functional Lung Imaging Research Program to advance breakthrough lung technologies.

The functional lung imaging research program will see the company use its proprietary XV Technology.

The goal is to improve treatment outcomes for those with lung disease.

This research is expected to deliver several studies that will include patients with diseases such as emphysema, cystic fibrosis, pulmonary hypertension, pulmonary embolism and lung cancer.

Henri Ford, MD, MHA, Dean and Chief Academic Officer of the Miller School of Medicine said:

Working with 4DMedical exemplifies our commitment to harness innovative technology in the quest for comprehensive treatment options for our patients.

Effective treatment protocols require an accurate understanding of the disease’s presentation.

Where can this take 4DMedical?

4DMedical is only a new addiction to the All Ords [ASX:XAO], listing in August 2020.

While it may be new, there is a lot of potential with the respiratory diagnosis being a US$31 billion per annum global industry.

There is lot of room for growth.

Looking at the chart below, you can see the price sits above the level of $2.46 at time of writing. If it keeps moving up, the level of $2.76 may provide future resistance.

4dx asx

Source: Optuma

On the downside, should the price fall back then the levels of $2.46 and $2.09 may be enough to halt the fall.

4DMedical currently holds a market cap of $391.31 million. This year there is a larger than normal focus on lungs and respiratory health due to the COVID-19 pandemic.

Who knows what issues the virus will leave behind in the patients of COVID-19.

The studies being done and the technology from 4DMedical may become very important in the future.

Potentially sending the share price up.

Our publication, Money Morning, is a fantastic place to start on your investment journey. We talk about the big trends driving the most innovative stocks on the ASX. Learn all about it here.

Regards

Carl Wittkopp

For Money Morning


Carl Wittkopp writes for Money Morning and has a diploma in Financial Planning. He specialises in technical analysis.

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