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4D Medical (ASX:4DX) shares soared over +30% intraday as the company’s the latest biotech to come to the market with news of an FDA approval – for a biotech stock, the same thing as hitting bonanza gold grades.
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This now leaves 4DX with “the world’s first and only non-contrast, CT-based ventilation-perfusion imaging technology” cleared for use in the U.S. In recent years, 4DX has been turning its attention to U.S. DoD-backed applications around veterans’ lung health when it comes to those exposed to ‘burn pits,’ a high-risk way to dispose of trash when it comes to having soldiers destroy equipment.
Right now, veterans’ lung imaging tech is carried out by using more traditional scans relying on radioactive materials for imaging; 4DX believes it may be able to disrupt not just part of this market but all of it.
“With over one million nuclear VQ scans performed annually in the U.S., [this sector] has an initial addressable market of USD $1.1 billion… 4DMedical believes it can rapidly capture a significant part of this market, and over time expects to displace 100% of all nuclear VQ scans,” the company wrote on Monday. No small claim.
Company founder and CEO Andreas Fouras described the development in terms of medical history. “For the first time in history, doctors can order a lung perfusion scan without requiring their patients to be injected with any radioactive tracer or contrast media,” he said.
“And unlike historical advancements in medical imaging, such as the introduction of MRI, this technology is instantly compatible with an install base of 14,500 CT scanners already deployed across the US.”
4DX last traded at 76cps on Monday afternoon.
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