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- CardieX (CDX) was up more than 30 per cent this morning after expanding two clinical trials with existing customers
- The company’s subsidiary, ATCOR Medical, will expand the existing contracts with AstraZeneca and Bayer for the supply of the XCEL device
- XCEL measures the central blood pressure in adult patients
- The extended contracts have added more than $918,000 in contract value
- Company shares have dropped slightly however, they are still 12.5 per cent in the green and trading for 1.8 cents each
CardieX (CDX) was up more than 30 per cent this morning after expanding two clinical trials with existing customers.
The company’s subsidiary, ATCOR Medical, will expand the existing contracts with AstraZeneca and Bayer for the supply of the XCEL device.
ATCOR will also provide data management services for the full period of the trial.
The XCEL device is the only FDA (Food and Drug Administration) cleared device for measuring central blood pressure in adult patients.
It uses traditional blood pressure cuffs to measure blood pressure but it also maps the shape of the pulse waveform in the upper arm.
The device is used by clinicians, research institutions and pharmaceutical companies to monitor critical hemodynamic data (blood flow) during patient treatment and drug trials in multiple clinical settings and multiple disease states.
AstraZeneca originally contracted ATCOR in October 2018 to provide clinical services and devices with a contract value worth US$226,000 (AUD$359,995).
The total value of this contract has now been increased to US$340,217 (AUD$541,932).
Bayer contracted ATCOR in December 2017 to provide clinical services and devices with a contract value of US$756,000 (AUD$1.2 million).
This contract has now been extended to US$1.261 million (AUD$2 million).
In addition to these contracts, CardieX is expecting further changes in additional existing trials as well as new trial contracts in the immediate future.
This will add significant new incremental revenue for CardieX in 2020.
Company shares have dropped slightly however, they are still 12.5 per cent in the green and trading for 1.8 cents each at 11:29 am AEDT.
