Join our daily newsletter At The Bell to receive exclusive market insights
Painchek (ASX:PCK) shares dipped red on Monday following the company’s news it’s inked a deal with Jewish Home Family, an aged care facility in New Jersey, as part of a US$26,000 (A$40,000) three-year contract offering exposure to its flagship monitoring app.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
To be fair, it’s hard to find a stock that isn’t red on Monday, following fresh tariff threats from Donald Trump in the U.S. But share price movement on Monday likely reflects investor psychology broadly left wanting more.
The company’s share price spiked on no news the day before it won an FDA approval in the States to distribute its app in healthcare (aged care) settings; when it did win that approval, the price shot to 10cps before heading back down to 6cps. While this finance journalist isn’t alleging any kind of criminal conduct on Painchek’s part, it does appear the stock was targeted by pump-and-dumpers.
What will likely prove most important is whether the company can leverage its foot-in-the-door with JHF to swing other, perhaps more lucrative, contracts. To that end, the company has already teamed up with other aged care operators in the U.S., hoping to get its product on as many desks as possible.
“FDA De Novo clearance validates our technology and opens the door to the world’s largest aged care market,” PainChek CEO Philip Daffas said.
“Partnering with Jewish Home Family, an organisation known for its innovation and quality of care, sets a strong precedent for our US expansion and provides PainChek an important and influential reference center.”
PCK last traded at 6cps.
Join the discussion: See what HotCopper users are saying about PainCheck Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
