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ResApp Health (ASX:RAP) spends March quarter developing tech

Health Care
ASX:RAP
30 April 2021 12:40 (AEST)
ResApp Health (ASX:RAP) - Managing Director & CEO, Dr Tony Keating

Source: ResApp Health

ResApp Health (RAP) has spent the March quarter advancing its ResAppDx device and developing a COVID-19 screening test.

ResAppDx

The ResAppDx devices uses machine learning algorithms to analyse the sound of a patient’s cough to diagnose diseases and provide quick and accurate information.

It is a software-only solution that runs on smartphones, meaning it does not require any additional hardware or accessories.

Medgate AG trial

In early March, telehealth services provider Medgate began a three-month pilot trial of ResAppDx in Switzerland.

The aim of this trial is to assess the impact of ResAppDx on Medgate’s telehealth services.

Ilara Health

Commercial discussions are continuing with Kenyan-based health technology company Ilara Health regarding the launch of ResAppDx in Kenyan facilities.

ResApp believes it will be able to provide a more detailed update shortly.

U.S. FDA pre-submission

In mid-February, ResApp filed a pre-submission package with the U.S. Food and Drug Administration (FDA).

The package allows the FDA to provide feedback on a product before a 510(k) is submitted which determines whether a product is safe and efficient to use.

Additionally, a meeting has been requested to discuss approval pathways.

COVID-19

In March, ResApp announced it would be undertaking a clinical study to see if its technology could detect COVID-19.

The aim of this study is to obtain data and train an algorithm to identify COVID-19 through cough sounds.

Patients will cough into ResApp’s technology and then use an at-home saliva kit made by genomics and diagnostics company Phosphorous.

Study start-up is underway and patient recruitment is expected to begin shortly.

Corporate

Mike Connell was appointed Vice President, Commercial, a role in which he will pursue global commercial activities and progress ResApp’s growth strategy.

Mike has more than 10 years’ experience in the healthcare sector and has worked with the likes of Medibank and GlaxoSmithKline (GSK).

Finances

ResApp burnt through $957,000 in the quarter with the majority going towards staff costs.

The company also invested $23,000 in property, plant and equipment.

As of March 31, ResApp had a cash balance of $3.2 million.

“ResApp has made strong progress during the quarter across all key focus areas,” CEO and Managing Director Dr Tony Keating commented.

“During the current period, we expect to secure agreements with new partners to drive product uptake as well as achieve a number of key milestones,” he said.

“These include first patient recruitment for the clinical study into the relationship between cough sounds and COVID-19 which in an important step in the development of a rapid COVID-19 screening test that only requires a smartphone,” he added.

ResApp is steady on the market and shares are trading at 5.6 cents at 11:54 am AEST.

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