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TrivarX (ASX:TRI) is locked in for an unusual tech-test trial on US Veterans: trying to detect depression by monitoring heart rates.
The company has been gearing up for this since early-ish last month when the company first flagged it was approaching US Veterans’ Affairs (and then immediately went into a trading halt.)
Still, at this current time, potential upside from placement within the US defence sector ecosystem is a fairly obvious value prop.
As for the defence sector with an eye to procurement, perrhaps part of the reason why TrivarX could travel far in that muddied landscape is because its algorithm-based heart monitoring tech can be ‘attached’ to existing ECG machines.
In short, TrivarX is really more of a software company than a healthcare company. And that nimble-footed nature could be of use to it in penetrating the US defence sector space generally.
At any rate, its upcoming and now-approved trial is to be carried out alongside the Greater Los Angeles Veterans Research and Education Foundation (GLAVREF) and the United States Department of Veterans Affairs respectively.
Without doubt, part of the calculus behind investors’ collective actions pushing shares up 8.3% in late lunch trades to 1.3cps.
“The Company is now focused on finalising site selection and patient recruitment initiatives. Given the work undertaken to date, we expect first enrolments in the coming weeks with results to follow 12- weeks after. Additional updates in this regard will be made as developments materialise,” TRI NEC David Trimboli said.
TRI last traded at 1.3cps.
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