4DX - 4DMedical Limited

[Dona Ferentes]

Lung imaging software company 4DMedical has secured almost $70 million in funding from a mix of government and institutional investors to develop a lung scanner that emits a fraction of the radiation of a CT machine.

It is a long-held goal for 4DMedical chief executive Andreas Fouras, who envisaged creating a lung scanning device that emits a fraction of the radiation of a CT machine. when he founded the company in 2012.

"Our current XV technology is the only product that connects to existing equipment all around the world and offers the very best scan possible today. The XVD product is an offering that will sit side by side with the existing hospital equipment out there", Dr Fouras said.

"We have a clear timeline, we've done our homework. We expect to have a system in an Australian hospital early next year, then we expect to be in front of the regulator later on in that year and then the year after (2023) we'll have product in the market. We already have some customers saying they want this product. The level of interest is very solid, it is international and it's even from folks that aren't exposed to the XV technology currently."

At present, lung imaging is traditionally done on a CT scan machine, which allows radiologists to look at different levels, or slices, of the lungs using a rotating X-ray beam. While that gives an overall picture of how much air the lungs take in, with 4DMedical's software in the market today, analysts can determine if there are parts of the lungs getting less air.

The downside of these scans, however, is the high amount of radiation they involve, in comparison with an X-ray.

The first iteration of 4DMedical's XVD Scanner, Dr Fouras says, will have a similar level of radiation to an X-ray (about 1 per cent of the amount of a CT scan), while the second generation of the product they intend to have 10 times less the radiation of a traditional X-ray, or 1000 times less than a CT. The scans will also be faster, taking just 10 seconds versus six minutes in a CT....

 

[Dona Ferentes]

But, after it closed an oversubscribed $40 million placement to institutional investors, priced at $1.55, they are only wanting to take in $1M from shareholders in the SPP (closed today).

I feel a scaleback coming on; especially as the last few days, trading has lifted from low $1.50's to above $2, settling at $1.78

 

[Dona Ferentes]

The SPP was strongly supported by existing eligible shareholders and was substantially oversubscribed. The Company received 1,873 applications totalling approximately $32 million at the issue price of $1.55, the same issue price as the successful $40 million institutional placement completed on 4 March 2021.

Given the response to the SPP and to accommodate the outstanding support of existing shareholders, 4DMedical’s Board of Directors has exercised its discretion to increase the SPP offer to $6 million from the original $3 million targeted.

.... still going to shrink (... scale back will take into consideration the number of shares applied for by eligible shareholders under the SPP, as well as the number of shares held )

• Strong balance sheet position with cash balance exceeding $80 million

 

[Dona Ferentes]

Ah, the discreet charm of management

The SPP was strongly supported by existing eligible shareholders and was substantially oversubscribed. The Company received 1,873 applications totalling approximately $32 million at the issue price of $1.55, .... 4DMedical’s Board of Directors has exercised its discretion to increase the SPP offer to $6 million from the original $3 million targeted.
(... scale back will take into consideration the number of shares applied for by eligible shareholders under the SPP, as well as the number of shares held )

put in for $12,500 and got 1451 at a total cost of $2249.50.

And 4DX closed at $1.70 today

 

[Dona Ferentes]

Not a happy five days for 4DX

 

[Dona Ferentes]

maybe 4DX has gone as low as it is likely to (touched $1.15 a fortnight ago) as there is a bit of volume driving shares up 10c to $1.40 today..

Last chance for tax loss selling?

 

[Dona Ferentes]

for some reason, this Ann was not Market Sensitive. ... but up 10%

4D MEDICAL SECURES COMMERCIAL CONTRACT WITH MULTINATIONAL PHARMACEUTICAL COMPANY

Highlights
• 4DMedical has signed a contract with multinational pharmaceutical company Novartis for the commercial use of XV Lung Ventilation Analysis Software (XV LVAS™)
• XV LVAS will be used to assess patient outcomes in a clinical program focused on validating pharmaceutical therapies to treat Chronic Obstructive Pulmonary Disease (COPD)
• The clinical program will be conducted at the University of Miami in the U.S., as part of 4DMedical’s Functional Lung Imaging Research Program
• This contract represents the first commercial use of XV LVAS in the pharmaceutical industry

 

[Dona Ferentes]

Highlights
• Cash reserves $80.9m, with nil debt
• Total income $5.8 million, up 71%, including sales revenue $0.2m (excludes the Preclinical Scanner sale contract with University of Michigan)
• Operating costs $24.5m, up 52%
• Net loss after tax $21.4m, down 3%
• Successful Initial Public Offering raising $50.0m of new capital
• Obtained TGA Class 1 approval for XV Lung Ventilation Analysis Software (XV LVAS)
• ALHI awarded $28.9m from the Australian Federal Government's MRFF to fund the development and commercialisation of the world’s first dedicated lung scanner .... XVD Scanner™
• Subsequently completed a $46.0m capital raising to support the XVD Scanner and provide balance sheet flexibility for future growth opportunities
• Secured streamlined access to U.S. Department of Defense and Veterans Affairs contracts
• Eight clinical trials and three clinical pilots currently active at leading medical institutions

"Over the past 12 months, we have made important steps towards commercialisation via our clinical trial and clinical pilot programs. The Company currently has eight clinical trials at some of the world’s most innovative and renowned hospitals, well ahead of our initial expectations. In combination with our clinical pilots, these activities are integral to driving awareness and adoption of XV LVAS as key opinion leaders in specific indications use and familiarise themselves with our technology.

"We have seen a significant shift in momentum in the past few months, with our pipeline of clinical trials and pilots experiencing significant growth. Additionally, 4DMedical has been highly successful in attracting top class talent during the year, doubling our headcount to 95 employees over the period, ensuring that we are well placed to achieve our commercialisation goals in FY22 and beyond."

 

[Dona Ferentes]

been more selling, now $1.20. Hoping this will mark a turn around

First commercial scans with I-MED to commence in December

• Commercial rollout of XV LVAS™ software with I-MED, Australia’s largest diagnostic imaging provider, commencing with an initial clinic in December 2021, with two more to follow in early 2022
• Commercial arrangement follows completion of 4DMedical’s detailed 12-month pilot program with I-MED and follows overwhelmingly positive feedback from radiologists and patients
• First revenues from I-MED will be received with commencement of commercial rollout
• Broader commercial expansion across the I-MED network is subject to successful rollout of the initial clinics
• I-MED has nationwide coverage representing significant opportunity for XV LVAS™ in Australia alone
• 4DMedical has a strong near-term commercialisation pipeline in the large, valuable US market, in particular within the Veterans Affairs healthcare system
• Strong cash position with $72.2 million held as at 30 September 2021 and well-funded to scale-up and execute commercialisation opportunities .

 

[Dona Ferentes]

gapped up on news, but has been a disappointing medtech play. Got down to 60c and now 85c.

Highlights
• 4DMedical has successfully developed the world’s first and only dedicated lung scanner, deploying an XV Scanner ahead of schedule at the Prince of Wales Hospital in Sydney
• 4DMedical will unveil the XV Scanner today at a ceremony involving Greg Hunt, Federal Minister for Health, industry partners and the University of New South Wales
• The XV Scanner integrates 4DMedical’s proprietary XV Technology™ software into a dedicated lung scanner
• This new product offers multiple pathways to drive the Company’s commercialisation plans

(bailed earlier, at small loss)

 

[debtfree]

I must agree, it has been disappointing. I thought I'd put up a weekly chart to display the action.
Finally hitting a low of 0.32 in June, price did moved upward and is now going sideways. Volatility has narrowed, EMAs are close together and there has been a bit of interest in a few of the bars.
Is this the turning point of the downtrend? I don't know but it could be and only time will tell.

 

[Dona Ferentes]

Good news, eventually.

Respiratory imaging technology company 4DMedical Limited today announces a significant milestone in its commercialisation journey with the signing of a five-year contract with the University of Miami to provide XV LVAS® (X-ray Velocimetry Lung Ventilation Analysis Software) ventilation reports.

Expanding on existing relationship 4DMedical has established a strong relationship with the University of Miami where joint clinical research is
underway demonstrating the clinical value of XV Technology® across a range of indications, including Chronic Obstructive Pulmonary Disease. COPD represents a significant worldwide health problem, and according to the World Health Organisation it is the third leading cause of death worldwide. The Australian Lung Foundation states that around 1 in 7 Australians over 40 have COPD, and around half of these don’t know that they have the condition. However, if diagnosed early enough (prior to the occurrence of structural changes in the lungs), COPD is a treatable condition.

Researchers at the University of Miami have presented findings from these trials at key international conferences, noting the clinical insights delivered using 4DMedical’s game changing technology. In addition, University of Miami researchers were integrally involved in the recently completed COPD study at Johns Hopkins. This study was initially presented in May 2022 at the American Thoracic Society conference. Key findings of the published study included that:
• XV Technology® derived metrics correspond with COPD disease severity;
• Pathophysiological insights have application in both clinical and research settings; and
• XV LVAS® scans visualise and quantify regional ventilation defects, which is critical to the optimisation of treatment therapies.

So, up a good stretch today

But, since listing, disappointment or, at least, dashed hopes had been more the norm. Capital raises, dilution and all that.

(Used to hold, didn't lose too much)

 

[Gringotts Bank]

The number of times I've traded this stock and the turnover just fizzles to nothing. I don't know why the instos avoided it for so long. Even now the turnover is way below what one would expect. Very solid product and management...who knows. I've got some bad memories about my attempts to trade 4DX.

 

[frugal.rock]

Had been watching for a long time for a turnaround. Missed it.

 

[Dona Ferentes]

Had been watching for a long time for a turnaround. Missed it.

Was bitten, so stayed shy.

 

[frugal.rock]

It may appear that the market likes the quarterly out today?
Might be some legs left?

 

[Gringotts Bank]

Insider trading or Wyckoff? Maybe they are one and the same.

Massive announcement coming and they drop it below that level 2 days before on larger than average volume? I mean come on! Textbook Wyckoff.

The banks knew this was a solid company. Buy up big at the float, push it down and cover 2 days b4 the ann. Well, that's what I reckon, anyway.

 

[Dona Ferentes]

Bell Potter offering the shares at 91¢ apiece via a $10 million placement and share purchase plan to raise another $10 million.

 

[Dona Ferentes]

up 30 per cent to 60c.
.
Highlights
• U.S. Centers for Medicare & Medicaid Services (CMS) assigns US$299 as reimbursement benefit for XV LVAS®
• From 1 January 2024, XV LVAS® scans conducted in a U.S. hospital outpatient facility for Medicare patients can be billed to CMS
• XV LVAS® now has a benchmark payment level set for hospital outpatient procedures, serving as a guide for private health insurers in determining their pricing levels
• CMS reimbursement will accelerate utilisation of XV LVAS® under 4DMedical’s existing Category III CPT code, a key criterion for the AMA when considering granting a Category I CPT code

 

[Dona Ferentes]

up 30 per cent to 60c.
.
Highlights

closed at 78c, up 70 per cent