Australia-based Resonance Health (ASX: RHT) is a healthcare sector company which specialises in developing and offering non-invasive medical imaging software and analysis services to clinicians for the diagnosis and management of human diseases; and also, for clinical trials conducted by pharmaceutical and therapeutic companies.
Over the years, Resonance Health has built a strong reputation in the medical community and gained endorsements by well-known physicians globally for consistently providing industry leading quantitative measurements essential in the diagnosis and management of particular diseases.
The company’s current suite of products in the market include:
- FerriScan®- It is internationally recognised as the gold standard in liver iron concentration (LIC) measurement, based on a non-invasive, MRI-based technology and the company’s unique Quality Assured Service Delivery model.
Source: Investor Presentation
- Cardiac T2* with FerriScan®- Cardiac T2* is a tool for Iron Assessment, that is offered both separately as well as in combination with FerriScan, under a dual analysis package. The dual analysis gives a more comprehensive information about the body iron stores.
- HepaFat-Scan®- It is a clinically validated non-invasive MRI-based solution (image analysis service) that enables measurement of the volume fraction of fat in liver tissue. The analysis and reporting are completed at the Resonance Health Service Centre (ISO 13485 certified).
- Bone Marrow R2-MRI - It is also an MRI-based solution that enables the assessment of iron levels present in a bone marrow.
Source: Company’s Website
Recently, Resonance Health confirmed to the market that it had issued the 20 million fully paid ordinary shares at nil consideration (Collateral Shares) to Acuity Capital Investment Management Pty Ltd pursuant to the Controlled Placement Agreement (CPA) as announced on 30 April 2019. One of the flexible features of the Standby Financing Facility Agreement is that Resonance may raise up to $5 million over a 26-month period, free of any conditions on joint ventures, strategic partnerships, acquisitions of assets or on the timing, nature or amount of other equity or debt funding activities.
An R&D Activities Update was also released on 30 April 2019 whereby Resonance informed that its suite of ‘research-only’ tools have been expanding. The R&D work on new protocols for the measurement of brain iron has also been finalised in response to requests from clinicians and/or radiologists. The on-field use of new tools has also commenced. Spleen volume and liver volume analysis have been automated (reduced time) through the application of machine learning.
Resonance Health has recently collaborated with a large US-based hospital (existing user of FerriScan®). The collaboration would enable the Dragon 2 study protocols to be tested across multiple scanner manufacturers. This follows the successful preliminary results in the imaging component of the Dragon 2 study that was undertaken in Vietnam.
With respect to its R&D initiatives, Resonance Health has recently issued 9,000,000 Unlisted Incentive Options- 3 million immediately exercisable at $ 0.075 while the remaining by 2020 (3 million exercisable at $ 0.10) and by 2021 (3 million exercisable at $ 0.125).
There are other R&D activities going on while various machine learning tools are in different stages of development and trials, demonstrating that the company has a strong pipeline of Artificial Intelligence (AI) based offerings.
With around 402.5 million outstanding shares and a market capitalisation of AUD 50.31 million, the RHT stock is trading at AUD 0.120 (As at 1:29 PM AEST, 27 May 2019). The stock has gained immense traction lately; delivered a high YTD return of 104.92%.
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