Australian Healthcare Company, Respiri Limited (ASX: RSH) made an announcement on 9 January 2019 stating that its exhibit for its Product Wheezo ™ has opened at the Consumer Electronics Show, CES 2019, as part of the digital health showcase in Las Vegas, USA. Following this news, the share price of the company increased by 4.651 percent as on 9 January 2019.
More than 4500 companies have participated in the CES conference, and RSH is one of the company. The conference is being attended by 180k attendees from 150 countries and 6,500 media. The company has attended this conference to understand the competitive landscape and the company’s positioning in the marketplace. Further, the company also want to create brand awareness of Wheezo ™ ahead of its launch in 2019. Wheezo ™ is a wireless wheeze and cough detector for nocturnal asthma assessment which will evaluate the degree of asthma control in patients.
The company is expecting to launch Wheezo ™ in the US in 12 - 18 months, once US Food and Drug Administration (FDA) clearance received. At the event, RSH’s CEO Mr. Mario Gattino told that no other health company is even close to providing a solution for asthma management like Respiri. He further told that the people’s reaction to the Wheezo ™’s breath sensor and app demo is incredibly positive, and it is universally agreed that Wheezo ™ is a game changer. The CES conference will be concluded on Friday, 11 January 2019.
On 7 January 2019, the company announced that it is undertaking a Share Purchase Plan (SPP) to provide existing shareholders with the opportunity to subscribe for shares at an issue price of $0.080, representing a discount of 19.2% to the closing share price of $0.099 on 4 January 2019. The proceeds from the SPP will be used to strengthen the company’s balance sheet and provide the financial capacity to progress the production and launch of Wheezo ™ in 2019.
In December 2018, the company successfully conducted a $3.2 million capital raising through a private placement, and as per Mr. Mario Gattino, the completion of this placement is a testament to how exciting and strong the underlying fundamentals for Respiri are.
Respiri is also planning to develop an industrial workplace asthma solution that will accelerate the process of developing the company’s stand-alone wheeze monitor and customized enterprise platform. Further, the development of an industrial workplace asthma solution will expand the company’s product portfolio, and it will allow the company to capitalize on a major market opportunity. The company is also negotiating with a major China-based pharmaceutical group to optimize the planning and market entry of Respiri into the Chinese market.
Meanwhile, in the last six months, the share price of Respiri decreased by 14.0 percent as on 8 January 2019. RSH’s shares traded at $0.090 with a market capitalization of circa $44.1 million as on 9 January 2019.
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