ASX:EIQ
EchoIQ Ltd
Investment Summary
The fund managers believe that EchoIQ Ltd is poised for significant growth due to its innovative technology in heart failure detection. In their opinion, the recent clinical studies demonstrating an 86% detection rate without human review and 97% with human review significantly outperform the current 46% detection rate in standard practices. The company's FDA approval for its technology not only validates its effectiveness but also facilitates market entry into the USA. Additionally, the equity raise participation by fund managers, along with the company’s share price increase of 45% in September and further growth in October, reflects strong market confidence. The recent partnership with Beth Israel Deaconess Medical Centre to integrate its technology into clinical systems for echocardiograms, which number around 30,000 annually, is expected to enhance credibility and adoption, further solidifying the company's position in the market.
Commentary From The Managers
Cadence Capital
30 Nov 2024
$0.26
- Cadence Capital updates its investment thesis on EchoIQ Ltd.
- EchoIQ is a medical technology company utilizing artificial intelligence to identify heart failure.
- Recent positive results from clinical studies reinforce confidence in their technology.
- In November, EchoIQ signed an agreement with Beth Israel Deaconess Medical Centre (BIDMC) in Boston.
- The partnership aims to integrate EchoIQ’s technology for patient identification with aortic stenosis.
- BIDMC conducts about 30,000 echocardiograms annually, providing valuable data on the efficacy of EchoIQ's solutions.
- Cadence Capital continues to hold EchoIQ as it believes in the growth potential stemming from these developments.
Cadence Capital
30 Sept 2024
$0.23
- Cadence Capital continues to monitor EchoIQ Ltd, a medical technology firm utilizing artificial intelligence for heart failure detection.
- Recent results from two clinical studies revealed an 86% detection rate of heart failure cases without human review.
- With human review, the detection rate improved to 97%, significantly higher than the current 46% rate in standard practices.
- EchoIQ completed an equity raise to support its commercialization efforts, in which Cadence Capital participated.
- The company’s share price saw a 45% increase in September and has continued to perform well into October.
- Recently, EchoIQ’s technology received FDA approval for marketing and use in the USA by healthcare professionals.
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.