Why the Rhinomed Ltd share price jumped 10%

One of the biggest movers on the local market today has been the Rhinomed Ltd (ASX: RNO) share price.

In afternoon trade the medical technology company’s shares are up 10.5% to 21 cents.

What happened?

This morning Rhinomed announced that its sleep and breathing technology Mute, has been added to the annual large set planogram produced by the Hamacher Resource Group in the United States.

The large set planogram is used by up to 10,000 American pharmacies to determine their store layout and what products appear on shelf.

According to the release, Hamacher has advised the company that two Mute SKUs will be included in the Cold and Allergy large set planogram from August.

The company’s US-based sales team will be targeting independent pharmacies and wholesalers in the Hamacher network in order to take full advantage of the new planogram.

NEW! Dividend expert names his top ASX income stock for 2017-18

You probably don't know this market leader, but it's making waves in Asia and already boasts a term-deposit-crushing dividend of almost 5%. A debt free balance sheet and dominant market position at home and abroad mean this company offers investors income and some real-deal growth potential.

Simply click here to discover the name, code and a full investment analysis in our brand-new FREE report, "The Motley Fool's Top Dividend Stock for 2017-18."

Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.