In afternoon trade the 3D medical imaging company's shares are up a further 26% to 48 cents.
This means the Singular Health share price is now up a massive 140% from its listing price of 20 cents.
Why is the Singular Health share price surging higher?
Investors appear to have been buying Singular Health shares due to excitement around the company's technology.
Singular Health is a technology-driven medical imaging company with the aim of developing technologies that provide patients and practitioners with access to personalised, enhanced, medical data to inform better health decisions.
Its key solution is the Volumetric Rendering Platform. This platform uses proprietary code and algorithms to accurately convert traditional 2D medical imagery into volumetric 3D models.
Once this imagery has been converted into 3D models, users are able to visualise, manipulate, modify, and review the model using a standard monitor or by utilising virtual reality.
Management notes that its platform has several distinct advantages. It expects these advantages to drive adoption in the areas of surgical planning, medical education, and patient education.
Singular Health raised $6 million from its IPO. The proceeds will be used to execute its growth strategy, fund research and development, working capital, and for the purchase of a titanium 3D printer.
In respect to its growth strategy, management appears positive on the future.
It commented: "Singular Health has already established a strategy for the vertical integration of the Company's capabilities, in collaboration with key opinion leaders and joint ventures with established businesses, to develop an end-to-end solution for the visualisation, analysis and segmentation via artificial intelligence and production of bespoke solutions through additive manufacturing."
However, it is still early days. Furthermore, a significant amount of future growth is already being priced into Singular Health's shares.
Based on the current Singular Health share price and its 102.2 million shares outstanding, the company has a market capitalisation of $49 million. This compares to financial year to date revenue of just $22,000.