The Resonance Health Limited (ASX: RHT) share price has been placed in a trading halt. This comes after an announcement by the company this afternoon. Prior to the halt, the Resonance Health share price was trading narrowly higher. Rising to 19.5 cents, up by 2.63%.
The Resonance Health share price has been a poor performer so far this year, shedding 15%. Let's take a closer look at what this means for the company.
What Resonance Health does
Resonance Health is an Australian healthcare company. It is involved in the development and delivery of non-invasive medical imaging software and services. Resonance Health's products are used by clinicians in the diagnosis and management of human diseases. Its products are also used by pharmaceutical companies in their clinical trials.
The Company's flagship product is its HepaFat-AI technology. This gained FDA approval earlier this year. The FDA approval which paves the way for commercialisation of the technology sent its shares 80% higher on the day.
HepaFat-AI results can be used to monitor liver fat content in patients undergoing weight loss management. Additionally, it can aid in the assessment and screening of living donors for liver transplants.
What Happened?
This afternoon, the Resonance Health share price is at a standstill. This is due to the company announcing that it would be entering a trading halt. Shares in the company will not begin trading until February 19 or when the announcement is made. Whichever is earliest.
The small cap share requested a trading halt pending the announcement in relation to regulatory approval that affects the company's share price. With the trading halt now in effect, shareholders will be eagerly awaiting the release of any news.
About the Resonance share price
It has been a volatile 6 months for Resonance Health. Consequently, its share price has jumped between 13.5 and 32.5 cents. Nonetheless, shares in the company are currently trading at a price of 19.5 cents. This is despite having dropped lower since the start of the year.
Resonance Health currently boasts a market capitalisation of $87 million.
