Respiri Ltd (ASX: RSH) shares were on the move this morning after the company announced it will be launching its Wheezo brand in the United Kingdom. The Respiri share price opened around 3% higher following the news. However, at the time of writing, the company's shares have retreated back to 16 cents, flat for the day so far.
The software-as-a-service (Saas) company also advised today that two new executives will be joining its board as strategic advisors.
Let's look further into the company's announcements.
Wheezo UK launch
The Respiri share price was temporarily boosted today after the company stated it plans to launch Wheezo in the UK. The combination app and device product aims to help those with asthma manage the condition. The company said it is on track to launch in the UK market in late 2021.
This comes after Respiri's news on Tuesday that Wheezo has received United States Food and Drug Administration (FDA) clearance.
Respiri is in discussions with multinational pharmaceutical company Cipla and other potential partners ahead of Wheezo's UK launch.
Further, Respiri states it's in discussions with leading clinicians in the UK regarding the company's participation as a technology partner in multiple, large, asthma-related studies. These studies are expected to provide evidence for the use of asthma therapeutics and the role of digital technologies in the management of paediatric asthma.
The company says better asthma management has the potential to lead to improved outcomes and quality of life for those with the condition.
Advisor appointments to Respiri board
In further news impacting the Respiri share price this morning, the company also announced it has recently appointed two new advisors to its board.
Dr Andrew Weekes and Dr Mark Levy will aid the company in its UK launch, according to the announcement.
Dr Weekes is the country medical director for Australia of GlaxoSmithKline (NYSE: GSK). Respiri states GlaxoSmithKline is a leading global player in respiratory diseases. Dr Weekes will provide advice to Respiri's board regarding Wheezo's commercialisation, its clinical development and other subjects.
Dr Levy has been appointed as an advisor for the UK. He has been a member of the Global Initiative for Asthma executive board since 2009. Respiri CEO Marjan Mikel said Dr Levy has provided the board with advice and introductions ahead of its UK launch.
Respiri share price snapshot
The Respiri share price is having a stellar year on the ASX and is currently up by 23.08% year to date. It is also up by nearly 83% over the last 12 months.
The company has a market capitalisation of around $115 million, with approximately 722 million shares outstanding.
