The 4DMedical Ltd (ASX: 4DX) share price is in the green today. Meanwhile, the company’s boss has detailed its “rapid year of transformation”.
4DMedical’s CEO and managing director Dr Andreas Fouras looked back on what he believes was a successful financial year 2021 (FY21) before outlining what FY22 may look like for 4DMedical.
The company’s boss’ comments were included in its annual report, which was released to the market this morning.
At the time of writing, the 4DMedical share price is $1.46, 1.04% higher than it was at yesterday’s close.
Let’s take a closer look at the company’s first annual report as a listed entity.
FY22 for 4DMedical
The 4DMedical share price is performing well today amid the release of the company’s annual report.
In it, Fouras commented on the 12-months that’s been for 4DMedical, saying:
[the company’s transformed] technologically, organisationally, financially, and in terms of impact through clinical translation.
He also said the company’s ready to “disrupt the global lung diagnostics market”, following the headwinds it made with its XV Technology in FY21.
According to 4DMedical, its XV Technology can pick up early-stage lung disease that traditional CT-scans and X-rays cannot.
4DMedical recently announced the technology received praise after phase one of its pilot program. Unfortunately, the 4DMedical share price ultimately fell 4.3% on the back of the news. The company will finish XV Technology’s second phase before the end of 2021.
Additionally, Fouras noted the company expects to deliver major milestones for its VQ offering and XVD Scanner in 2022.
The company is planning to focus on securing commercial contracts with hospitals over the current financial year.
It also plans to keep working towards using its technology to improve the treatment of COVID-19. According to Fouras, the technology’s particularly suited to treating people post-COVID-19 diagnosis.
4DMedical share price snapshot
Despite the productive year, the 4DMedical share price has struggled since it listed.
Right now, it is 7% lower than it was when it debuted on the ASX in September last year. It has also fallen 39% lower than it was at the start of 2021.