Guess which ASX biotech share just rocketed 86% on 'a major validating moment'

There's a good reason why this biotech share has almost doubled in value today.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Impedimed Limited (ASX: IPD) share price has had a sensational start to the week.

In afternoon trade, the ASX biotech share is up 86% to 11 cents.

A woman jumps for joy with a rocket drawn on the wall behind her.

Image source: Getty Images

Why is this ASX biotech share rocketing higher?

Investors have been buying this ASX biotech share after it advised that the National Comprehensive Cancer Network (NCCN) has released a new version of the NCCN Clinical Practice Guidelines in Oncology for Survivorship.

According to the release, for the first time, these guidelines include bioimpedance spectroscopy (BIS).

Key points include:

  • The NCCN Guidelines specifically name bioimpedance spectroscopy as an objective measurement tool to identify early signs of lymphoedema.
  • The NCCN Guidelines now recommend regular screening for all cancer survivors at risk of lymphoedema.
  • The recommendations made by the NCCN Survivorship Panel were Category 2A, which means that there was uniform NCCN consensus for this new recommendation.
  • The inclusion of BIS in the NCCN Guidelines will help establish BIS as standard of care and accelerate adoption by Private Payors and Providers.

The release highlights that NCCN Guidelines are the globally recognised standard for clinical direction and policy in cancer care, with the goal of improving patient care and outcomes.

Why is this good news for ImpediMed?

This is good news for ImpediMed as it has the only FDA-cleared BIS technology for the assessment of lymphoedema.

The company's SOZO Digital Health Platform is broadly accepted and recognised for effective and accurate screening of lymphoedema.

The ASX biotech share's Managing Director & CEO, Richard Valencia, commented:

The recommendation in the NCCN Guidelines for the use of bioimpedance spectroscopy technology is a major validating moment for the Company. The authors of the NCCN Guidelines are world leaders in global cancer care driven by sound clinical evidence and patients' best interests. Their recommendations are highly influential for clinicians, patients, policymakers, and insurance companies.

We will take the information in these updated NCCN Guidelines and immediately integrate it into our reimbursement strategy to expand coverage of SOZO testing for lymphoedema. Our near-term focus remains leveraging our strong clinical evidence, market position, and now these guidelines to drive growth and adoption of our solution for breast cancer-related lymphoedema. Longer-term, these guidelines also support an opportunity to expand into other cancer types, broaden our footprint in oncology, and benefit even more patients.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Healthcare Shares

Married elderly man and woman in love spending time together on bench on a phone, symbolising retirement.
Healthcare Shares

Summerset Group delivers Q2 update

Summerset Group saw first-half FY26 sales rise 17%, with resales up 26%.

Read more »

A guy shrugs his shoulders, not sure which is the right decision.
Healthcare Shares

Cochlear shares are flying. Is this just the start?

Up 32% in a month, but can the ASX healthcare stock reach $300 again?

Read more »

Three health professionals at a hospital smile for the camera.
Healthcare Shares

2 ASX 200 healthcare shares to buy after sector rebounds 23% in a month

The rapid rebound in ASX 200 healthcare shares has caught many investors by surprise.

Read more »

A medical researcher in a white coat holds laboratory equipment and smiles.
Healthcare Shares

2 ASX healthcare shares crashing, now bouncing: buy, hold or sell?

With a 13% to 34% recovery over the past month, do experts believe it's sustainable?

Read more »

Man sleeping with a sleep apnoea mask on.
Broker Notes

Down 22%! 3 reasons to buy the big dip in ResMed shares today

Two leading analysts deliver their verdicts on ResMed’s beaten-down share price.

Read more »

Portrait, confidence and team of doctors in the hospital standing after a consultation or surgery. Success, healthcare and group of professional medical workers in collaboration at a medicare clinic.
Healthcare Shares

ASX healthcare shares have jumped 21% since June. Can the recovery continue?

Can ASX healthcare shares can sustain their recovery?

Read more »

Donor donates blood in medical clinic. Beautiful European woman of 30 years sits in medical chair looking into camera and smiling.
Healthcare Shares

After losing half their value, can CSL shares reclaim $275?

A rebound is here, but can it last? Here's what the experts think.

Read more »

A man wearing a white coat holds his hands up and mouth open with joy.
ASX Share Market News

Healthcare shares lead the ASX 200 again as sector rotation gathers pace

The sector is up 20% in just a month as value investors swoop on blue-chip favourites like CSL.

Read more »