The All Ordinaries Index (ASX: XAO) is up 0.3% today, with plenty of help from one rocketing ASX All Ords stock.
The fast-gaining company in question is 4DMedical Ltd (ASX: 4DX).
Shares in the respiratory imaging technology company closed yesterday trading for 25 cents. In morning trade on Tuesday, shares just leapt to 32 cents, up 28%. After some likely profit-taking, shares are swapping hands for 31 cents apiece at the time of writing, up 24%.
Here's what's grabbing investor interest today.
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ASX All Ords stock surges on contract deal
The 4DMedical share price is off to the races today after the ASX All Ords stock reported inking a commercial contract with Lake Imaging, a subsidiary of Integral Diagnostics Ltd (ASX: IDX).
Integral Diagnostics is the second-largest diagnostic imaging provider in Australia.
4DMedical said the contract comes following a successful pilot program with Lake Imaging. The pilot program was initially announced in October 2023.
The new agreement will give general practitioners, respiratory specialists, and cardiologists in Australia and New Zealand greater access to 4DMedical's technology.
The company said its lung imaging technology will now be available for routine clinical use at Lake Imaging locations. Those include Ballarat, Albury, North Melbourne, Geelong, Warrnambool, and other locations "as agreed between the parties from time to time".
The ASX All Ords stock said the increased services under the new contract will provide healthcare professionals with enhanced diagnostic capabilities for respiratory illnesses to their patients, with more timely and accurate diagnoses helping to improve patient outcomes.
Commenting on the commercial contract with Lake Imaging, 4DMedical CEO and founder Andreas Fouras said:
This contract is a direct result of the strong interest from doctors to use our products in clinical practice and continues 4DMedical's record of converting 100% of pilot programs into full commercial contracts.
This is another important step in 4DMedical's mission to revolutionise lung health and further strengthens our commercial presence in Australia.
What's been happening with 4DMedical?
4DMedical reported its half-year results (H1 FY 2025) on 28 February.
The ASX All Ords stock reported operating revenue for the six months of $3.8 million, up 265% year on year, with gross margins remaining stable at 93.5%.
In some promising growth metrics, the company reported delivering more than 8,000 scans over the half year, up 77% from the prior corresponding period. As of February, 4DMedical was operating at 301 sites, an increase of 41% year over year.
As at 31 December, 4DMedical had a net cash balance of $16 million.
