The All Ordinaries Index (ASX: XAO) is down 0.7% today, but don't blame this surging ASX All Ords share.
The rocketing stock in question is 4DMedical Ltd (ASX: 4DX).
Shares in the respiratory imaging technology company closed yesterday trading for 77.0 cents. In morning trade on Wednesday, shares are swapping hands for $1.015 apiece, up 31.8%.
This puts the 4DMedical share price up 136% since this time last year.
But investors who bought the ASX All Ords share at the recent closing lows on 31 July will have done even better.
How much better?
Well, on 31 July, shares closed at 24 cents. That works out to a 322.9% gain in just over one month. Or enough to turn an $8,000 investment into $33,833.
Boom!
Here's what's spurring renewed investor interest today.
Image source: Getty Images
ASX All Ords share surges on US news
4DMedical shares closed up 36.0% on Monday, 1 September, after the company announced that its CT-based ventilation-perfusion software, CT:VQ, had received clearance from the United States Food and Drug Administration (FDA).
Today, investors are piling into the ASX All Ords share once more after the healthcare company reported that the US Centers for Medicare & Medicaid Services (CMS) has confirmed that reimbursement for CT:VQ falls under Category III Current Procedural Terminology (CPT) codes 0721T and 0722T.
CMS will pay US$650.50 per scan, effective immediately.
4DMedical noted the reimbursement is crucial for widespread market adoption of CT:VQ. The ASX All Ords share said that US hospitals and imaging centres can now integrate its technology, knowing they'll receive reliable payment through established systems.
The advantage for patients, 4DMedical said, is that CT:VQ provides comprehensive lung function assessment without radioactive exposure or contrast agents, using standard CT scans they may already be receiving.
What did management say?
Commenting on the CMS reimbursement clearance that's sending the ASX All Ords share soaring today, 4DMedical CEO and founder Andreas Fouras said, "CMS's confirmation that CT:VQ qualifies for reimbursement of US$650.50, on top of existing chest CT payments, is a game changer."
Fouras added:
Certainty around reimbursement, on the heels of our FDA 510(k) clearance, means CT:VQ is ready for immediate and broad commercial integration. We've cleared regulatory and reimbursement hurdles in quick succession, removing the biggest barriers to adoption and bringing us closer to redefining functional lung imaging at scale.
Looking to what's next for the ASX All Ords share, Fouras said, "With both FDA approval and Medicare reimbursement confirmed, and with our cash position now secure, 4DMedical is perfectly positioned to launch CT:VQ commercially across the United States."
He concluded:
The company will accelerate engagements with leading hospital groups, imaging networks, and academic institutions, providing them with access to this revolutionary software that transforms a routine non-contrast CT into a powerful functional assessment.
