The 4DMedical Ltd (ASX: 4DX) share price is in fine form again today.
Shares in the All Ordinaries Index (ASX: XAO) respiratory imaging technology company closed yesterday trading for $1.89. In morning trade on Friday, shares are changing hands for $2.04 apiece, up 7.9%.
For some context, the ASX All Ords is up 0.7% at this same time.
If you've been following along with the top ASX stock gainers board recently, you'll be aware of the meteoric rise in the 4DMedical share price over the past month.
And using 'meteoric' here isn't hyperbole.
You see, on 9 July, just over two months ago, you could have picked up shares in the ASX All Ords stock for just 23 cents each at market close.
That puts shares are up an eye-popping 787.0%. Or enough to turn a $10,000 investment into $88,700.
In two months!
So, why are investors piling into the stock again today?
I'm glad you asked.
Image source: Getty Images
4DMedical share price lifts off as mystery company unmasked
The 4DMedical share price is lifting off again today after the company released a supplementary announcement to the one it released on Monday.
On Monday, shares in the ASX All Ords stock closed up a blistering 49.5% after 4DMedical reported that it had signed agreements with three major medical businesses to deploy its lung health analysis software.
The announcement revealed the identity of two of those businesses. Namely, Royal Melbourne Hospital and Spectrum Medical Imaging.
The third business was more vaguely identified as "a leading global pharmaceutical company".
Now, if you're like me, that may have left you curious as to which leading global pharmaceutical company they'd inked an agreement with.
All we could discern for certain is that it's based in Brazil.
As we wrote on Monday, "4DMedical reported that it has commenced the rollout of Lung Health Screening in Brazil. The initial agreement covers the analysis of up to 10,000 scans through to August 2026."
Today, our curiosity is sated, and the 4DMedical share price is surging once more, with the company reporting that the leading global pharmaceutical company it's collaborating with in Brazil is AstraZeneca.
Management also today clarified its agreement with Spectrum Medical Imaging, intended to support its Lung Health programs. The agreement was reported to commence immediately and run until 30 June 2027.
Today, management noted:
The contract with Spectrum Medical Imaging is not expected to be immediately material in terms of revenues but is important for being 4DMedical's first contract supporting Australia's National Lung Cancer Screening Program and is expected to grow significantly over time.
Although the delay in material revenue returns from the Spectrum agreement doesn't look to be holding back the 4DMedical share price from another day of outperformance.
