The All Ordinaries Index (ASX: XAO) has gained 4.0% since market close on 9 July, but one ASX All Ords stock has left those gains in the dust.
The surging stock in question is respiratory imaging technology company 4DMedical Ltd (ASX: 4DX).
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ASX All Ords stock on the ten-bagger path
A ten-bagger, as you may know, is a stock that returns 10 times your original investment within a certain time frame.
While the 4DMedical share price isn't yet up 1,000% (and it might not get there), the company has made some very happy investors over the past two months.
How happy?
Well, on 9 July, you could have bought shares in the ASX All Ords stock for 23 cents apiece.
Meaning for $10,000, you could have picked up 43,478 4DMedical shares.
On Friday, those same shares closed trading for $1.76 each.
That's a gain of 665%.
And it would have turned your $10,000 investment into $76,521.
In only two months!
Here's what's been driving the company higher.
How did 4DMedical share price rocket 665% in two months?
The past two months have seen 4DMedical announce a series of successes that have clearly captured investor interest.
Sticking to the bigger ones, on 1 August, shares in the ASX All Ords stock closed up 27.1% after the company reported a $10 million investment from health imaging heavyweight Pro Medicus Ltd (ASX: PME).
Commenting on the Pro Medicus investment on the day, 4DMedical CEO Andreas Fouras said:
Pro Medicus is a global leader in healthcare, and we are thrilled to receive their support at this pivotal moment in our journey. This strategic investment places us in a very strong position to take CT:VQ to market once it is cleared by the FDA.
CT:VQ is the company's CAT scan-based ventilation-perfusion software.
Fast forward to September, and shares in the ASX All Ords stock closed up 36.0% on 1 September following news that the company had received clearance for CT:VQ from United States Food and Drug Administration (FDA).
Two days later, on 3 September, shares finished the day up another 50.0%.
That huge intraday gain came after 4DMedical reported that the US Centers for Medicare & Medicaid Services (CMS) confirmed that it would provide reimbursement for CT:VQ. CMS will pay US$650.50 per scan, effective as of early September.
And just this past Monday, 8 September, the ASX All Ords stock closed up another 49.5%.
Why?
That big surge followed an announcement that 4DMedical had signed three new agreements to deploy its lung health analysis software.
Namely, with Royal Melbourne Hospital, Spectrum Medical Imaging, and AstraZeneca.
