Shares in the ASX healthcare company are up 0.98%, trading at 21 cents at the time of writing after shareholders yesterday approved the scheme of arrangement for Pfizer to acquire 100% of ResApp's shares.

ResMed advised the next step of the takeover process would involve a second court hearing at the Supreme Court of New South Wales to be held on Tuesday next week.

For the bid to be accepted, the Supreme Court must first approve it on the condition that it's in the best interest of ResApp shareholders. Also, any remaining conditions must be either satisfied or waived before the hearing.

If these conditions are met, the deal is expected to complete on 23 September. The last date that ResApp shares will trade on the ASX will be Wednesday, 14 September.

Pfizer upgraded its bid to 20.8 cents per share on Saturday last week, up from 14.6 cents per share.

That puts ResApp's valuation in the $198.8 million ballpark at the time of writing.

ResApp share price snapshot

The ResApp share price is up a stunning 195.7% year to date. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is down 10.77% over the same period.

The company's market capitalisation is $178.3 million at the time of writing.

The post Why is the ResApp share price lifting today? appeared first on The Motley Fool Australia.

The biopharmaceutical giant has agreed to acquire the Brisbane-based health technology company for 20.8 cents per share. That's up from its previous bid of 14.6 cents.

The ResApp share price is trading at 18 cents right now, 50% higher than its previous close.

However, that's lower than its intraday high – and new 52-week high – of 19 cents.

Let's take a closer look at the latest news from the takeover target.

ResApp share price takes off on upped takeover offer

The ResApp share price is soaring 50% on Wednesday after the company announced Pfizer has upped its takeover bid to 20.8 cents per share.

That sits within its assessed value range of 14.6 cents to 27.9 cents per ResApp share, as determined by an independent expert. It also values the company at around $179 million.

The pair have entered an amended scheme of arrangement agreement entailing the increased bid.

ResApp recommends shareholders vote in favour of the proposition in the absence of a superior proposal and subject to the independent expert continuing to conclude that the scheme is in investors' best interests.

How did we get here?

ResApp is the developer of a smartphone app designed to detect COVID-19 using cough sounds.

The tech was recently dealt a blow when a data confirmation study returned significantly worse results than a previous pilot study.

Pfizer first put a takeover proposal to ResApp in April. Then, it offered just 11.5 cents per share.

That bid was upped to either 20.7 cents or 14.6 cents in June. Though, the higher of the bids was dependent on positive findings from the data confirmation study, which hadn't been completed at the time.

Perhaps unsurprisingly, the ResApp share price plummeted 28.6% when the study's disappointing results were released.

The post ResApp share price explodes 50% on new Pfizer deal appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market's lead are listed below. Here's why they are tumbling lower:

Bowen Coking Coal Ltd (ASX: BCB)

The Bowen Coking Coal share price is down 17% to 28.5 cents. This morning this this coal miner revealed that it has executed a series of funding arrangements totalling approximately $190 million. These funds will be used to support the company's development of its portfolio of development-ready coking coal assets.

Lake Resources N.L. (ASX: LKE)

The Lake Resources share price has crashed 17% to $1.12. This lithium developer's shares have fallen heavily this week following the announcement of the shock exit of its managing director, Steve Promnitz. In addition, there are concerns about rising short interest.

Premier Investments Limited (ASX: PMV)

The Premier Investments share price is down almost 2.5% to $19.67. This decline has been driven by the retail conglomerate's shares trading ex-dividend this morning. Eligible shareholders can now look forward to receiving the Smiggle owner's 46 cents per share fully franked dividend on 27 July.

ResApp Health Ltd (ASX: RAP)

The ResApp share price has crashed 31% to 12 cents. This morning the digital health company revealed disappointing study results for its COVID-19 smartphone algorithm. This means that the takeover proposal from Pfizer Australia will be 14.6 cents per share instead of 20.7 cents per share. That's if the healthcare giant still goes ahead with the takeover following the poor results.

The post Why Bowen Coking Coal, Lake Resources, Premier, and ResApp shares are tumbling lower appeared first on The Motley Fool Australia.

In morning trade, the digital health company's shares are down 29% to 12.5 cents.

Why is the ResApp share price crashing?

Last week, as we reported here, ResApp received an improved takeover offer from pharmaceutical giant Pfizer Australia.

Originally, Pfizer Australia was offering to acquire the company for 11.5 cents per share in cash. However, this fell short of the independent expert's valuation of 14.6 cents to 27.7 cents, with a preferred value of 20.7 cents per share.

In response to this, Pfizer agreed to increase its offer to either 14.6 cents or 20.7 cents per share.

The ultimate price would depend on the results of a clinical validation study of ResApp's COVID-19 algorithm. If the study was close to matching the results of its previous study, Pfizer would pay 20.7 cents per share. If the results fell short of the previous study, Pfizer would pay 14.6 cents per share.

What's the latest?

As you might have guessed from the ResApp share price performance today, the clinical validation study wasn't overly successful.

According to the release, the data confirmation study showed that ResApp's COVID-19 algorithm achieved a sensitivity of 84% and a specificity of 58%. This is significantly lower than the results of ResApp's pilot study and falls short of the minimum sensitivity of 86% and a minimum specificity of 71%.

These results were both calculated by ResApp and independently analysed and verified by a highly qualified and respected independent third-party statistician.

ResApp's CEO and Managing Director, Tony Keating, appeared disappointed with the study but remains positive on the future. He said:

While we remain confident that our algorithms can detect COVID-19 using cough sounds, they will require further refinement, testing and validation to ensure that they perform to the level needed. This work will continue with the benefit of now having over 1,300 additional cough sound recordings with gold standard PCR test results to use to train and improve the algorithms. Notwithstanding, the results underscore the considerable work, challenge and cost of bringing our technology to market.

What now?

As the confirmatory data readout condition under the revised scheme was not satisfied, the scheme consideration will be 14.6 cents per share in cash. This represents an equity value of $127 million.

The ResApp board continues to recommend that shareholders vote in favour of the offer. That's if the deal still goes ahead. They will no doubt be hoping Pfizer doesn't pull the plug on the deal following this disappointing study.

The post Why is the ResApp share price crashing 29% today? appeared first on The Motley Fool Australia.

The healthcare technology company is currently the subject of a $180 million takeover proposed by Pfizer Inc (NYSE: PFE)'s Australian arm.

However, if its COVID-19 data confirmation study's results are deemed unsatisfactory, Pfizer's bid will drop to $127 million.

Right now, ResApp shares are halted at their previous closing price of 17.5 cents each.

Let's take a closer look at what's going on with ResApp on Monday.

The ResApp share price is in the freezer on Monday

The ResApp share price has been halted on Monday as the market awaits results from a clinical validation study.

The study will determine if the company's technology can detect COVID-19 by analysing audio of a patient's cough as accurately as previous studies have found.

A previous pilot study found the technology – dubbed COVID Algorithm – performs with 92% sensitivity and 80% specificity.

Pfizer will offer ResApp shareholders 20.7 cents for each share they hold if the soon-to-drop results find the COVID Algorithm performs with a sensitivity of at least 86% and specificity of at least 71%.

Pfizer has also ordered the results be confirmed by an independent statistician.

If the study fails to meet the above criteria, Pfizer will offer shareholders just 14.6 cents per share.

The 20.7 cent per share bid represents a 130% premium on ResApp's close as of 8 April. The 14.6 cent per share bid represents a premium of 62.2% on the same close.

The ResApp share price is expected to remain frozen until the results' release or Wednesday's open, whichever comes first.

The company noted it's expecting to return to trade on the announcement of the results.

The ResApp share price has gained 169% over 2022 so far. It's also 280% higher than it was this time last year.

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The ResApp Health Ltd (ASX: RAP) share price is currently at 17 cents, a 3.03% gain. It comes despite the ASX 200 healthcare index being down 2.11% so far today.

ResApp's share price is trading at its highest level since 26 June 2020.

Let's take a look at why ReApp Health is having such a good day.

Why is this ASX share rising?

ResApp shares are climbing a further 3% today after rocketing a massive 50% yesterday.

ResApp is a digital health company that works on smart phone apps to diagnose and manage respiratory disease.

Investors appear to be continuing to snap up Resapp shares today after pharmaceutical giant Pfizer improved its takeover offer for the company.

ResApp had entered a trading halt on 31 May pending the announcement and emerged from the freeze yesterday.

Pfizer has agreed to boost its offer from 11.5 cents per share to 14.6 cents per share or 20.7 cents per share.

ResApp originally announced it had entered an agreement with Pfizer in April. The two companies also entered a research and development licence agreement to work together on COVID-19 products.

ResApp's CEO and managing director Tony Keating said the revised offer provides an "attractive premium" to the ResApp share price. He added:

We believe that it represents significant value for all shareholders and the ResApp Board strongly recommends shareholders vote in favour of the transaction in the absence of a superior proposal.

The final offer will depend on the results of a clinical validation study on Resapp's COVID-19 cough detection tool.

The results of this study are expected to be announced on or near 20 June.

Share price snapshot

The ResApp shares price has soared by nearly 55% in the past 12 months while it is up 162% year to date.

In contrast, the S&P/ASX 200 Health Care Index has slipped nearly 15% in the past year and also year to date.

ResApp has a market capitalisation of around $146 million.

The post This ASX share is defying the odds to crack new 52-week highs appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are pushing higher:

Computershare Limited (ASX: CPU)

The Computershare share price is up 3% to $24.27. This appears to have been driven by a broker note out of Ord Minnett. Its analysts have upgraded the administration services company's shares to an accumulate rating with a $26.00 price target. The broker believes that rising interest rates will be a positive for Computershare.

Lithium Plus Minerals Ltd (ASX: LPM)

The Lithium Plus share price is up 36% to 40 cents. This morning the lithium explorer advised that its mining management plan for the flagship Bynoe Lithium Project has been approved. As a result, the company has appointed Darwin-based drilling contractor, GeoDrilling, to undertake an initial program of approximately 10,000 metres of Reverse Circulation drilling.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price is up 4.5% to $8.91. The catalyst for this appears to have been a broker note out of Macquarie. This morning it reiterated its outperform rating and $12.80 price target on this rare earths producer's shares. This was in response to the company's update on Tuesday, which revealed that it has been awarded a US$120 million contract by the US government to build a heavy rare earths facility.

ResApp Health Ltd (ASX: RAP)

The ResApp share price is up a further 6% to 17.5 cents. This digital health company's shares have been racing higher this week after pharmaceutical giant Pfizer improved its takeover offer. Pfizer agreed to increase its offer from 11.5 cents per share in cash to either 14.6 cents or 20.7 cents per share. The ultimate price will depend on the results of a clinical validation study, which investors appear to believe will be successful.

The post Why Computershare, Lithium Plus, Lynas, and ResApp shares are pushing higher appeared first on The Motley Fool Australia.

This comes as the company provided an update on its proposed acquisition by Pfizer Inc (NYSE: PFE), with trading resuming immediately after the announcement.

The global biopharmaceutical giant is proposing a takeover of ResApp via its wholly-owned subsidiary Pfizer Australia Holdings Pty Limited.

At the time of writing, the digital health company's shares are up 50% to a new 52-week high of 17 cents.

In contrast, the All Ordinaries Index (ASX: XAO) is heavily down by 4.2% to 6,842 points.

What's driving ResApp shares to a 52-week high?

ResApp's voluntary suspension in trading was lifted immediately following the company's latest release.

In its statement to the ASX, ResApp advised that Pfizer Australia has agreed to increase the scheme consideration.

Originally, Pfizer Australia offered to acquire 100% of ResApp's issued capital for 11.5 cents per share in cash.

However, in a draft report provided to the ResApp board in late May, BDO Corporate Finance said the shares were worth between 14.6 cents and 27.7 cents, with a preferred value of 20.7 cents per share.

Given the initial proposal was substantially lower than the expert's advice, Pfizer Australia revised its offer after negotiations with ResApp.

As such, Pfizer Australia matched the preferred value of 20.7 cents per ResApp share, totalling $180 million. This represents a 130% premium on the last closing ResApp share price of 9 cents on 8 April.

For the deal to proceed at the proposed offer, ResApp's COVID-19 algorithm study must satisfy certain readout results. Currently, the COVID-19 cough-based detection tool is being trialled across United States study recruitment sites.

Should ResApp fail to meet the data confirmatory study results, Pfizer Australia's scheme will be offered at 14.6 cents apiece.

Nonetheless, the ResApp board unanimously recommended that ResApp shareholders vote in favour of the revised scheme at the scheme meeting. This is expected to be held in early to mid-August.

The results of the ResApp confirmatory study and independent statistician review are due on or around 20 June.

Management commentary

ResApp CEO and managing director, Tony Keating said:

The ResApp Board is pleased to announce the renegotiated agreement with Pfizer which represents a material increase in the consideration to be received.

The Board believes this offer provides an attractive premium to the undisturbed ResApp share price, reduces the risk for shareholders by providing certainty through an all-cash offer, while also valuing the upside potential of these COVID-19 results.

ResApp share price snapshot

ResApp shares have surged by more than 240% over the past 12 months.

Year to date, the company's shares are up by almost 160%.

ResApp presides a market capitalisation of roughly $94.51 million. It has approximately 859.2 million shares outstanding.

The post Here's why the ResApp share price is rocketing 50% today appeared first on The Motley Fool Australia.

Four ASX shares that have defied the odds and pushed higher are listed below. Here's why they are rising:

Australian Clinical Labs Ltd (ASX: ACL)

The Australian Clinical Labs share price is up 1% to $4.62. Last week Goldman Sachs reiterated its buy rating and $6.50 price target on this pathology services company's shares. Its analysts believe that the company's longer term earnings power is still underappreciated by the market.

Lake Resources N.L. (ASX: LKE)

The Lake Resources share price is up 5% to $1.47. This is despite there being no news out of the lithium developer. However, it is worth noting that Lake Resources is being added to the ASX 200 index at the next rebalance later this month.

PolyNovo Ltd (ASX: PNV)

The PolyNovo share price is up 2% to $1.18. While there's been no news out of the medical device company, its chairman has been buying shares ferociously in recent weeks. It's possible that he has been in the market again, taking advantage of recent weakness. Mr Williams' last purchase was on 7 June, with the acquisition of 21,456 shares.

ResApp Health Ltd (ASX: RAP)

The ResApp share price is rocketing 55% higher to 17 cents. This follows news that the terms of its potential acquisition by Pfizer have been improved. The pharmaceutical giant has agreed to increase its offer from 11.5 cents per share in cash to either 14.6 cents or 20.7 cents per share. The ultimate price will depend on the success of a clinical validation study. It is being undertaken to confirm that ResApp's COVID-19 cough-based detection tool performs at or around the sensitivity and specificity reported in its pilot study.

The post Why Australian Clinical Labs, Lake Resources, PolyNovo, and ResApp are rising appeared first on The Motley Fool Australia.

This comes as the company requested its shares be placed in a trading halt.

At the time of writing, shares in the digital health company are frozen at 11 cents apiece.

Details of the ResApp share price halt

Prior to the market opening, the company requested trading in its shares be halted while it prepares an announcement.

According to the company's release, ResApp is planning to provide an update regarding a proposed acquisition by Pfizer Australia.

The global biopharmaceutical giant offered to purchase ResApp for 11.5 cents per share in cash. In total, this represents an equity value of around $100 million.

Following the proposal, ResApp's directors unanimously recommended its shareholders vote in favour of the scheme of arrangement.

However, for the deal to go ahead, certain regulatory approvals need to be met. This includes being given the nod from the Australian Competition and Consumer Commission (ACCC).

ResApp has requested the trading halt remains in place until Thursday 2 June or when the announcement is made, whichever comes first.

Quick take on ResApp

ResApp is a digital health company that specialises in developing smartphone apps for the diagnostics and management of respiratory diseases.

Machine learning algorithms use sound to detect and measure a variety of breathing conditions, such as restricted breathing, snoring, and coughing.

Its regulatory-approved products include ResAppDx and SleepCheck, which are both approved for sale and marketing in Australia and Europe.

ResApp share price snapshot

Since this time last year, ResApp shares have more than doubled in value to register a gain of around 110%.

In 2022, the company's shares are 70% higher on the back of the Pfizer takeover offer.

Based on valuation grounds, ResApp presides a market capitalisation of roughly $94.5 million.

The post ResApp share price halted ahead of Pfizer takeover update appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back today are listed below. Here's why they are charging higher:

IGO Ltd (ASX: IGO)

The IGO share price is up over 3% to $14.12. This follows news that the battery materials miner has increased its takeover offer for nickel producer Western Areas Ltd (ASX: WSA). IGO has agreed to increase its offer to $3.87 cash per share, which is 15.2% higher than its previous proposal of $3.36 per share. This offer has been unanimously recommended by the Western Areas board, subject to a number of customary conditions.

Lake Resources N.L. (ASX: LKE)

The Lake share price has jumped 12% to $2.08. Investors have been buying this lithium developer's shares after it announced a non-binding lithium offtake agreement with auto giant Ford. This is the second agreement Lake has signed in as many weeks, both for 25,000 tonnes per annum of lithium carbonate from the Kachi operation in Argentina.

Regis Resources Limited (ASX: RRL)

The Regis Resources share price is up 4% to $2.12. As well as getting a boost from a rise in the gold price, this morning this gold miner was the subject of a bullish broker note out of Credit Suisse. According to the note, the broker has retained its outperform rating and lifted its price target on the company's shares to $2.60.

ResApp Health Ltd (ASX: RAP)

The ResApp share price has surged 22% higher to 11 cents. The catalyst for this was news that healthcare giant Pfizer has tabled a takeover offer. Pfizer has offered 11.5 cents cash per share, which values the digital health company at $100 million. ResApp recently announced positive results for a new novel smartphone-based COVID-19 screening test.

The post Why IGO, Lake Resources, Regis Resources, and ResApp shares are charging higher appeared first on The Motley Fool Australia.

At the time of writing, the digital health company's shares are up a whopping 28% to 11.5 cents.

Why is the ResApp share price rocketing higher?

The ResApp share price is rocketing higher this morning after the company revealed that it has received a takeover offer from healthcare giant Pfizer.

According to the release, ResApp has entered into a binding scheme implementation deed with Pfizer, under which it will be acquired by way of a scheme of arrangement for 11.5 cents per share in cash. This represents a total equity value of approximately $100 million.

Subject to the independent expert determining that the scheme is in the best interests of ResApp shareholders, and in the absence of a superior proposal, the company's directors unanimously recommend that ResApp shareholders vote in favour of the scheme. They intend to vote shares under their control in favour of the proposed scheme.

This takeover approach comes less than three weeks after ResApp announced positive results for a new novel smartphone-based COVID-19 screening test. These results appear to have caught the eye of Pfizer, which has moved quickly to acquire the company.

ResApp's CEO and Managing Director, Tony Keating, commented: "We are excited by the prospect of this acquisition by Pfizer, a leading biopharmaceutical company that shares our vision and belief that technology can help transform healthcare and improve patients' lives."

"The proposed acquisition recognises the years of dedicated work by the ResApp team to build ResApp into a leader in audio-based analysis of respiratory health. We believe that the material premium and certainty of an all-cash consideration is an attractive outcome for our shareholders," Keating added.

ResApp has advised that shareholders needn't take any action at the present time. A scheme meeting is expected in mid June.

Today's gain means the ResApp share price is now up over 80% since this time last month.

The post ResApp share price rockets 28% on Pfizer takeover news appeared first on The Motley Fool Australia.

Four ASX shares that are climbing more than most today are listed below. Here's why they are charging higher:

Beach Energy Ltd (ASX: BPT)

The Beach share price is up 3.5% to $1.63. Investors have been buying this energy producer's shares following a strong rise in oil prices. Concerns that the EU may ban Russian oil led to oil prices jumping 7% overnight. The good news for Beach and other energy shares is that prices have continued to climb during Asian trade.

BHP Group Ltd (ASX: BHP)

The BHP share price is up 4.5% to $48.62. Investors have been buying the Big Australian's shares following a solid night of trade for a number of commodities. It isn't just BHP that is climbing today. The S&P/ASX 200 Resources index is up a solid 3.4% at the time of writing.

New Hope Corporation Limited (ASX: NHC)

The New Hope share price has stormed 6% higher to $3.11. The catalyst for this was the release of the coal miner's half year results this morning. Thanks largely to sky high coal prices, New Hope delivered a 153% increase in revenue to $1,025 million and a 582% jump in underlying EBITDA to $554.4 million. This allowed the New Hope board to increase its fully franked interim dividend by 325% to 17 cents per share and declare a fully franked 13 cents per share special dividend.

ResApp Health Ltd (ASX: RAP)

The ResApp share price has rocketed 43% to 8.9 cents. This follows the release of positive results from its cough audio-based COVID-19 screening test. The digital health company advised that its test, which operates through a regular smartphone, correctly detected the virus in 92% of infected participants.

The post Why Beach, BHP, New Hope, and ResApp shares are charging higher appeared first on The Motley Fool Australia.

ResApp shares closed yesterday at 6.2 cents and are currently trading for 9.9 cents. That's a whopping 59.7% gain for the ResApp share price in early morning trade.

The ASX healthcare share is focused on developing smartphone applications to diagnose and manage respiratory diseases.

Shares went into a trading halt on Thursday and emerged from that pause today after the release of results from its smartphone-based COVID-19 screening test.

What COVID-19 screening results were announced?

Investors are bidding up the ResApp share price after the company reported positive results from its cough audio-based COVID-19 screening test.

The test uses only a regular smartphone and makes use of machine learning to analyse the sound of a patient's cough.

ResApp said the clinical trial – which recruited 741 patients of who 446 were COVID-19 positive – correctly detected the virus in 92% of infected participants. That success rate, according to the release, exceeds the real-world measured sensitivity of rapid antigen tests.

The company said it sees the best early market opportunities in settings where frequent testing is required. In these settings its smartphone test could cut back on the number of RAT or PCR tests being administered, which would reduce costs and offer a more readily available test.

The ResApp share price could be getting an additional lift today from management's plans to now seek approvals from regulators and accelerate commercialisation of the smartphone test by partnering with a global health or technology company.

Commenting on the positive results, ResApp CEO, Tony Keating said:

The WHO have recently warned that the pandemic is not over, that health systems globally continue to strain under the current caseload and that we should be prepared for the potential of more dangerous variants to emerge.

We intend to accelerate commercialisation by immediately engaging with regulators globally and we have already commenced discussions with global health and technology companies with the goal of rapidly bringing this product to market.

Catherine Bennett, chair of epidemiology at Deakin University added, "The simplicity, ease of use and unlimited scalability of ResApp's test will be welcomed by public health officials around the world."

ResApp share price snapshot

With today's momentous intraday charge higher factored in, the ResApp share price is up 38.5% in 2022.

That compares to a year-to-date loss of 3.6% posted by the All Ordinaries Index (ASX: XAO).

The post Here's why the ResApp (ASX:RAP) share price is skyrocketing 60% today appeared first on The Motley Fool Australia.

• Investors are responding positively to an update from Resapp today
• The company was awarded a patent in China
• UBS says the Chinese telehealth market is expected to reach US$54 billion by 2025
• In the last year, the Resapp share price has climbed 20% into the green

Shares in digital health company Resapp Health Ltd (ASX: RAP) are walking higher today following a company announcement.

At the time of writing the Resapp share price has spiked 5% from the open and is now fetching 7.9 cents apiece after rallying as high as 13% in early trading.

Investors are responding positively to an update regarding a cough analysis patent that was awarded in China, piling into the company on a volume of 193% of its 4-week average volume.

Resapp has cough analysis patent granted in China

Resapp touts itself as a "leading digital health company developing smartphone applications for the diagnosis and management of respiratory disease".

The company integrates machine learning algorithms that use sound to diagnose and measure the severity of respiratory conditions.

It has two flagship products in the field, called ResAppDx – a smartphone app for respiratory diagnostics and telehealth; and SleepCheck, another app that assesses sleep apnoea.

As such, the company had applied for a patent in China under the title "A method and apparatus for processing patient sounds", according to the release.

Today the company advised that the China National Intellectual Property Administration has accepted for grant the company's patent application.

The patent covers the use of a "cough sound-based audio processing pipeline for diagnosing respiratory disease", Resapp says, and is owned by The University of Queensland. It will be licensed exclusively to ResApp for the lifetime of the patent.

Resapp says this "pivotal patent family" has also been granted in Australia, Japan, Korea and the US, and is currently pending approval in Europe.

Management commentary

Speaking on the announcement, Resapp CEO and Managing Director, Dr Tony Keating said:

Receiving this patent grant for our core technology is a key step in our market entry plans for China. China presents multiple large market opportunities for ResApp's products. According to UBS, the Chinese telehealth market is expected to reach US$54B by 2025, and there is a critical need for triage tools in China's overburdened hospitals. China also has over 45 million people with asthma and 100 million people with COPD, which brings large opportunities in chronic disease management. Our team has discussions underway regarding pathways to enter the Chinese market and realise the value of these opportunities.

Resapp share price snapshot

The chart below shows Resapp's underperformance relative to the S&P/ASX 200 Index (ASX: XJO) and the S&P/ASX Small Ordinaries Index (ASX: XSO) over the last 12 months.

Note the wide-reaching volatility Resapp shareholders have had to endure in this time, meaning that the stock's risk-adjusted performance might be called into question.

Even still, with a breakout of 21% since January 1, shares are now back in line with the broad market once more. In the last year, the Resapp share price has climbed 20% into the green.

The post Resapp share (ASX:RAP) price climbs 5% on Chinese patent news appeared first on The Motley Fool Australia.

At the closing bell, ResApp shares ended the day 5.36% higher to 5.9 cents apiece.

ResApp receives TGA clearance for cough counter smartphone application

Investors appeared to be excited by the company's latest news, sending the ResApp share price into positive territory.

In the release, ResApp advised that its cough counter smartphone application has been approved by the Australian Therapeutics Good Administration (TGA). In addition, the medical software has also achieved a CE Mark certification.

The significant milestone enables ResApp to sell its cough counter smartphone application in Europe as a class 1 medical device. The software is also listed on the Australian Register of Therapeutic Goods (ARTG).

Notably, ResApp now holds the title of being the world's first regulatory-approved standalone cough counter smartphone application.

Developed over the last 12 months, the cough counting application is designed to identify coughs and background noises in everyday settings. The software records the number of coughs from the user and uploads the data in a form of time and date stamps. This is then accessible to medical and healthcare professionals to monitor in real-time.

The company noted that cough frequency is a key factor in respiratory disease progression and management. Traditional methods such as self-reporting or listening to audio recordings are said to be costly that are inaccurate and labour-intensive.

The software is already being used by AstraZeneca in a clinical study to monitor patients who suffer from lung cancer. The program is set to run for a period of two years.

Management commentary

ResApp CEO and managing director, Dr Tony Keating said:

We are pleased to have secured regulatory clearance in Australia and Europe for our cough counting technology. The ability to measure cough frequency using only a smartphone is a highly scalable solution that has a number of broad clinical applications. After our success in partnering with AstraZeneca, we are particularly excited about the opportunity in supporting clinical trials, where cough can provide important insight into the progression of disease and efficacy of treatment.

ResApp share price summary

In July, ResApp shares were trading at multi-year lows before shooting up in the following months. While the company's shares are down 30% year to date, the past week alone has netted a gain of almost 10%.

ResApp commands a market capitalisation of about $50.69 million and has 859.2 million shares on its books.

The post ResApp (ASX:RAP) share price jumps 5% on regulatory approval appeared first on The Motley Fool Australia.

At the time of writing, ResApp shares are up 11.32% to 5.9 cents a pop, having earlier jumped to 6.5 cents.

ResApp licenses ResAppDx technology

Investors are driving up the ResApp share price following the company's latest update.

According to its release, ResApp has secured a three-year, non-exclusive licensing agreement with Janssen Pharmaceutica NV. The latter is one of the Janssen pharmaceutical companies of Johnson & Johnson.

The deal will see ResApp provide its ResAppDx technology to Janssen in a respiratory syncytial virus (RSV) clinical trial.

ResAppDx is a smartphone-based acute respiratory diagnostic test that has been developed to diagnose a range of health issues. 

The technology will be used to assess respiratory symptoms of a group of patients with a range of respiratory diseases.

Typically mild and similar to the common cold, RSV symptoms in severe cases can spread to the lower respiratory tract. This causes pneumonia or acute exacerbations of chronic obstructive pulmonary disease (COPD) or asthma.

The trial will run across a number of continents including the United States, Europe, South America, and Asia-Pacific.

Janssen will pay for the development and maintenance costs as well as a fee for each ResAppDx test. The clinical trial is expected to commence later this calendar year.

Commenting on the announcement driving the ResApp share price, CEO and managing director Dr Tony Keating said:

Almost 160,000 people die each year worldwide as a consequence of RSV. ResApp Health is proud to be supporting Janssen in further understanding the impact of this disease on individual patients, which may help to inform prevention and treatment strategies.

With this agreement, we are demonstrating that leading global pharmaceutical companies see the value of ResAppDx in a clinical trial setting. While not expected to have a material impact on our operating results at this stage, this contract represents the beginning of our commercial relationship with Janssen and will further build the body of high quality, clinical evidence regarding the use of ResAppDx.

ResApp share price snapshot

Despite today's positive announcement, ResApp shares have failed to take off in 2021, down around 30%. When looking over the past 12 months, the company's shares have fallen more than 34%.

ResApp presides a market capitalisation of roughly $45.5 million.

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At the time of writing, ResApp shares are fetching for 9.3 cents apiece, up 4.49%. It's worth noting that during early morning trade, its shares reached an intraday high of 10.2 cents.

ResApp secures rebate on COVID-19 study

Investors are pushing ResApp shares higher after the company secured a cashback for its COVID-19 research program.

According to the release, ResApp advised it has received approval from AusIndustry for its application for an Advanced and Overseas Finding. In particular, this is in relation to the expenditure associated with its COVID-19 clinical studies.

The finding covers the financial years between 2021 to 2023, meaning that ResApp will be eligible for a cash rebate. This refers to the company's COVID-19 overseas research and development expenditure, thus receiving a 43.5% cashback from the Australian government.

As such, ResApp estimates that it will collect a rebate of around $820,000 for the financial year that ended 30 June 2021.

In the United States, the company is currently recruiting participants for its upcoming pilot study. The aim is to collect data to train an algorithm in identifying COVID-19 through cough sounds recorded on a smartphone.

The same participants will also be used in a second study to collect further cough sounds and data on disease progression. ResApp hopes to develop algorithms to remotely monitor patients with COVID-19.

ResApp CEO and managing director, Dr Tony Keating commented:

Our COVID-19 research program is looking at developing algorithms for screening for COVID-19 as well as helping healthcare systems better manage patients with COVID-19, including those with long COVID. This finding, recognising the need to collect COVID-19 cough samples internationally, provides us with a high degree of certainty in planning our programs.

We are very grateful to the Federal Government for their commitment to supporting research and development by Australian companies.

ResApp share price summary

Until recently, ResApp shares were trading at multi-year lows, before shooting up in September. The past month alone has netted investors a return of more than 115%, however year-to-date, is up marginally at 14%.

ResApp commands a market capitalisation of about $83.3 million and has 859 million shares on its books.

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At the time of writing, the digital health company's shares are up an astonishing 18.92% to 8.8 cents. This means that over the past week, its shares have climbed by more than 65%, reflecting renewed investor optimism.

With no news out of the company today, let's take a look at its latest updates to the ASX.

What did ResApp recently announce?

Looking back, ResApp provided its full-year results in late August, reporting an improvement when compared to the prior year (FY20).

For the 12 months ending 30 June, ResApp brought in revenue from a contract with customers of $69,371. This came from the launch of three new products during the year. They included ResAppDx (acute respiratory disease diagnostic tool), ResAppCC (cough counter and smartphone application), and SleepCheck (sleep apnoea screening application).

The net loss for the period stood at $6.77 million, down 20% on FY20's net loss of $8.49 million.

ResApp retained a cash balance of $6.59 million. Net cash used in operating activities totalled $5.6 million.

However, at the start of this month, the company advised it received regulatory approval for ResAppDx in Indonesia. Another new international market following ResApp's entry into Kenya in May 2021.

As such, ResApp partnered with the largest provider of telehealth services in the country, Alodokter to launch ResAppDx before December 2021.

ResApp CEO and managing director, Dr Tony Keating commented:

Obtaining regulatory approval in Indonesia is an important step in our partnership with Alodokter. With a population of over 270 million and a growing telehealth market, Indonesia represents an exciting opportunity for ResApp and with Alodokter we have an important partner that should see significant use of ResAppDx by doctors and their patients.

ResApp share price summary

While over the past month, investors have seen their ResApp holdings accelerate 90% in value, it has been a different story since this time last year. In fact, the company's shares are down more than 20% from September 2020, even after this week's wild gains.

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The company – which provides health care solutions for respiratory diseases via smartphone applications – emerged from Monday's trading halt this morning.

And investors appear to be driving the ResApp share price higher following 2 separate market announcements. We take a look at those below.

What did ResApp announce?

ResApp's share price is soaring after the ASX healthcare share reported it has signed a software licence agreement with Indonesian-based telehealth company Alodokter.

Under the agreement, Alodokter, the largest provider of telehealth services in Indonesia, will integrate ResAppDx in its chat and telehealth services.

Alodokter plans to launch ResAppDx, a smartphone-based acute respiratory diagnostic test, on its platform before 1 December. According to the announcement, that platform connects more than 50,000 doctors and 1,500 hospitals and clinics with millions of Indonesian patients.

Commenting on the software licence agreement, Alodokter's CEO Nathanael Faibis said, "ResApp's technology will allow us to serve more patients in a remote, telehealth setting and effectively diagnose and treat their respiratory disease."

Faibis added that his company was "very impressed with the simplicity, ease of use and accuracy of ResAppDx".

ResApp's CEO Tony Keating said, "This partnership will create value for ResApp, Alodokter and our collective shareholders and stakeholders."

The agreement remains subject to approval from Indonesian regulators. ResApp said it expects to obtain that approval this quarter.

What was ResApp's other news?

The ResApp share price also looks to be getting a lift from a separate licencing announcement this morning.

The company reported it has signed a commercial licence agreement with Medgate AG to use ResAppDx on Medgate's telehealth platform in Europe and the Philippines.

Medgate provides telehealth services and operates the largest telemedical centre run by doctors in Europe.

Keating commented:

Medgate is a long-standing, global leader in telehealth and we are pleased to enter into a commercial licence agreement that provides ResAppDx for the benefit of their clinicians and patients.

We are delighted to secure our first commercial telehealth license agreement in Europe and receive a positive endorsement of ResAppDx by such a successful leader in the telehealth field.

The agreement is for an initial 1-year term.

ResApp share price snapshot

Despite today's surge, the ResApp share price remains down 63% over the past 12 months, a period which has seen the All Ordinaries Index (ASX: XAO) gain 26%.

Year-to-date, ResApp's share price has continued to struggle, down 40%.

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