The company said in a statement to the ASX that it had received 510(k) clearance from the US Food and Drug Administration for its product 3DICOM MD Cloud, as a Class II Software as a medical device.

This built on an earlier FDA clearance for the desktop 3DICOM MD software granted in October.

New technology more adaptable

The company said the cloud-based, browser-enabled version of the software removes the need for hardware and complex desktop installations, "lowering adoption barriers and improving usability for healthcare organisations''.

The 510(k) clearance allows the new version of the software to be marketed for use in the US.

The company went on to say:

The clearance represents a significant regulatory milestone and further strengthens Singular Health's U.S. market strategy by expanding its regulated product portfolio. This clearance represents a significant step forward for Singular Health as it expands the company's portfolio of regulated products and strengthens its U.S. commercial strategy.

Singular Health Managing Director Denning Chong said the FDA clearance was achieved well ahead of schedule.

He went on to say:

This clearance, achieved well ahead of time, represents a major milestone for Singular Health and our U.S. strategy. 3DICOM MD® Cloud removes many of the traditional barriers to adoption by eliminating the need for hardware and complex desktop installations, while expanding modality coverage to include X-ray and ultrasound. This positions the Company to scale faster and drive greater impact in reducing duplicate imaging.

Singular Health's 3DICOM technology transforms medical scans into interactive 3D models.

The company said on Tuesday that the potential market for the technology was very large:

The company estimates a significant U.S. opportunity to address unnecessary duplicate imaging, with a total addressable market (TAM) of approximately US$16.5B. This estimate is based on direct imaging costs of US$236.5B and an estimated 7.7% duplicate occurrence across PET, CT, MRI, X-ray and ultrasound1. Importantly, X-ray and ultrasound were not supported in the previously cleared desktop version but are included in 3DICOM MD Cloud, materially expanding the range of clinical pathways and use cases the platform can support and broadening the Company's addressable market.    

The company's shares traded as high as 30 cents in early trade, up 15.4%, before settling back to be 9.6% higher at 28.5 cents.

The company was valued at $81.6 million at the close of trading on Monday.

The post This ASX biotech's shares are up strongly on good news out of the US appeared first on The Motley Fool Australia.

The Motley Fool chats with fund managers so that you can get an insight into how the professionals think. In this edition, Red Leaf Securities chief executive John Athanasiou explains why he loves the themes driving his 2 favourite ASX shares.

Hottest ASX shares

The Motley Fool: What are the 2 best stock buys right now?

John Athanasiou: Well, the two best buys are Singular Health Group Ltd (ASX: SHG) and Mad Paws Holdings Ltd (ASX: MPA). 

I'll kick off with Mad Paws, which is actually raising equity now as we speak. The reason why we love Mad Paws is it's the leading online participant in Australian pet care. And we expect them to make significant earnings over the medium term. 

We all know tailwinds in the industry of increased levels of pet ownership. Everyone bought a pet during lockdown to have some company. And they're not shy about spending a dollar when it comes to pets.

Now, Mad Paws has got a growth-by-acquisition strategy and they're currently in the process of buying a business as we speak that we believe is very value creative. They're acquiring Pet Chemist, which happens to be Australia's leading online supplier of pet health care products. They're raising $5.5 million at 18 cents as an SPP [share purchase plan] attached to that. So we'll be telling existing shareholders to participate in that.

There are not many pet service companies out there and that's why we really like it, because it's one area we think is going to really grow.

MF: It only listed March last year, didn't it?

JA: Yeah. The reality is, it hasn't done anything. It IPOed at 20 [cents]. It fluctuated around 25, 18, 17. It hasn't done too much. But we do believe that the market will come around.

MF: Did your team buy during the initial public offer?

JA: Yeah, we participated in the IPO. When it pulled back, we picked up more, so we've been big supporters of it.

And Singular Health Limited, we believe that metaverse is a long-term trend. Now, obviously, that gained investor attention thanks to [Meta Platforms Inc (NASDAQ: FB) chief] Mr Zuckerberg. There are only about half a dozen of these metaverse companies on ASX. Obviously, that'll probably grow.

Singular Health is our preferred company in this space, given its low market cap and its disruptive radio technology, which converts 2D medical images into 3D models that you can view on your mobile desktop, virtual reality devices. So very clever technology with plenty of upside there. We all know that the health sector will continue to grow, so it benefits from that as well.

MF: So Singular Health is using the metaverse to perform diagnosis?

JA: Correct. Correct.

The post 2 small-cap ASX shares the market hasn't woken up to yet appeared first on The Motley Fool Australia.

Meanwhile, the S&P/ASX 200 Health Care Index (ASX: XHJ) matched the broader market and also finished 0.11% higher today.

These 3 ASX health care shares stood out as clear winners amongst the packs, with each beating the market by 10% today. Here are the details.

Emyria Ltd (ASX: EMD)

Clinic and software operator Emyria came out 10% on top today despite there being no market sensitive information from the company.

However, Emyria shares took off in an almost vertical fashion last week and haven't slowed since. The company did release a flurry of announcements this week. Even still, investors were piling in and driving up prices in the days beforehand.

For instance, it announced a collaboration with strategic investor Tattarang, where the private investment group secured $5 million in Emyria via a share placement.

The funds will be used to accelerate synthetic cannabinoid registration programs with the TGA and FDA, and advance Emyria's novel MDMA-analogue development program with the University of Western Australia.

Then it followed up two days later advising it had received a $1.162 million R&D tax incentive refund, which kept its share price tracking upwards until today.

All in all, it's been a pleasant gain this month for Emyria shareholders. After a slight hiccup mid-month, the Emyria share price has gained over 92% so far in November.

Control Bionics Ltd (ASX: CBL)

Shares in Control Bionics also came out on top today, closing around 11.5% higher at 45.75 cents. Control's share price has been rolling downhill these past 3 months and has come off a 3-month low of 40.5 cents as of yesterday.

However, its presentation at the Morgans Investment conference yesterday appears to have gained investors' attraction once more. In the display, the company noted that it is aiming to combine its "NeuroNode wearable technology with high quality eye-gaze camera technology creating market leading products that delivered faster communication speed and significantly less fatigue than existing competition globally".

It also noted revenue of almost $4 million in FY21 and a healthy balance sheet with $12 million in liquidity as of 30 June 2021.

Control Bionics also intends to expand its product range within the assistive technology market for autism. Today's gains are welcomed after a difficult year for the company's share price, having posted a loss of 61% in the past 12 months.

Singular Health Group Ltd (ASX: SHG)

Shares in technology-driven imaging player Singular Health jumped 10% to finish at 27.5 cents. In fact, Singular Health shares have climbed 17% in the past 2 days, after hitting the ceiling at 30 cents last week.

Investors appear to have had a mixed reaction to confirmation that Singular is forming a 50/50 joint venture (JV) with TerraCentric Pty Ltd under the name of GeoVR Pty Ltd.

The sole purpose of the JV is to commercialise 3D and virtual reality software GeoVR technology. Specifically, the new company will focus on mineral exploration data to be visualised in a fully interactive 3D environment.

The move was labelled as a critical step by the company in diversifying away from traditional medical markets.

Following the release, shares jumped slightly, before tumbling over 21% in a matter of days. So today's gains are a hard one to pinpoint but are definitely part of the wider volatility in this name.

For instance, the Singular Health share price has traded as high as 30 cents and closed as low as 16 cents in the past 3 months – a 130% spread in pricing.

These 3 ASX health care shares all cruised past the market today amid strengths in the wider sector.

The post 3 ASX health care shares that burned the market today appeared first on The Motley Fool Australia.

Memphasys Ltd (ASX: MEM)

Shares in medical device and biotechnology company Memphasys have soared 33% in vertical fashion today and are now trading at 9.6 cents apiece.

While there is no market-sensitive information for the company today, investors have been piling into this ASX healthcare share over the past few weeks.

It appears investors are chasing a spot in the company after it announced the validation and verification assessments for its Felix device are now complete.

The Felix device will be used to remove poor quality sperm samples in in-vitro fertilisation (IVF) to ensure the highest chance of success in contraception.

Following the announcement on 3 November, Memphasys shares spiked 26%, and haven't slowed down since.

With today's gain, this marks a 51% return for the company's shareholders this past month.

Singular Health Group Ltd (ASX: SHG)

Shares in technology-driven imaging player Singular Health popped in early trading following a company announcement.

This ASX healthcare share advised that it is forming a 50/50 joint venture (JV) with TerraCentric Pty Ltd under the name of GeoVR Pty Ltd.

The sole purpose of the JV is to commercialise what Singular labels GeoVR technology, which "allows for mineral exploration data to be visualised in a fully interactive 3D environment".

The company acknowledges this is an important step in validating its technology, as it allows for collaborative review of near real-time exploration and production activities from anywhere.

Singular Health's CEO Thomas Hanly believes the GeoVR is a "critical step" for the company in pivoting its technology outside of medical markets.

Following the release, shares in the company rallied as high as 14% in early trading, before reversing course to trade as low as 29 cents – just a 1.75% gain. At the time of writing, its share price is 29.5 cents — a 5.4% gain.

Capitol Health Ltd (ASX: CAJ)

The Capitol Health share price is trading almost 8% higher at 37.2 cents at the time of writing.

Investors have been bidding up shares in the provider of diagnostic imaging services following its annual general meeting (AGM) held today.

In its AGM, the company reiterated its FY21 results, where it recorded underlying organic growth of 10.3% for the year.

Furthermore, this ASX healthcare share also provided colour on its FY22 guidance, where it hopes to retain a sustainable operating margin of 23–24%.

It also intends to continue pursuing "value creative bolt-on acquisitions aligned with [its] strategic plan", helped by carrying a strong balance sheet.

The presentation also notes that Capital intends to build out its new clinical governance framework and radiologist leadership roles.

Investors have been quick to buy in following the company's AGM. For instance, the volume of Capitol Health shares traded today is more than 25% ahead of its 4-week daily average volume.

Capitol Health shares have climbed 37% these past 12 months after rallying 34% this year to date.

The post These 3 ASX healthcare shares are soaring today. Why? appeared first on The Motley Fool Australia.

The price rocketed after the company announced the completion of a project developed with the Australian Government.

At the time of writing, the Singular Health share price had retreated slightly, trading for 60 cents each, still up 1.7%. By comparison, the S&P/ASX All Ordinaries Index (ASX: XAO) is down 0.04%.

Let's take a closer look at Singular Health's announcement.

Singular Health and CSIRO develop AI medical technology

Today's announcement shook the Singular Health share price. In a statement to the ASX, Singular Health declared it and the Commonwealth Scientific and Industrial Research Organisation (CSIRO) had developed "an artificial intelligence [AI] model capable of automatically segmenting spinal vertebrae from CT scans."

According to Singular Health, the automatic segmentation of the spine will enable surgeons and radiologists to closely examine the spines of patients through 3D models. Doctors will be able to manipulate models down to individual vertebrate. This will enable medical professionals to "better plan their surgeries and even design custom surgical implants and guides."

Consequently, Singular Health believes the product will drastically cut diagnostic times for practitioners. Overall this should reduce times from a few hours to only a couple of minutes.

The project was made possible due to the CSIRO's Kick-Start program. The agency provides funding and research assistance to small-and-medium Australian technology companies. The program matches company investment in research and development between the sums of $10,000 – $50,000. Additionally, this program allows companies to use CSIRO staff, equipment, and related expenditures.

Management Commentary

Dr. Guan Tay, executive director of Innovation at Singular Health, said the following about today's announcement:

Singular Health has had the unique opportunity to access the deep-domain knowledge of CSIRO's data scientists to develop this semi-automated instance segmentation and labelling of the spinal vertebrae. We are conducting further testing and validation of the spine segmentation function before commercial release.

The use of artificial intelligence in medical imaging, and more specifically radiology, has the ability to profoundly change the workflow for radiologists.

With around 45,000 Australian's undergoing spinal surgery every year, the rapid segmentation will save thousands of hours for radiologists and surgeons who will only have to make small mark-ups and/or validate the segmentation as opposed to manual segmentation slice-by-slice.

We would like to thank the team at CSIRO and the efforts of our internal developers for their dedication to the collaborative research project and for delivering a successful outcome.

Singular Health share price snapshot

Since its IPO in early February, the Singular Health share price has increased by 57.89%. A healthy return for a company not even 2 months old.

At its current valuation, Singular Health has a market capitalisation of $61.3 million.

The post Why the Singular Health (ASX:SHG) share price opened nearly 10% higher today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price is down 5% to $19.01. This decline has been driven by a pullback in the iron ore price on Friday night. According to CommSec, the iron ore price fell by a further US$5.80 a tonne or 3.5% to US$160.20 a tonne on Friday. This was driven by reports that Chinese regulators will restrict output for some steel mills in Tangshan until the end of 2021.

Freedom Foods Group Ltd (ASX: FNP)

The Freedom Foods share price has crashed 80% lower to 62 cents. This is actually a big improvement on its earlier performance. In morning trade the diversified food company's shares returned from their nine-month suspension by crashing a whopping 94% to 18 cents. Freedom Foods' shares returned to trade after undertaking a major recapitalisation.

QBE Insurance Group Ltd (ASX: QBE)

The QBE share price has fallen 2.5% to $9.52. This decline appears to have been driven by concerns that the terrible floods in New South Wales could result in a huge spike in claims. On a more positive note, this morning the insurance giant advised that it has no credit exposure to Greensill entities.

Singular Health Group Ltd (ASX: SHG)

The Singular Health share price has sunk 7% to 64.5 cents despite announcing an acquisition, investment, and contract win. The medical technology company has acquired Virtual Surgical Planning software and will integrate it into its existing MedVR software. In addition to this, Singular Health plans to invest $300,000 for 25% equity stake in Australian Additive Engineering. Finally, leading medical computer aided design company, Lyka Smith, has agreed to purchase 50 software licenses.

The post Why Fortescue, Freedom Foods, QBE, & Singular Health are sinking appeared first on The Motley Fool Australia.

At the time of writing, the medical technology company's shares are down 13.5% to 60 cents.

Why was the Singular Health share price in a trading halt?

Last Monday the Singular Health share price was placed into a trading halt and subsequent suspension pending the release of an acquisition and investment announcement.

That announcement has now been made and reveals that Singular Health has entered into binding agreements to further enhance its capabilities in surgical planning, 3D visualisation, and the vertical integration of medical computer aided design and additive manufacturing.

According to the release, the company intends to acquire Virtual Surgical Planning software and integrate it into its existing MedVR software.

In addition to this, Singular Health plans to invest $300,000 for 25% equity stake in Australian Additive Engineering (AAE). AAE will then lease polymer and titanium 3D printers for capital efficient manufacturing of craniofacial surgical guides and personalised fixment plates.

Management believes the transactions will strengthen Singular Health's mission to develop technologies to provide patients and practitioners with access to personalised, enhanced medical data. They also expect them to form part of a long-term vision by all parties to deliver a personalised end-to-end surgical planning platform in the maxillofacial sector from scan through to surgery.

Purchase order

In other news, the company has revealed that leading medical computer aided design company, Lyka Smith, has agreed to purchase 50 licenses of integrated software for maxillofacial planning at $300 per month per license.

Lyka Smith's Managing Director, Benjamin Baxter, said: "Lyka Smith is looking forward to working with Singular Health and the opportunities provided by integrating VSP into MedVR/3Dicom. We have demonstrated MedVR to a number of clients and the interest received led to our commitment to purchase 50 licenses."

Singular Health's Chief Executive Officer, Thomas Hanly, added: "It has been a considerable amount of effort by all parties and we at Singular Health are excited to be working with Lyka Smith to integrate the Virtual Surgical Planning software into MedVR and optimise their existing processes for maxillofacial surgery preparation."

"The commitment by Lyka Smith to purchase 50 MedVR licences (following integration with the VSP software) for their clients, reinforces Singular Health's position as a leader in the development of world leading medical visualisation and planning software."

Mr Hanly also spoke positively about the future and working with AAE and its executive Hugh Tevelein.

"Furthermore, we are very pleased to invest in and work with Hugh and his team, with his extensive experience in metallic 3D printing and presents us with the opportunity to accelerate our commercialisation strategy in the healthcare 3D printing industry that, according to Frost and Sullivan, is estimated at US$1.63 billion and is forecast to grow to US$3.78 billion by 2025 at a CAGR of 20.4% between 2015 and 2025," he concluded.

However, judging by the Singular Health share price performance today, some investors aren't as sure about these transactions as management is.

The post Why the Singular Health (ASX:SHG) share price is sinking 13% today appeared first on The Motley Fool Australia.

The medical imaging technology company went into a trading halt on Monday pending an announcement. On Wednesday, the day its shares were to resume trading, the company then requested a voluntary suspension from quotation.

Let's look deeper into the trading halt.

Singular Health trading halt

The Singular Health share price has gone nowhere this week after the company remained in a trading halt pending further news regarding an acquisition and investment.

The company has kept any other details of the announcement secret, inevitably building anticipation among some investors.

At this point in time, however, it seems we will have to continue being patient to hear the company's news.

The trading halt is to be lifted on Wednesday 24 February or until such time as Singular Health releases the announcement. Until then, we'll just have to wait and see what the market newcomer has to share.

Trading halt follows rapid share price rise

Singular Health's short time on the ASX has been profitable for shareholders. The company was first listed on 12 February 2021, following an oversubscribed capital raising.

30 million shares were offered at 20 cents each in Singular Health's initial public offering (IPO), which raised around $6 million. This gave the company a market capitalisation of around $20 million.

Its first day on market saw the Singular Health share price gain a spectacular 90%. It has also gained another 83% since then. 

About Singular Health 

Singular Health is a Western Australian company operating in the medical imaging and printing industry.

It develops proprietary software and technology to collect medical data and help healthcare professionals and patients make informed decisions.

The company claims its volume-rendering platform accurately converts 2D medical imagery into volumetric 3D models. The models can be viewed and modified using standard monitors or virtual reality. Singular Health's software is currently used in its flagship product MedVR.

Singular Health share price snapshot

On its last day of trading prior to the trading halt, the Singular Health share price was sitting at 69.5 cents.

Singular Health has a current market capitalisation of around $32.5 million with approximately 102 million shares outstanding.

The post Why is the Singular Health (ASX:SHG) share price frozen? appeared first on The Motley Fool Australia.

Singular Health has gained a spot on plenty of watchlists over the last couple of weeks. It might be worth recapping what all the fuss is about.

What does Singular Health offer?

The proprietary technology developed by Singular Health enables the viewing of a 3D image, which is compiled of 2D medical images. More specifically, this technology is the company's volumetric rendering platform.

Singular Health notes that this technology provides immersive viewing across a range of medical applications. Such applications include orthodontics, maxilla-facial surgery, oncology, general surgery, and orthopedics.

In addition to this, MedVR is Singular Health's product which allows the viewing of scans through an interactive virtual reality experience.

The company derives its revenue from both initial hardware sales and subscription payments on an on-going basis for the use of software, commonly referred to a software-as-a-service (SaaS).

Recent Singular Health developments affecting the share price

With Singular Health being a small and upcoming player in a fairly competitive space, shareholders would be looking for progress. On Monday, shareholders got exactly that. The company announced that it had received a purchase order totalling $170,000 for development of GeoVR software.

The order was received from FlowCentric Technologies, with which Singular Health is also in the process of finalising a joint venture. The purchase order will enable FlowCentric to conduct a pilot program using Singular Health's GeoVR software.

You might be thinking, well this a world away from medical imaging. And you'd be correct. But the volumetric rendering technology developed by Singular Health spans multiple use cases. In this instance, it will be used to develop a commercially viable product that utilises imaging and predictive technologies for mining and exploration.

FlowCentric currently services over 350,000 users with its business process management software. These include a number of global resource companies.

For further progress on the medical imaging front, shareholders will have to wait a little longer to see that play out.

The post The Singular Health (ASX:SHG) share price launched 27% higher today appeared first on The Motley Fool Australia.

In morning trade the 3D medical imaging company's shares were up as much as 10% to 45 cents.

The Singular Health share price has since pulled back a touch but is still up 3.5% to 42.5 cents currently.

Why is the Singular Health share price shooting higher?

Investors have been buying Singular Health shares today after it announced a new purchase order.

According to the release, the company has received a $170,000 purchase order and payment schedule from FlowCentric Technologies. The purchase order will allow FlowCentric Technologies to conduct a pilot program using Singular Health's GeoVR software.

The pilot program aims to develop a prototype, commercially viable product, with an integrated special database that utilises imaging and predictive technologies for mining and exploration. It will leverage the company's proprietary Volumetric Rendering Platform (VRP).

FlowCentric Technologies is a software development company delivering Business Process Management software to over 350,000 users. It services a number of Tier 1 resources companies globally.

Joint venture

In addition to the purchase order, the two companies are currently finalising the terms for a joint venture in which they will each hold 50% of the issued shares.

This joint venture will aim to develop and utilise advanced imaging and predictive technologies into a software application, GeoVR, that can be used in mining and exploration activities.

The release explains that upon the receipt of the $170,000, Singular Health will be obligated to transfer all title and intellectual property relating to the GeoVR software into the new joint venture company.

Management commentary

Singular Health's CEO, Thomas Hanly, commented: "Whilst we remain focused on our core vision of Developing Better Health Literacy, this pilot program with FlowCentric Technologies presents a great opportunity to deploy our proprietary Volumetric Rendering Platform for use in the mineral resources sector."

"FlowCentric is a logical partner for Singular Health with their large number of existing business relationships in South Africa and Australia with leading geological software providers and resource companies."

"Furthermore, forming joint ventures with established businesses to build new verticals is critical to ensuring that we remain focused on our medical applications whilst also providing access to domain specific expertise and established client bases. The revenue earned from this pilot program also reinforces the Company's objective of advancing the commercialisation of its technology," he concluded.

The Singular Health share price has more than doubled since its IPO earlier this month.

The post Why the Singular Health (ASX:SHG) share price is shooting 10% higher appeared first on The Motley Fool Australia.

In afternoon trade the 3D medical imaging company's shares are up a further 26% to 48 cents.

This means the Singular Health share price is now up a massive 140% from its listing price of 20 cents.

Why is the Singular Health share price surging higher?

Investors appear to have been buying Singular Health shares due to excitement around the company's technology.

Singular Health is a technology-driven medical imaging company with the aim of developing technologies that provide patients and practitioners with access to personalised, enhanced, medical data to inform better health decisions.

Its key solution is the Volumetric Rendering Platform. This platform uses proprietary code and algorithms to accurately convert traditional 2D medical imagery into volumetric 3D models.

Once this imagery has been converted into 3D models, users are able to visualise, manipulate, modify, and review the model using a standard monitor or by utilising virtual reality.

Management notes that its platform has several distinct advantages. It expects these advantages to drive adoption in the areas of surgical planning, medical education, and patient education.

What's next?

Singular Health raised $6 million from its IPO. The proceeds will be used to execute its growth strategy, fund research and development, working capital, and for the purchase of a titanium 3D printer.

In respect to its growth strategy, management appears positive on the future.

It commented: "Singular Health has already established a strategy for the vertical integration of the Company's capabilities, in collaboration with key opinion leaders and joint ventures with established businesses, to develop an end-to-end solution for the visualisation, analysis and segmentation via artificial intelligence and production of bespoke solutions through additive manufacturing."

However, it is still early days. Furthermore, a significant amount of future growth is already being priced into Singular Health's shares.

Based on the current Singular Health share price and its 102.2 million shares outstanding, the company has a market capitalisation of $49 million. This compares to financial year to date revenue of just $22,000.

The post The Singular Health (ASX:SHG) share price is now up 140% since its IPO appeared first on The Motley Fool Australia.

At one stage today, the 3D medical imaging company's shares were up 102.5% from its listing price to 40.5 cents.

The Singular Health share price has retreated slightly but remains up 87.5% to 37.5 cents at the time of writing.

The Singular Health IPO

Singular Health shares landed on the ASX boards today after completing an oversubscribed initial public offering (IPO) which raised $6 million at 20 cents per share.

According to its prospectus, the proceeds will be used to execute its growth strategy, fund research and development, working capital purposes, and for the purchase of a titanium 3D printer.

What is Singular Health?

Singular Health is a technology-driven medical imaging company. It has the mission of developing technologies that provide patients and practitioners with access to personalised, enhanced, medical data to inform better health decisions.

Its Volumetric Rendering Platform uses proprietary code and algorithms to accurately convert 2D medical imagery into volumetric 3D models. Users can then visualise, manipulate, modify, and review the model using a standard monitor or by utilising virtual reality.

The company is also looking to use its software to develop complementary new products. This includes, GeoVR, a product for the visualisation of geological data in 3D and virtual reality.

And while the company has now successfully completed the research, technology development, product development, and market validation stages of its commercialisation, it's still very early on in respect to revenue generation.

As things stand, the company has generated unaudited revenue of $22,609 so far in FY 2021.

But judging by the performance of the Singular Health share price today, some investors expect a big jump in revenue in the coming years.

The post Singular Health (ASX:SHG) share price rockets 100% higher following IPO 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 storming higher:

Novonix Ltd (ASX: NVX)

The Novonix share price has jumped 7% to $2.88. Investors have been buying the battery materials company's shares after it announced the extension of its sponsorship of Prof. Mark Obrovac's lab at Dalhousie University. This will be through a new research agreement under the Natural Sciences and Engineering Research Council (NSERC) of Canada's Alliance Grants Program. Novonix will have first rights to intellectual property developed from this agreement.

Recce Pharmaceuticals Ltd (ASX: RCE)

The Recce share price is up 6% to $1.09 after reporting encouraging results from its COVID-19 studies. According to the release, the results from RECCE 327 (R327) are demonstrating encouraging virucidal activity against the SARS-CoV2 virus (COVID-19) with a positive safety profile. These findings are based on independent tests conducted by the CSIRO/Doherty Institute.

Singular Health Group Ltd (ASX: SHG)

The Singular Health share price has rocketed 92.5% higher to 38.5 cents following its successful IPO. The 3D medical imaging company's shares hit the ASX boards this morning after raising $6 million at 20 cents per share. The company's proprietary software and technology has been designed to improve the collection of medical data to inform better health decisions.

Starpharma Holdings Limited (ASX: SPL)

The Starpharma share price is up 4.5% to $2.13. Investors have been buying the biotech company's shares after it signed a research agreement with global pharmaceutical giant Merck & Co. (MSD). The agreement will see MSD conduct a preclinical research evaluation of dendrimer-based Antibody Drug Conjugates (ADCs) utilising Starpharma's proprietary DEP technology.

The post Why Novonix, Recce, Singular Health, & Starpharma shares are storming higher appeared first on The Motley Fool Australia.

Singular Health officially lists on the ASX

Singular Health shares will be officially listed on the ASX today after the company completed a successful initial public offering (IPO).

The IPO, which offered up to 30 million shares to investors at 20 cents per share was heavily oversubscribed. As a result, Singular Health managed to raise around $6 million upon entering official quotation.

It is understood that five institutional investors participated in the capital raising, along with sophisticated and retail investors.

The successful public offering also gives Singular Health a market capitalisation of around $20 million.

According to the company's prospectus, the capital raise will provide Singular Health with financial flexibility for research, development and future growth opportunities.

What does Singular Health do?

Singular Health is an Australian based medical imaging company that operates in the 3D medical imaging and printing industry.

The company develops proprietary software and technology which is designed to improve the collection of medical data to inform better health decisions.

Singular Health generates revenue through two primary streams. Firstly, through the upfront revenue from the sale of hardware and secondly through recurring monthly and annual subscription fees.

The company's Volumetric Rendering Platform technology creates a 3D image viewed in virtual reality using a series of 2D medical images. This technology is used in five of Singular Health's software products which, according to the company, gives it a competitive edge.

Singular Health advises that its technology can be used across a range of medical applications. These include orthodontics, maxillo-facial surgery, oncology, general surgery and orthopaedics.

MedVR is the company's flagship product which is listed on the Australian Register of Therapeutic Goods.

According to Singular Health, MedVR software is currently used by medical practitioners, students, hospitals and universities in various countries including Hong Kong, Singapore, South Africa and Switzerland. 

Foolish takeaway

At the time of writing, Singular Health shares are poised to open the trading day at their IPO price of 20 cents per share. Shares in the company are expected to begin trading on the ASX at 11am AESDT. 

The post Singular Health (ASX:SHG) shares arrive on the ASX appeared first on The Motley Fool Australia.