Australia's Cardiex eyes best day in 4 weeks on upbeat forecast

Conneqt Health

18/06/2024 02:09

** Shares of Cardiex  CDX.AX  rise as much as 17.2% to
A$0.068, posting their biggest intraday pct gain since May 20
    ** Shares of digital health technology co hit highest level
since May 28
    ** Co says it's on track to exceed revenue of A$12 mln
($7.94 mln) in FY24 vs A$6.01 mln in FY23
    ** Says co confident of achieving a record year of research
sales 
    ** Says its new Conneqt Pulse device, which monitors heart
rate and blood pressure, among others, scheduled to arrive in
the first week of July
    ** Says device's first full production run and deliveries to
the United States scheduled for Q1 FY25, with co anticipating
strong demand for the product
    ** Stock down nearly 52% YTD, as of last close 

($1 = 1.5115 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))