Australia's Cyclopharm jumps on US pass-through tag for lung imaging tech

Cyclopharm

05/06/2024 03:23

** Shares of Cyclopharm  CYC.AX  rise as much as 14.3% to
A$1.6, posting their biggest intraday percentage gain since
March 31, 2023
    ** Stock hits its highest level since May 23 
    ** Radiopharmaceuticals maker says its diagnostic lung
imaging equipment, Technegas, received pass-through status from
the Centers for Medicare & Medicaid Services in the United
States
    ** Says status will allow patients to receive full
reimbursements for Technegas under Medicaid, the federal health
programme for low-income people
    ** About 241,300 shares change hands, compared with the
30-day average volume of around 128,500
    ** Stock down 27.3% YTD, as of last close



 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))