ResApp shares down on study results

Shares in medical tech company ResApp Health slumped today after it released positive test results, following a spike in the share price leading up to the announcement.

Perth-based ResApp said it had received excellent preliminary results for its smartphone app, which aims to diagnose and manage respiratory diseases.

The technology is based on machine learning algorithms that use sound to diagnose and measure the severity of respiratory conditions without the need for additional hardware.

The company’s share price fell 14 per cent to 15 cents each today. It had been hovering between 12 and 13 cents in the previous month before reaching 18 cents yesterday, when it was placed into a trading halt.

In response to an ASX price query yesterday, the company said it was presenting at the TechKNow Invest conference starting in Sydney today and in Melbourne on Thurdsay, which has historically generated interest in the company.

The company said the preliminary results from ResApp’s study achieved 86 per cent sensitivity and 83 per cent specificity for identifying patients with an apnoea hypopnea index greater than or equal to 15

“We are very excited about these excellent preliminary results for identifying OSA,” managing dirtector Tony Keating said.

“There is a strong clinical and economic need for reducing the number of undiagnosed sleep apnoea sufferers and by utilising a smartphone we have the opportunity to deliver a highly scalable, accurate and easy-to-use screening test to the mass market.

“By leveraging our expertise in using audio signatures to identify respiratory conditions we have created another large commercial opportunity.”

The company is currently recruiting patients for a prospective study and is targeting a regulatory submission by the end of this calendar year.