Why the Painchek (ASX:PCK) share price is charging 13% higher
Mitchell Lawler | March 17, 2021 12:51pm |
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PainChek Ltd(ASX: PCK) share price is soaring today after the company announced it has received approvals for its latest pain monitoring app update.
At the time of writing, the mobile medical app developer’s shares are up 13% to 7.8 cents per share.
What did Painchek announce?
The Painchek share price is moving after it provided an update this morning noting the company had received CE Mark and Therapeutic Goods Administration (TGA) clearance for its expanded Universal Pain Assessment Solution, or ‘Universal’ application.
According to the release, these clearances will allow the app to be marketed and sold across Europe, the UK, Australia, Canada, Singapore, and New Zealand.
Why the Painchek (ASX:PCK) share price is edging higher today
Daniel Ewing | February 26, 2021 6:28pm |
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PainChek Ltd(ASX: PCK) share price was among the few ASX shares that stayed in the green today, closing up 2.56% at 8 cents.
The share price increase came off the back of the company half-year report announced to the market yesterday. Let’s take a look.
Why did the Painchek share price rise today?
Shares in the small-cap rose as revenue jumped 40% to $2.08 million for the half-year ending 30 December 2020.
However, this does not fully represent how the company performed in the period. Looking deeper into the results, we can see that revenue from continuing operations fell 30% to $127,000. The majority of the group’s revenue was made up of research and development (R&D) and government grants.