Cyclopharm Limited ( (AU:CYC) ) has provided an update.
Cyclopharm Limited reported a record financial performance for 2024, driven by significant growth in its Technegas™ sales, particularly in the US market. The company achieved a 131% increase in US revenues, supported by new installations and strategic contracts with major healthcare institutions. The expansion in the US is expected to lead to sustained revenue growth, as Technegas™ gains traction among clinicians and healthcare facilities. Despite an after-tax loss due to ongoing USFDA approval expenses and increased operational costs, Cyclopharm is strategically positioned to enhance its market leadership in lung imaging.
More about Cyclopharm Limited
Cyclopharm Limited operates in the healthcare industry, focusing on nuclear medicine and lung imaging solutions. Its primary product, Technegas™, is a lung ventilation imaging system used for diagnosing pulmonary embolism and other respiratory diseases. The company is expanding its market presence, particularly in the United States, and is recognized for its innovative imaging technology.
YTD Price Performance: 25.55%
Average Trading Volume: 110,032
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: A$221.2M
For an in-depth examination of CYC stock, go to TipRanks’ Stock Analysis page.