Echo IQ Faces Setback in CPT Code Application, Plans Resubmission

EchoIQ Limited ( (AU:EIQ) ) has provided an update.

Echo IQ Limited recently faced a setback as its application for a Category III CPT code for its EchoSolv AS technology was rejected by the American Medical Association’s CPT Editorial Panel. The rejection was due to unmet criteria, but the company is optimistic about addressing these deficiencies and plans to resubmit by June 11, 2025, aiming for consideration in the September 2025 meeting. This development temporarily affected the company’s stock trading, prompting a trading halt to formulate an appropriate market announcement. Echo IQ remains confident in its ability to align with the AMA’s criteria and secure the necessary code, which could enhance its market positioning and stakeholder confidence.

The most recent analyst rating on (AU:EIQ) stock is a Buy with a A$0.38 price target. To see the full list of analyst forecasts on EchoIQ Limited stock, see the AU:EIQ Stock Forecast page.

More about EchoIQ Limited

Echo IQ Limited operates within the medical technology industry, focusing on developing innovative solutions for noninvasive evaluation of heart conditions. Its primary product, EchoSolv AS, is designed for augmentative analysis of echocardiogram measurements, specifically targeting aortic stenosis evaluation.

Average Trading Volume: 2,693,379

Technical Sentiment Signal: Buy

Current Market Cap: A$206.5M

For detailed information about EIQ stock, go to TipRanks’ Stock Analysis page.