The document is a response from 4DMedical Limited to an ASX query letter regarding the disclosure of several agreements with major US healthcare institutions. These agreements involve the use of 4DMedical's CT:VQâ„¢ technology and are considered strategically important for validating the company's technology. However, 4DX did not disclose specific financial details, citing a lack of guaranteed revenue commitments. The ASX questioned the adequacy of these disclosures and whether they were part of a strategy to ramp up the company's share price before a capital raise. 4DX defended its approach, stating it aligned with ASX guidelines and emphasized the strategic significance of these agreements. The company confirmed its compliance with ASX Listing Rules and stated that its response was authorized by its board.
Key Points
4DMedical Limited (4DX) has been asked by the ASX to clarify several recent announcements and their financial materiality.
The company has agreements with Stanford University, the University of Miami, Cleveland Clinic, and UC San Diego Health for the use of its CT:VQâ„¢ technology.
4DX considers these agreements strategically important for validating its technology at leading US institutions.
The company did not provide specific financial details for these agreements, stating that they were not guaranteed to generate minimum revenue.
4DX's responses indicate that their announcements were intended to provide updates on commercialization activities and validate the technology's adoption.
The ASX questioned whether 4DX engaged in 'ramping' by making a series of announcements without financial details before a capital raise.
4DX adheres to a conservative disclosure policy, considering materiality in alignment with ASX Guidance Note 8.
The company confirms compliance with ASX Listing Rules and continuous disclosure obligations.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.