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The Creso Pharma Ltd (ASX: CPH) share price has climbed well into the green in early trade today.

Cresco Pharma shares are now exchanging hands at 11.75 cents apiece, an almost 7% gain from the open.

What is Creso Pharma?

Creso Pharma develops and commercialises pharmaceutical cannabis and psychedelic compounds to treat health and medical conditions.

The company has a wide footprint across Switzerland, Australia, Canada, Colombia and Israel, but realises most revenue from Europe and the Middle East.

Creso Pharma has a market capitalisation of $131 million at the time of writing.

What’s behind today’s gains?

Creso provided an update on “operational progress” achieved through its Canadian subsidiary, Halucenex Life Sciences.

Halucenex is a research company focused on developing novel psychedelic compounds. These products are then sold to the pharmaceutical markets.

Creso announced that Halucenex has completed all satisfactory requirements for USP 61 microbial enumeration testing.

This is a significant milestone that demonstrates Creso’s psilocybin compound is of pharmaceutical grade and safe from microbial nasties.

Furthermore, the company announced it had “commenced USP 62 protocols”.

That is a similar test that examines pharmaceutical products for the presence of additional pathogens and other microbes.

It is an essential phase of any route to market in the pharmaceutical industry because the product must be deemed fit for humans.

Creso seems confident the test will “deem the company’s products safe for human consumption” if successful.

What else does this mean?

Moreover, if successful, it will progress Halucenex’s clinical trial authorisation (CTA) with Health Canada, helping to move forward its clinical trial pipeline.

Receiving the CTA allows the company to commence its phase II efficacy trial investigating the use of psilocybin in the treatment of post-traumatic stress disorder (PTSD).

Creso estimates the PTSD therapeutics market is worth “upwards of US$10.5 billion by 2025” and the company intends to “grow its market share across the sector” in the coming periods.

Market sentiment around clinical trial progress is a major force that drives share price returns in biotech and biopharma companies. That means good news is reflected on the charts for these shares.

In addition, Creso also released its quarterly update on Monday which shot its share price 9% higher on the day.

It stands to reason these two factors are behind the movement in the Creso Pharma share price today.

Creso Pharma share price snapshot

The Creso Pharma share price has posted a loss of 35% since January 1 this year. Over the last month, Creso shares have dipped 13% into the red.

Despite this, Creso shares have still climbed 279% into the green over the past 12 months.

This has outpaced the S&P/ASX 200 Index (ASX: XJO)’s return of around 26% over the past year.

The post Here’s why the Creso Pharma (ASX:CPH) share price is up 7% appeared first on The Motley Fool Australia.

More reading

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• Blazing it? How the top ASX cannabis shares performed in FY21

Contributor Zach Bristow has no position on any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Raiz Invest Ltd (ASX: RZI) share price has stormed more than 8% in morning trade.

At the time of writing, shares in the company have backtracked a little to be up 6.11%.

Investors have flocked to buy shares in the fintech company after Raiz released an update earlier this morning.

Here’s what Raiz had to announce.

Raiz share price higher on performance metrics

The Raiz share price is well in the green today, after releasing its performance metrics for July.

Raiz noted that numbers from its recent acquisition of Superstate were included in its key metrics for the first time.

As a result, the company highlighted that Superestate added $71.6 million to superannuation funds under management (FUM) for a 69.8% increase to $181.00m million. In addition, the acquisition managed to add and an extra 6,073 active customers to the Raiz platform.

Overall, Raiz highlighted continued growth in funds under management (FUM) in Australia.

For July, the company recorded a 4.4% increase in total retail FUM to $ $904.82 million.

In addition, Raiz noted a 69.8% increase in superannuation contributions in July.

In the update, Raiz Managing Director and CEO George Lucas noted that; “Superestate’s contribution aside, we were on target to hit our $1 billion FUM by the end of this calendar year”.

The company’s management also noted that operations in southeast Asia remain on track, reporting a 9.9% increase in active customers to 129,574.

More on the Raiz share price

Raiz is an Australian financial technology (fintech) company that provides users with a mobile-focused micro-investing platform.

Raiz charges users a flat monthly investment fee which comprises more than 60% of the company’s revenue. As a result, FUM and active customers are key metrics to the company’s ability to generate recurring revenue.

Earlier this year, Raiz completed a $10.2 million capital raise. Funds from the placement were used in the $9.5 million acquisition and integration of fund manager Superstate.

Raiz cited that the acquisition of Superstate would allow the fintech’s users access to residential property as an asset class.

Overall, the Raiz share price has performed extraordinarily well in 2021. Including today’s price action, shares in the Aussie fintech have doubled since the start of the year.

At the time of writing, the Raiz share price is trading more than 5% higher for the day. Shares in Raiz stormed more than 8% earlier, after hitting an intraday high of $1.95 earlier.

The post Here’s why the Raiz (ASX:RZI) share price is storming 8% higher today appeared first on The Motley Fool Australia.

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• Up 9% to a 3-month high, the Raiz (ASX:RZI) share price is surging. Here’s why.

Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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• The Kalium Lakes Ltd (ASX: KLL) share price can’t decide which way to go in morning trade today. At the time of writing, it’s up and down between its price of 23.5 cents at yesterday’s close and a 2% gain to 24 cents apiece.

Below we take a look at the latest update from the ASX resource share.

What did Kalium report?

The Kalium lakes share price is seeking direction today after the company provided a commissioning update on its Beyondie SOP Project in Western Australia.

According to the release, Kalium has pumped mor than 113,000 tonnes of contained SOP (sulphate of potash) as at end July 2021. It also has 90,000 tonnes of potassium salts stockpiled, which corresponds to some 9,000 tonnes of SOP production.

With harvesting operations running uninterrupted and on track, Kalium expects first production of SOP in late September.

The ASX resource share also reported that costs to complete construction and commissioning activities are within its capital expenditure budget.

Commenting on the progress, Kalium CEO Rudolph van Niekerk said:

Having installed a robust network of brine supply and evaporation ponds, we continue to reap the bounty of large volumes of potassium salts above the plant feed cut-off grade, which are harvested and delivered to the ROM pad. With this ample supply of potassium salts, we have expanded our stockpile area and will soon be ready to move from commissioning to production.

Kalium reported that the potassium salt – including what’s already been harvested and what’s ready for harvest – accounts for around 6 months of SOP production during the ramp-up period.

Niekerk added, “We are entering the final phase of the project and, with several areas of the plant ready for water commissioning, there are only a couple of months to go before commencement of SOP production.”

Kalium Lakes share price snapshot

Over the past 12 months, the Kalium Lakes share price has gained 68%, well outpacing the 26% gains posted by the All Ordinaries Index (ASX: XAO).

Year-to-date, Kalium Lakes shares have continued to outperform the benchmark, up 18% in 2021.

The post What’s happening with the Kalium Lakes (ASX:KLL) share price? appeared first on The Motley Fool Australia.

More reading

• Here’s why the Creso Pharma (ASX:CPH) share price is up 7%
• Here’s why the Raiz (ASX:RZI) share price is storming 8% higher today
• ASX travel share Serko Ltd (ASX:SKO) higher on COVID business update
• GUD Holdings (ASX:GUD) share price down 2% following FY 2021 results
• Own REA (ASX:REA) shares? What to look out for this reporting season

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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ASX travel share Serko Ltd (ASX: SKO) is edging higher in morning trade, up 1.2% to $6.75 per share.

Serko focuses on the provision of online travel booking and expense management technology.

Below we take a look at the company’s latest business update.

What update did Serko report?

Like most every ASX travel share, Serko’s business model is facing hefty headwinds. This comes as the Delta variant of COVID-19 has sent much of New South Wales into an extended lockdown. And now other states, including Queensland, are impacted as well.

However, Serko’s share price has held up well and is gaining in intraday trade today.

This morning Serko released an update on its current trading conditions and Booking.com for Business platform migration. It noted that trading conditions remain volatile with continued pandemic-related travel restrictions.

The ASX travel share reported that its New Zealand travel bookings are still strong. However, its Australia travel bookings are well down.

June bookings in New Zealand were at 166% of the June 2019 levels (prior to the onset of COVID). While July figures came in at 137% of the July 2019 levels.

Australian numbers went the other way. Domestic booking fell to 56% of 2019 levels in June and 35% of the volumes for July.

Commentary from management

Commenting on the update, Serko CEO Darrin Grafton said:

We planned for further lockdowns to occur in our core markets during the current financial year as vaccination programs progressively roll out. We have factored these disruptions into our capital management plans.

As such, we continue to target an average monthly cash burn of between $2 million and $4 million despite the persistent Australian lockdowns. We remain optimistic that Australasian travel bookings will revert to the levels seen at their peak in April 2021 once the travel restrictions in Australia lift, based on previous recovery trends.

Serko also reported solid progress with the migration of companies to its new Zeno powered Booking.com for Business platform. It said there are now more than 150,000 existing businesses activated on the platform.

The ASX travel share said the migration phase is being extended by two months beyond the original end date of 31 July.

Looking ahead, Grafton commented:

Following completion of the migration we will move into an engagement phase. This will be timed with an expected return to travel by businesses following the European summer break and supported by the widespread global vaccination programs.

In line with expectations, the majority of revenue to be generated in FY22 from the new Zeno powered Booking.com for Business platform will be back-ended to the second half of the financial year.

How has this ASX travel share been performing?

Unlike most ASX travel shares, Serko’s share price is now well above where it was trading before the onset of the pandemic. Shares are up around 46% from 21 February 2020.

Over the past 12 months Serko’s share price has gained 123%, compared to a gain of 26% on the All Ordinaries Index (ASX: XAO).

Year to date the ASX travel share has continued to outperform the benchmark, up 25%.

The post ASX travel share Serko Ltd (ASX:SKO) higher on COVID business update appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Serko Ltd. The Motley Fool Australia has recommended Serko Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 

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The GUD Holdings Limited (ASX: GUD) share price is under pressure on Wednesday following the release of its full year results for FY 2021.

In morning trade, the diversified products company’s shares are down over 2% to $11.84.

GUD share price down despite beating guidance in FY 2021

• Revenue jumped 27.2% to $557 million
• Organic revenue increased 15.2% to $504.4 million
• Underlying earnings before interest and tax (EBIT) up 24.8% to $101.2 million versus $98-$100 million guidance.
• Underlying net profit after tax rose 32.7% to $64 million.
• Earnings per share up 33% to 67 cents.
• Fully franked final dividend of 32 cents, lifting full year dividend by 54.1% to 57 cents.

What happened in FY 2021 for GUD?

The GUD share price is trading lower today despite the company delivering an underlying EBIT result slightly ahead of its guidance of $98 million to $100 million.

This strong result was driven predominantly by its Automotive business, which reported a 34.1% increase in revenue. This was underpinned by an 18.2% increase in organic growth and the benefits of acquisitions.

GUD’s Water business delivered growth despite operating in a very challenging environment. It reported a 5.8% increase in revenue for the 12 months.

What did management say?

GUD’s Managing Director, Graeme Whickman, was pleased with the way the company navigated a number of challenges in FY 2021.

He commented: “The financial year has been very demanding but ultimately pleasing. We navigated well through a broad range of COVID‐19 related challenges. The COVID‐ 19 ‘defence and offence’ strategy has played out as expected and our willingness to run far higher inventory levels has served the Group well.”

“Our COVID‐19 employee support programs contributed to achieving record levels of employee engagement in a year where our people have also risen to the challenge of supporting the strong revenue growth. The commitment and application of the GUD team cannot be under‐estimated, and I wish to acknowledge their contribution,” he added.

What’s next for GUD?

The reason the GUD share price isn’t rising today is likely to be its outlook for FY 2022.

Although management spoke very positively about demand in the automotive aftermarket sector, it warned of some near term challenges.

Mr Whickman said: “Short term challenges remain. Volatile trading conditions returned in July and have continued into August 2021. Looking through the lockdowns, and as we cycle a record sales performance in the prior year, our expectation is that automotive organic growth will moderate and normalise over time.”

“We anticipate that a mix of organic growth, the full year contribution for the acquired business, and focused margin management will be the key profit growth drivers in FY22 although volume growth may continue to be impacted by COVID‐19 lock‐downs and mobility restrictions,” he added.

In light of this uncertainty, GUD advised that it was unable to provide guidance at this stage. Instead, it hopes to be in a position to do so at its annual general meeting in October.

Following today’s decline, the GUD share price is now up just over 1.5% since the start of the year.

The post GUD Holdings (ASX:GUD) share price down 2% following FY 2021 results appeared first on The Motley Fool Australia.

More reading

• ASX travel share Serko Ltd (ASX:SKO) higher on COVID business update
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The REA Group Ltd (ASX: REA) share price has held up surprisingly well in light of recent lockdowns across Australia.

The global real estate digital advertising company is expected to deliver its full-year FY21 results on Friday, 6 August.

With a potential catalyst for the REA share price right around the corner this reporting season, here’s what investors might want to keep an eye out for.

A strong fourth quarter finish

In REA’s third-quarter update on 7 May, the company said that the residential property market was gathering momentum with “increased levels of buyer enquiry underpinned by low interest rates, improving consumer confidence and healthy bank liquidity”.

The update highlighted that national residential listings were up 98% year-on-year, driven by a 127% increase in Melbourne and a 116% increase in Sydney.

REA Group Chief Executive Officer Owen Wilson commented on the strong rebound saying, “This momentum, combined with strategic investments made throughout FY21, positions REA for a strong finish to the year.”

While the third-quarter update only witnessed a 0.5% increase for the REA share price on the day of the announcement, the company’s shares would steadily grind higher to a record high of $173.11 by 18 June.

Can REA connect the dots?

With the Australian property market continuing to go from strength to strength, the question is whether or not the REA share price can take full advantage of the housing boom.

In the RBA’s August monetary policy minutes, it highlighted that “housing markets have continued to strengthen, with prices rising in all major markets. Housing credit growth has picked up, with strong demand from owner-occupiers, including first-home buyers. There has also been increased borrowing by investors.”

Looking at REA’s half-year results, the company noted that its realestate.com.au platform was the “clear number one in online real estate”.

In 1H21, the website achieved 12.3 million visitors each month on average, up 39% year-on-year with a record 13 million visits in November 2020.

From a financial perspective, the company’s third-quarter results for the three months ended 31 March 2021 highlighted a 13% increase in revenue and a 10% increase in earnings before interest, taxes, depreciation, and amortisation (EBITDA) compared to a year ago.

REA share price snapshot

Shares in the online real estate platform edged 4.36% lower in July but still up a relatively healthy 12.19% year-to-date.

At the time of writing, the REA share price is trading 0.43% higher to $166.83 and not far away from its all-time high of $173.11.

The post Own REA (ASX:REA) shares? What to look out for this reporting season appeared first on The Motley Fool Australia.

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Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Flight Centre Travel Group Ltd (ASX: FLT) share price has been caught in turbulence lately.

And it’s no surprise. With shock lockdowns in Brisbane and Southeast Queensland, restrictions coming and going in Victoria and South Australia, and Sydney still battling COVID-19‘s Delta strain, Flight Centre — along with most of the travel sector — is feeling the heat.  

The Flight Centre share price has fallen 5% over the last 30 days. However, its gained 4% since this time last week.

At the time of writing, the travel company’s shares are trading for $15.01 apiece, 0.79% lower than yesterday’s close.

So, let’s take a look at what could be affecting the Flight Centre share price.

Is COVID-19 impacting Flight Centre?

The Flight Centre share price has been on a rollercoaster lately, as have many states battling COVID-19 outbreaks.

The travel agency spent most of last month falling as Sydney, Victoria, and South Australia each locked down at various times. In fact, Flight Centre’s shares fell 7.8% between July 5 and July 27.

Fortunately, Flight Centre spent a few days in the green over the last week amid changes to Australian lockdowns.

Victoria and South Australia successfully contained outbreaks of the virus and regained normalcy on Wednesday last week. However, Southeast Queensland entered a surprise lockdown on Saturday.

The Flight Centre share price has gained 3% since this time last week.

Could this drive Flight Centre forward?

In a much-needed breath of fresh air, the Federal Government released modelling for Australia’s road out of the pandemic and, potentially, into Flight Centre shopfronts, yesterday.

The Government is following Doherty Institute modelling that found the vaccine rollout needs to be shifted to focus on young Australians.

It also found Australia’s on track to have 70% of Australians vaccinated by early November.

When that figure is reached, it expects lockdowns will be less necessary, with Australia able to slow the virus’ spread using restrictions.  

The government had previously outlined a map back to international travel using vaccination rates as the catalyst. However, only a future increase in the number of returning travellers is mentioned within the new modelling.

In less favourable news, Qantas Airways (ASX: QAN) landed a blow on its own share price and, likely, confidence in the travel sector yesterday by standing down 2,500 crew members.

Flight Centre share price snapshot

The Flight Centre share price has been struggling lately, as have many Australian travel bugs.

Right now, Flight Centre shares are swapping hands for 6.5% less than they were at the start of 2021. However, they have gained 49.9% since this time last year.

The company has a market capitalisation of around $3 billion, with approximately 199 million shares outstanding.  

The post The Flight Centre (ASX:FLT) share price has been struggling. Here’s why appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Argosy Minerals Limited (ASX: AGY) share price is in the green during mid-morning trade today.

This follows the lithium miner’s update on its Rincon Lithium Project, located in Salta Province of Argentina.

At the time of writing, Argosy shares are up 3.57% to an intraday high of 14.5 cents. In comparison, the All Ordinaries Index (ASX: XAO) is down 0.1% to 7,750 points.

How is the Rincon project progressing?

Investors are buying Argosy shares after the company reported positive developments at the Rincon site.

In today’s release, Argosy advised that it has secured plant and equipment items for its 2,000tpa lithium carbonate production operation. This includes early-lead items such as electric power generators, generators and piping for brine pumping operations, and site tanks.

Longer-lead items such as boilers, cooler/chiller, process tanks and reactors are all being engineered and fabricated locally in Argentina.

Argosy stated that process plant development operations are progressing on schedule, with site works to increase in the coming months.

Other items like the evaporator/dryer, is being manufactured in Germany, and the filters are being sourced from Asia. The mill which has been already built and delivered came from the United States.

The company is planning for the construction phase to be completed during the first quarter of 2022. Plant commissioning works along with test works and ramp-up is set to follow immediately after.

Argosy managing director, Jerko Zuvela highlighted the company’s achievement, saying:

The Company’s Puna operations team is making major progress, with the plant and equipment procurement on schedule and budget for the 2,000tpa lithium carbonate production operation at Rincon.

We are excited as we continue works to transform Argosy into a battery quality lithium carbonate producer and cashflow generator, and then to further progress the 10,000tpa project development expansion. We look forward to a significant near-term growth phase from the increasing development activity at our Rincon Lithium Project.

About the Argosy share price

Since the beginning of the year, Argosy shares have recorded gains of more than 75% for shareholders. The company’s share price reached a 52-week high of 21.5 cents in January, before treading lower.

Argosy has a market capitalisation of around $175 million, with approximately 1.25 billion shares outstanding.

The post Here’s why the Argosy (ASX:AGY) share price is climbing today appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The BHP Group Ltd (ASX: BHP) share price has been a positive performer on Wednesday.

At the time of writing, the mining giant’s shares are up 2.5% to $54.37.

This leaves the BHP share price trading within touching distance of its record high of $54.55.

Why is the BHP share price pushing higher?

Today’s gain by the BHP share price may have been driven by a rise in the iron ore price overnight.

According to CommSec, the spot iron ore price lifted by 0.4% to US$184.15 a tonne overnight. While this is only a small gain, it is the second day in a row that the price of the steel making ingredient has increased after some sizeable declines late last week.

This appears to have eased investor nerves that a significant correction was coming for the iron ore price.

What else is boosting its shares?

Also giving the BHP share price a lift recently has been speculation that the company is looking to offload its petroleum business.

Analysts at Ord Minnett are positive on the potential move and not just for ESG reasons.

It notes that the petroleum business consumes a disproportionate share of capital expenditure. As such, if it can get a fair valuation, it believes an exit would make strategic sense.

A note out of Morgan Stanley reveals that its analysts feel mixed about the speculation and see both positives and negatives from it.

They commented: “Although we think that a fossil fuel exit could enhance the company’s investment case and ESG credentials, the company’s management has consistently commented on the attractiveness of the O&G business and its willingness to continue to invest in O&G opportunities to improve the division’s returns.”

Is it too late to invest?

The team at Ord Minnett don’t believe it is too late to invest. According to a note, the broker has retained its buy rating and $60.00 price target on its shares.

Based on the current BHP share price, this implies potential upside of 10% over the next 12 months before dividends.

And with Ord Minnett expecting BHP to declare very generous dividends over the next 12 months, the total potential return is predicted to stretch beyond 16%.

The post Why the BHP (ASX:BHP) share price is up 2.5% and nearing a record high appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Imricor Medical Systems Inc (ASX: IMR) share price is starting Wednesday’s trading session with a bang.

This follows the medical device company’s latest announcement that it has further expanded its geographical presence.

At the time of writing, Imricor shares are swapping hands for $1.64, up 5.81%.

What’s driving the Imricor share price higher?

Investors are buying up Imricor shares after the company overcame a key hurdle in entering the Australian market.

According to its release, Imricor advised that its Advantage-MR EP Recorder/Stimulator system has been approved for sale in Australia. This comes as the Australian Therapeutic Goods Administration (TGA) gave the green light for the Advantage-MR system.

The company noted that it hadn’t been expecting approval until sometime towards the end of the current calendar year. As such, the company’s Vision-MR Ablation Catheter is currently being reviewed by the TGA.

Imricor also noted that in New Zealand, all of its products have been approved by Medsafe and are registered in the WAND database for medical devices.

Quick take on the Advantage-MR EP Recorder/Stimulator system

The Advantage-MR EP Recorder/Stimulator system provides the full functionality of an EP recording system and cardiac stimulator within the MRI environment.

The system controls the display and recording of intracardiac electrograms, as well as pacing functions and tip temperature monitoring. When used with a compatible radiofrequency (RF) generator, it can deliver RF energy for ablation procedures.

What did management say?

Imricor chair and CEO, Steve Wedan commented on the company’s achievement, saying:

This is a great milestone in our strategy of geographical expansion. We are working closely with our distributor in the region, Regional Health Care Group, to plan the in-depth training and certification of their staff on our products, procedures, technology, installation, clinical training, and clinical support.

Mr Wedan went on to further talk about the current impact of COVID-19 related restrictions, adding:

While it will still be some time before we see first sales in Australia and New Zealand, we are working through the logistical issues brought about by the current travel restrictions, and we look forward to bringing MRI guided cardiac ablations to patients and physicians in Australia and New Zealand.

The Imricor share price has fallen around 5% in the past 12 months and is down 29% year-to-date.

The post Why the Imricor (ASX:IMR) share price is racing 6% higher today appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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