RE:can anyone explain to me why health canada approved improved It's more than an approval, there is a significant new component to the technology that can now be sold and marketed. It's also a number of things coming together.
On average their trading range was about 17 or 18 cents for most of the last year. So, they are presently trading about 2.5 times where they were, not 9 times. Of course, 9 times would be nice...
Under prior approvals, it was primarily for specialized use on young children because it examined measured the morphology of the right ventricle of a heart. That limited the application to specialized pediatic applications and there are relatively few specialized facilities/practitioners to sell to.
With the new version of the technology and the new Health Canada approval, the technology examines the entire heart and can be used for many more clinical applications. Where it was a piece of tech that was very specialized before, now it becomes a valuable piece of equipment in any cardiac care facility. So, the market in Canada got much bigger (thousands of facilities versus a few specialized pediatric cardiology applications). It can also piggy-back on existing ultrasound systems which many facilities already have. Bottom line .... much bigger market and lots of potential for a takeout by existing Ultrasound companies.
They also got some more funding and exposure. Funding was an issue before, because they had just been through the very challenging and expensive process of getting FDA approval.