RE:Up around 10% today - any idea why?With the benefit of hindsight it seems likely that the 10% rise in share price of which you speak, and further spike over the following month and a half might be related to the announcement that came 3 business days earlier:
"Profound Medical Announces Category 1 CPT Codes Proposed CY2025 Rule for TULSA to Treat Prostate Diseases"
Current Procedural Terminology (CPT®) codes are the eight hundred pound gorilla in the room where this stock is concerned. The new CPT codes come into effect January 1, 2025.
The share price run up following the July 11, 2024 announcement didn't hold. It related to CPT codes that had been expected for a long time and at that point were still almost 6 months away from taking effect. Now we are less than 2 and a half months away.