Cyclopharm (CYC.AX) jumps 10.9% on Chinese medical groups backing Technegas
Shares of Australian radiopharmaceutical company Cyclopharm jumped as much as 10.9% to A$0.510 on Monday, marking their largest intraday percentage gain since September 14. The rise followed the joint publication of a consensus by seven Chinese medical bodies recommending Cyclopharm's Technegas ventilation imaging agent as their preferred radiopharmaceutical for lung ventilation imaging. Technegas is utilized in lung scans to aid in the diagnosis of conditions such as blood clots. Despite the intraday surge, the stock remains down 50.5% year-to-date.
510, their highest level since September 15, after the company said seven Chinese medical bodies jointly published a consensus recommending its Technegas ventilation imaging agent as the preferred radiopharmaceutical for lung ventilation imaging. The stock posted its biggest intraday percentage gain since September 14. Technegas is used in lung scans to help doctors diagnose blood clots and other lung conditions. 5% year-to-date, including session moves.