ImpediMed's (ASX: IPD) shares soared 40.6% yesterday to close at $0.225, on firm volume of 2.7 million shares.
The value of the company is now over four times higher than when the stock was trading at around $0.05 in May this year.
ImpediMed is focused on the development and distribution of medical devices employing Bioimpedance Spectroscopy (BIS) technologies for use in the non-invasive clinical assessment and monitoring of fluid status.
The company's primary product range consists of a number of medical devices that aid surgeons, oncologists, therapists and radiation oncologists in the clinical assessment of patients for the potential onset of secondary lymphoedema.
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