Feedback PLC (LON:FDBK) shares surged on Friday after StoneChecker Software, a product of IQ-AI Limited (LON:IQAI) subsidiary Imaging Biometrics, received regulatory clearance by the US Food and Drug Administration (FDA).
READ: IQ-AI soars as StoneChecker software gets US FDA sign-off
StoneChecker, which is used to assess kidney stones, is a licensee of Feedback’s TexRAD software, however, the medical imaging firm it was currently not able to evaluate the level of income it would accrue as a result of the FDA clearance.
That didn’t stop the excitement from investors, as the shares jumped 16.3% to 1.3p in late-afternoon trading.