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Feedback surges as TexRAD licensee StoneChecker receives green light from FDA

The medical imaging firm said it believed the StoneChecker software, now approved for sale in the US market, was using its TexRAD software

Feedback PLC - Feedback surges as TexRAD licensee StoneChecker receives green light from FDA
StoneChecker is used to assess kidney stones

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.

Quick facts: Feedback PLC

Price: 0.81 GBX

Market: LSE
Market Cap: £4.37 m

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