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Admedus receives price and volume query after shares surge

Shares have increased by around 50% this week after hitting 10.5 cents yesterday.

Admedus Ltd - Admedus receives price and volume query after shares surge
These types of queries from the ASX are not uncommon

Admedus Ltd (ASX:AHZ) received a price and volume query from the ASX yesterday after its shares ran from 7.1 cents to hit a high of 10.5 cents on strong trading volume.

The company confirmed to the ASX that it was not aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities.

Admedus also took the opportunity to confirm that it was complying with the ASX Listing Rules and its obligations to disclose appropriate information to the market.

Completing $36.2 million transaction

In mid-October 2019, Admedus signed a $36.2 million deal to sell its VascuCel® and CardioCel® product range to LeMaitre Vascular Inc. (NASDAQ:LMAT).

Admedus is focused on delivering this transaction during the current quarter.

This is a transformational deal for Admedus and shifts its primary focus to advancing the Transcatheter Aortic Valve Replacement (TAVR) program and other potential products based on its proprietary ADAPT® platform technology.

The TAVR market is s anticipated to grow to $US12 billion within 5 to 6 years.

Proactive caught up with Admedus in London earlier this week.

Quick facts: Admedus Ltd

Price: 0.086 AUD

ASX:AHZ
Market: ASX
Market Cap: $50.81 m
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