Hi, do you know anything about Artrya Ltd (AYA)?
Hi, do you know anything about Artrya Ltd (AYA)?
The Latest Q&A
Answer
Hi Alan,
Thanks for bringing this interesting business to the MM report, it’s been a huge performer in recent months surging 6x outstripping many “hot” sectors. For subscribers not familiar with AYA it’s a $460mn medical‐technology / AI healthcare company-based in WA. Its main product is Salix, a suite of AI‑powered software that analyses coronary CT angiography (CCTA) scans to detect coronary artery disease, especially vulnerable plaque, helping clinicians assess risk of heart attack more quickly and accurately.
They are commercialising Salix in Australia and expanding into the US with recent regulatory progress (e.g. FDA clearance steps) and having raised $80mn at $2.05 to support the exciting growth steps into the US – buyers are already up 50%! The question now pivots around value and prospects of executing on their ambitious plans:
- The company has over $80mn in the bank having raised cash last month but the company generates no revenue as of yet and in FY25 it lost over $16mn.
The AI-diagnostics space is exciting, and we believe it will produce some big winners. We only have to cast our minds to the phenomenal ASX success Pro Medicus (PME) which has evolved into a $30bn goliath. In broad strokes, Artrya is a younger, more niche version of what Pro Medicus has become with both businesses in the healthcare/medical imaging / diagnostic software space and use technology / AI to assist clinicians.
The key is execution of their push into the US and the share price, including successful capital raise, tells us the people in the know are confident. With founders John Barrington and John Konstantopoulos still owning ~10% of the business we like AYA as an emerging company into the AI healthcare space.
