SYDNEY, May 18, 2026, 07:06 AEST
4DMedical Ltd will look to hold its rebound when trading opens Monday in Australia. The lung-imaging company finished at A$4.17 on Friday, gaining 8.88%. Volume reached around 13.6 million shares. Friday’s close marked a two-day recovery, but the stock is still down from its April highs.
Why now: The ASX cash market is in pre-open in Sydney, and trading is expected to open as usual just before 10 a.m. local. ASX hasn’t listed May 18 among its 2026 cash-market holidays, so 4DX will trade like any regular Monday.
4DMedical is now in the S&P/ASX 200, and the stock isn’t just a small-cap play anymore. The company joined the main Australian benchmark before trade on April 20. 4DMedical called the S&P/ASX 200 a marker for the country’s top 200 companies by market cap, adding that the move may boost visibility with passive and index-tracking funds.
4DMedical showed up late Friday on the ASX’s previous-business-day announcements, with a 3:46 p.m. application for quotation of securities. The market had the stock up at A$4.17 at the close. There was no fresh contract or earnings news.
4DMedical shares climbed 8.88% on May 15, bucking the local trend as the S&P/ASX 200 ended down 0.11%, ASX data showed.
4DMedical is a Melbourne company that sells respiratory imaging technology. Its XV Technology takes X-ray image sequences and produces four-dimensional quantitative data, aiming to make regular imaging into measurable lung function data.
CT:VQ stays in the spotlight for the market. 4DMedical touts its CT-based ventilation-perfusion software as a way to map airflow and blood flow in the lungs, without using radiotracers or contrast agents. The company says that makes it easier for hospitals to use CT:VQ with their current CT setups.
4DMedical’s latest operating move came April 20, when it said it had landed a one-year deal with GlaxoSmithKline to deliver lung imaging analytics supporting drug development in pulmonary care. The company said its CT:VQ device earned UK clinical certification, after gaining European certification the month before. The GSK contract value wasn’t disclosed and is “not individually material.” Capital Brief
Chief Executive Andreas Fouras said then, “Our engagement with GSK demonstrates the growing importance of 4DMedical’s quantitative imaging analytics in pharmaceutical development.” He said biopharma companies are looking for more sensitive endpoints in respiratory drug studies. Capital Brief
4DMedical’s March-quarter numbers are out. Investors saw a pro forma cash balance of A$282.7 million as of March 31. The company listed 477 global SaaS sites and 86,200 scans for the quarter, which is up 79% from the same period a year ago.
Fouras said in the quarterly update that more than 1,300 scans are being delivered per day, adding the “sales pipeline is bursting with opportunity.” The filing listed A$5.0 million in operating revenue for the first nine months of FY26, with net operating cash outflows of A$10.2 million in the March quarter.
4DMedical sits near Pro Medicus in the healthcare tech space, according to market-data firm Intelligent Investor. In its latest quarterly cash-flow update, 4DMedical reported taking a A$10 million secured investment from Pro Medicus. The notes mature July 2027 and carry 12.5% interest.
But there are still clear risks. The GSK contract wasn’t material on its own, shares have been volatile, and the company keeps burning cash as it works to turn reference sites, evaluations, and regulatory clearance into steady revenue. New quotation-of-securities notices also put dilution on the table for investors.
ASX 200 investors will track if last Friday’s A$3.78-A$4.24 band forms a foundation this week or just another short-lived rally. The more important test is whether the newcomer can turn hospital and pharma optimism into actual revenue to support its move higher.
