Insights

Why the Painchek (ASX:PCK) share price is charging 13% higher

The PainChek Ltd (ASX: PCK) share price is soaring today after the app developer received TGA approval for its latest development.
The post Why the Painchek (ASX:PCK) share price is charging 13% higher appeared first on The Motley Fool Australia. –

healthcare asx share price rise represented by happy doctor

The PainChek Ltd (ASX: PCK) share price is soaring today after the company announced it has received approvals for its latest pain monitoring app update.

At the time of writing, the mobile medical app developer’s shares are up 13% to 7.8 cents per share.

What did Painchek announce?

The Painchek share price is moving after it provided an update this morning noting the company had received CE Mark and Therapeutic Goods Administration (TGA) clearance for its expanded Universal Pain Assessment Solution, or ‘Universal’ application.

According to the release, these clearances will allow the app to be marketed and sold across Europe, the UK, Australia, Canada, Singapore, and New Zealand.

The new ‘Universal’ Painchek app builds upon the company’s existing pain monitoring technology to now allow all patients to be assessed. Previously the app was specifically for people with dementia.

With the latest approval, the company’s market will substantially broaden. The total market for pain monitoring is far larger than the niche market solely serving people with dementia.

What the Universal app adds

Painchek’s Universal app implements the widely established self-reporting standard known as the numeric rating scale (NRS). The company’s existing technology caters to carers for assessing and managing pain levels for patients who cannot verbalise it. However, with the addition of NSR, carers will now also be able to better support those who can self-report.

Painchek CEO Philip Daffas commented on the approval:

Historically, PainChek and NRS have been separate pain assessment processes in terms of function and documentation, as we initially developed PainChek to be used in situations where patients could not reliably verbalise their pain.

We have now improved the process by incorporating the NRS into the PainChek app, combining the benefits of the two pain scales into one universal pain assessment and management solution.

The initial rollout of the Universal app is slated for Australia and the United Kingdom from April. After which, it will continue to be distributed to mainland Europe and other international markets.

Painchek share price checkup

Considering the 52-week range on the Painchek share price, it has been a wild year for Painchek shareholders. Before today, the share had been floating around its 52-week low of 6.2 cents. Whereas, in May last year, the share price hit a high of 18 cents. 

Despite the increased volatility, the shares have returned a meagre 4% to holders over the past 12 months. For comparison, the S&P/ASX 200 Index (ASX: XJO) has notched up a 28% gain before dividends. 

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Painchek (ASX:PCK) share price is charging 13% higher appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!