Shares in Resonance Health have been placed in a trading halt pending an announcement about a "corporate transaction".
The biotech company, which is in the process of $5.1 million capital raising, yesterday announced it had secured approval from the Therapeutic Goods Administration to list its HepaFat-Scan liver software device on the Australian Register of Therapeutic Goods (ARTG).
In December, the company secured the approval of the US Food and Drug Administration to market the HepaFat device in the United States.
HepaFat-Scan is a software medical device that enables the non-invasive measurement of fatty liver using magnetic resonance imaging (MRI).
The company’s other product, FerriScan, provides an estimate of liver iron concentration, critical in the management of patients with potentially-fatal iron overload.
Resonance expects to make an announcement before the open of trade on Tuesday.
Shares in the company were off 0.3 cents, or 5.46 per cent, to 5.2 cents before the trading halt was called.