Echo IQ (ASX:EIQ) said it held AU$5.4 million in cash and cash equivalents at the end of the December 2024 quarter, according to a Thursday Australian bourse filing.
The firm expects to receive AU$1.2 million as part of a research and development tax rebate in the March quarter.
During the March quarter, it expects to convert its pipeline of large US hospital groups, device manufacturers, and pharmaceutical companies to increase integration and uptake of its heart disorder testing tool, EchoSolv AS.
The company also plans to finalize agreements with a US-based trial partner for a proposed validation study for its heart failure screening tool EchoSolv HF, the filing said. It will start the study after design approval from the US Food and Drug Administration ahead of formal submission for clearance.
Echo IQ's shares fell almost 4% in recent trading on Thursday.
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