Cyclopharm (ASX: $CYC) receives pass-through status for Technegas

Cyclopharm (ASX: $CYC) has achieved a significant milestone as it announced the receipt of Pass-Through status from the Centre for Medicare and Medicade Services (CMS) from July 1, 2024. This status will ensure full reimbursement for Technegas, the company's core radiopharmaceutical product used in functional lung ventilation imaging.

Cyclopharm CEO James McBrayer on CMS decision

Cyclopharm CEO James McBrayer expressed his delight at the positive notification from CMS, stating, 'We are delighted to receive this earlier than expected positive notification from CMS which, now that the financial impost has been removed, is expected to accelerate the rollout for Technegas in the US.' He also highlighted the company's upcoming presence at the first major US Society of Nuclear Medicine and Molecular Imaging (SNMMI) conference, where they plan to share this important reimbursement news with key clinical constituents.

Summary of Cyclopharm's CMS decision and outlook

Cyclopharm's achievement of Pass-Through status from CMS marks a significant milestone, ensuring full reimbursement for Technegas in the US from July 1, 2024. This decision is expected to streamline the reimbursement process and improve the financial outcome for clinical sites using Technegas. CEO James McBrayer's positive outlook on the accelerated rollout for Technegas in the US indicates the company's ambitions for expansion and growth in the US market. The upcoming presence at the US Society of Nuclear Medicine and Molecular Imaging (SNMMI) conference further demonstrates Cyclopharm's commitment to sharing the important reimbursement news and engaging with key clinical constituents, reflecting the company's dedication to improving patient care outcomes through its core radiopharmaceutical product, Technegas.