Echo IQ (ASX:EIQ) said that it is working collaboratively with reimbursement advisers and other key stakeholders to resubmit its application for a category III current procedural technology (CPT) code for EchoSolv AS in the US for the next CPT editorial panel cycle, according to a Wednesday Australian bourse filing.
The firm's application for a category III CPT code was deemed unsuccessful at the most recent CPT editorial panel meeting, the filing said. It is engaging with the American Medical Association regarding the rationale for this decision.
The company said it will incorporate the feedback and guidance provided by the association into its revised application. It will resubmit before the next deadline of June 11, allowing it to present its application in September.
The active use of EchoSolv AS across existing sites in the US will not be interrupted due to this development, the filing noted.
Echo IQ's shares jumped nearly 13% in recent trading on Wednesday.
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