Highlights

  • 4DMedical announced publication of a peer-reviewed CT:VQ study in the American Journal of Respiratory and Critical Care Medicine.
  • The study indicated CT:VQ-guided patient selection could improve lung Volume reduction surgery response rates to 76% from 48%.
  • Findings support the use of functional lung imaging derived from existing non-contrast CT scans.
  • Research was presented at the ATS International Conference 2026 in Orlando.
  • 4DMedical will host a webinar on 21 May featuring Duke University’s Dr Joseph Mammarappallil.
  • Shares of 4DMedical remained up more than 1,239% over the past year despite trading lower during the afternoon session on 19 May 2026.

4DMedical Limited (ASX:4DX) has announced a new clinical milestone for its CT:VQ platform following the publication of a peer-reviewed study in the American Journal of Respiratory and Critical Care Medicine (AJRCCM), widely regarded as one of the leading journals in respiratory medicine globally. The publication and accompanying presentation at the ATS International Conference 2026 in Orlando highlight the potential role of the company’s imaging technology in improving patient selection for lung volume reduction surgery (LVRS).

During the afternoon session on 19 May 2026, shares of 4DMedical traded at AUD 3.75, down 6.25% for the day. Despite the pullback, the stock has remained up approximately 1,239.29% over the past year, reflecting sustained investor attention toward the company’s respiratory imaging platform and commercial progress across the healthcare sector.

About 4DMedical and Its Respiratory Imaging Platform

4DMedical is a medical technology company focused on respiratory imaging and artificial intelligence-based lung analysis. The company’s proprietary XV Technology converts standard imaging scans into functional lung data designed to assist clinicians in identifying and monitoring respiratory disease with greater precision.

Its software portfolio includes FDA-cleared XV Lung Ventilation Analysis Software (XV LVAS), CT LVAS, and CT:VQ, which combines ventilation and perfusion analysis using existing CT scans. The company delivers its solutions through a Software-as-a-Service (SaaS) model designed to integrate into existing hospital systems and workflows.

Following its Acquisition of Imbio in 2023, 4DMedical also expanded its AI-driven imaging capabilities, strengthening its position within the broader respiratory diagnostics and imaging market.

Study Examined CT-Based Functional Imaging in Lung Surgery Planning

The latest publication evaluated how quantitative CT-derived imaging metrics, including CT:VQ, could improve patient selection for lung volume reduction surgery in patients suffering from severe emphysema.

According to the company, the study analysed pre-operative inspiratory and expiratory CT scans from patients undergoing bilateral LVRS. Researchers combined anatomical emphysema data with functional perfusion information derived from CT-based imaging techniques.

The study concluded that integrating functional imaging data with conventional anatomical CT information could materially improve surgical selection outcomes. Specifically, the publication reported that CT:VQ-guided selection could increase successful patient response rates to 76%, compared with approximately 48% under existing selection approaches.

The findings are considered relevant because patient outcomes in LVRS procedures are closely linked to underlying lung physiology, regional perfusion characteristics and emphysema distribution. More accurate identification of suitable surgical candidates may assist clinicians in reducing lower-value procedures while improving post-operative outcomes.

Why the Publication Matters for CT:VQ

The AJRCCM publication represents an important clinical validation point for 4DMedical’s imaging technology. While the study evaluated XV technology, the company stated that the findings directly support the value proposition behind CT:VQ, which generates functional ventilation and perfusion information from standard non-contrast chest CT scans.

Importantly, the platform does not require additional imaging procedures, contrast agents or radioisotopes. Instead, CT:VQ is designed to extract additional functional information from scans already captured during routine clinical workflows.

According to 4DMedical, this capability may allow healthcare providers to assess lung function earlier within the patient pathway while potentially reducing reliance on separate perfusion imaging studies.

The company also highlighted that CT:VQ can analyse historical CT scans, which may provide clinicians with additional flexibility during patient assessment and treatment planning discussions.

ATS Conference Presentation Expands Visibility

The research publication coincides with the ATS International Conference 2026 currently being held in Orlando, Florida. The ATS Congress is regarded as one of the largest global meetings focused on pulmonary and respiratory medicine.

4DMedical noted that the conference serves as a key platform for presenting emerging research and clinical developments related to emphysema treatment, lung imaging and respiratory care pathways.

The company stated that the growing focus on combining anatomical and functional lung assessment aligns with broader industry interest in precision-based respiratory medicine. By presenting the research at ATS 2026, 4DMedical appears to be positioning CT:VQ within ongoing discussions around improving surgical planning and emphysema management.

Management also indicated that interest surrounding CT:VQ at the conference reflects continued progress across both clinical and commercial fronts.

Potential Hospital and Economic Implications

Beyond clinical outcomes, the company placed considerable emphasis on the economic implications associated with improved LVRS patient selection.

Lung volume reduction surgery is generally performed at advanced medical centres and represents a high-complexity inpatient procedure. According to 4DMedical, hospital Economics linked to LVRS programs are highly dependent on selecting patients most likely to benefit from surgery.

Variability in treatment response can contribute to extended hospital stays, complications and increased costs. The company stated that functional CT-based imaging may help reduce unnecessary invasive assessments while improving utilisation of specialised surgical infrastructure.

4DMedical also noted that better candidate identification could support procedural efficiency and improve contribution margins across specialised respiratory service lines.

As hospitals continue focusing on operational efficiency and program-level profitability, the company believes precision-based imaging may become increasingly relevant within advanced emphysema treatment pathways.

Webinar Scheduled for 21 May

4DMedical plans to host a live webinar at 10:30am (AEST) on Thursday, 21 May 2026, following the publication and ATS presentation.

The webinar will feature Dr Joseph Mammarappallil, Associate Professor of Radiology at Duke University School of Medicine, who is expected to discuss the clinical use of CT:VQ. The session will also include participation from 4DMedical Founder and CEO Andreas Fouras and will be moderated by Bell Potter Senior Analyst John Hester.

The company stated that the webinar is intended to provide further insights into the clinical relevance and workflow integration potential of CT:VQ within respiratory care.

Management Commentary Focuses on Clinical and Commercial Progress

4DMedical Founder and CEO Andreas Fouras described the publication and ATS presentation as an important milestone for the company and its broader respiratory imaging platform.

Management stated that the research reflects years of collaboration between clinicians, engineers and commercial teams aimed at improving respiratory care through functional imaging technologies.

The company also emphasised that the findings support CT:VQ’s ability to provide non-invasive ventilation and perfusion analysis capable of assisting clinical decision-making.

In addition, management highlighted the potential operational benefits for healthcare providers, particularly around earlier patient identification, procedural efficiency and resource allocation within specialised thoracic surgery programs.

What This Means for Investors

The latest update from 4DMedical appears favourable as it adds peer-reviewed clinical support for the company’s CT:VQ imaging platform and its potential role in lung surgery planning.

Publication in a globally recognised respiratory medicine journal, alongside presentation at the ATS International Conference, may help strengthen clinical credibility and industry visibility for the technology.

The reported improvement in LVRS response rates from 48% to 76% also highlights the possible value of combining functional and anatomical imaging in emphysema management.

Investors are likely to continue monitoring how these clinical developments translate into broader commercial adoption, hospital integration opportunities and expansion across respiratory care pathways.