ResApp Health (RAP.AX) - Not at its peak after a 1500% rise over the past 9 months

ResApp is a small Australian company developing an exciting iPhone App to detect respiratory disease.
This App aims to compete against today's respiratory disease diagnostic tools such as the stethoscope, imaging (x-ray/CT scan), blood and or sputum test.

I ran a Times Revenue Multiple valuation model for this stock using their research data and got a share price target of  $0.85 - $0.66. This presents an attractive over 150% upside from today's price.

Clinical results to date suggest this App has a very high chance of winning FDA approval. This App was able to correctly detect lower respiratory tract involvement in 97% of cases initially missed by experienced clinicians using a stethoscope. The App was also able to differentiate between viral and bacterial pneumonia with around 90% accuracy.

MD take-up of this new diagnostic tool will likely be modest since doctors have used the stethoscope for a very long time. However the uptake in the telehealth market will likely be very high. For my modeling I have given 10% market penetration by MDs and 80% by telehealth markets. 
Coming catalysts include an imminent telehealth partnership announcement, an initiation this quarter of a pivotal clinical study, and a FDA decision in Q4'16.
The risks with this investment include the potential for a similar App competitor to emerge.

Below are information slides from ResApp's last investor presentation:

This is ResApp's 12-month share price chart -

This investment should only be considered by risk adverse investors. Considering the already staggering share price increase large price retractions are possible.
My pricing model says there is still significant upside potential here.


Disclosure - I have no position in this stock but may initiate a long position in the coming weeks