4DMedical Ltd's shares plummeted 11.38% intraday on Friday, a significant move that followed the company's announcement of receiving Therapeutic Goods Administration (TGA) approval for its CT:VQ imaging software in Australia.

The technology, which derives regional ventilation and perfusion information from standard non-contrast CT scans without injections or contrast agents, received approval and inclusion on the Australian Register of Therapeutic Goods, enabling commercial use across the country. The company stated that CT:VQ is well-positioned for scalable adoption in both urban and regional healthcare settings.

Despite this regulatory milestone, which is typically viewed positively for medical technology companies, the stock experienced heavy selling pressure. The company noted that it will now seek Medicare reimbursement through the Medical Services Advisory Committee, backed by clinical and health-economic evidence.