Perimeter Medical Imaging Ai Inc Stock Price, News & Analysis

Perimeter Medical Imaging AI, Inc. (TSXV: PINK, OTC: PYNKF) reported its financial results for the year ended December 31, 2022, revealing a net loss of $9.9 million, down from $13.3 million in 2021. Operating expenses rose to $16.6 million from $12.9 million, with cash used in operations at $11.9 million. The company successfully completed a private placement generating C$48.7 million and doubled its commercial installed base of the Perimeter S-Series OCT in Q4 2022. All eight clinical trial sites for the B-Series OCT system were activated, with expansion authorized. The company anticipates completion of patient enrollment in its trial by the end of 2023.

Additionally, the company aims to enhance the surgical outcomes during breast conservation surgery through its innovative imaging technology.

Perimeter Medical Imaging AI, Inc. (PYNKF) will announce its financial and operational results for the year ending December 31, 2022, on April 11, 2023, after U.S. market close. The company aims to transform cancer surgery through advanced imaging technology. The conference call is scheduled for the same day at 5 PM ET, featuring CEO Jeremy Sobotta. Investors can join via a dial-in number or a webcast. The Perimeter S-Series OCT system is FDA-cleared for real-time visualization of excised tissues, while the B-Series OCT is undergoing pivotal trials with funding support of up to $7.4 million from the Cancer Prevention and Research Institute of Texas.

Perimeter Medical Imaging AI has published a new white paper on the efficacy of its Perimeter S-Series OCT technology in breast conserving surgeries for ductal carcinoma in situ. The paper, authored by Dr. Amelia Tower, outlines three case studies where the technology enabled real-time margin visualization, allowing for intraoperative decisions that eliminated the need for additional surgeries. CEO Jeremy Sobotta highlighted the technology's potential to improve patient outcomes and reduce healthcare costs. The white paper was also presented at the SSO 2023 International Conference, showcasing Perimeter's commitment to advancing cancer surgery through innovative imaging tools.

Perimeter Medical Imaging AI, Inc. (TSXV: PINK, OTC: PYNKF) announced its participation in the Society of Surgical Oncology's International Conference on Surgical Cancer Care (SSO 2023) from March 22-25, 2023, in Boston, MA. The company will feature its S-Series OCT device during a spotlight presentation and demonstrations. This advanced imaging technology enhances margin assessment in real-time during surgeries, aiming to improve patient outcomes by reducing the need for repeat surgeries. Additionally, Perimeter engaged Red Cloud Securities for liquidity services to boost market stability and share liquidity, commencing March 15, 2023.

Perimeter Medical Imaging AI, a commercial-stage medical technology company, announced its AI technology is featured in the "Artificial Intelligence: Your Mind & The Machine" exhibit at the Museum of Science & History (MoSH) in Memphis, TN, running until May 6, 2023. The company’s CEO, Jeremy Sobotta, emphasized the significance of their next-gen ultra-high resolution optical imaging technology being evaluated in clinical trials at the West Cancer Center. Supported by AI industry leaders, Perimeter aims to enhance surgical decision-making for cancer patients. The company’s innovative imaging systems are FDA-cleared and are backed by a grant of up to $7.4 million from the Cancer Prevention and Research Institute of Texas.

Perimeter Medical Imaging AI (PYNKF) announced significant leadership changes, appointing Suzanne Foster as the new Chair of the Board of Directors. Effective immediately, her extensive background in healthcare will enhance the company's mission in cancer surgery technology. CEO Jeremy Sobotta expressed confidence in Foster's leadership, praising her experience within the organization. Former Chair Dr. Anthony Holler remains as a director. Additionally, Chris Scott resigned as CFO, with Russell Wagner stepping in as Interim CFO while a search for Scott’s replacement begins. Perimeter aims to leverage its advanced imaging technology to improve patient outcomes.

Perimeter Medical Imaging AI (TSX-V: PINK, OTC: PYNKF) announced the completion of two additional installations of its S-Series OCT system at the end of 2022, successfully doubling its commercial installed base during Q4. CEO Jeremy Sobotta emphasized the momentum in their business, particularly within a major healthcare system, enhancing the value perceived by early users. This expansion aims to improve patient outcomes and reduce healthcare costs in the U.S.

Perimeter Medical Imaging AI (PYNKF) announced a peer-reviewed study published in JAMA Otolaryngology—Head and Neck Surgery validating its wide-field Optical Coherence Tomography (WF-OCT) technology for real-time margin visualization in head and neck surgeries. The study involved 53 patients with squamous cell carcinoma, demonstrating that WF-OCT can potentially improve surgical outcomes without disrupting existing workflows. CEO Jeremy Sobotta highlighted the importance of this innovative imaging technology, which correlates well with histological results.

Perimeter Medical Imaging AI, Inc. (TSX-V: PINK, OTC: PYNKF) announced its third-quarter financial results for 2022, highlighting key developments in its clinical trials and commercial placements. The company activated eight clinical trial sites for its B-Series OCT system with ImgAssist AI and received FDA approval for further expansion. Operating expenses rose to $5.94 million, while the net loss improved to $818,527 compared to $3.88 million in Q3 2021. Cash and cash equivalents stood at $43.2 million as of September 30, 2022.

CEO Jeremy Sobotta expressed optimism regarding ongoing trials and commercial adoption amid challenging conditions.