Perimeter Medical Imaging Ai Inc Stock Price, News & Analysis

Perimeter Medical Imaging AI (TSX-V:PINK, OTC:PYNKF) announces the expansion of its pivotal clinical trial at Baylor College of Medicine in Houston, TX. The study evaluates the Perimeter B-Series OCT imaging platform combined with ImgAssist AI to improve margin assessment during breast conservation surgeries. Approximately 300 patients at eight U.S. sites are involved, with completion expected by late 2022. The FDA has granted Breakthrough Device Designation for this technology, aimed at aiding surgeons in real-time decision-making to reduce re-operations and healthcare costs.

Perimeter Medical Imaging AI, Inc. (OTC:PYNKF) has successfully completed the first commercial installation of its Perimeter S-Series Optical Coherence Tomography (OCT) system in a North Texas hospital. This advanced imaging technology offers high-resolution, real-time imaging of excised tissue, enhancing the surgeon's ability to visualize margins during cancer surgery. CEO Jeremy Sobotta emphasized this milestone as a validation of their market strategy. The S-Series OCT system, cleared by the FDA, could lead to better patient outcomes and reduced healthcare costs.

Perimeter Medical Imaging AI, Inc. has launched a pivotal clinical trial evaluating its Perimeter B-Series OCT with ImgAssist AI for breast conservation surgery. Conducted at the Margaret West Comprehensive Breast Center, the trial aims to assess the technology's effect on positive margin rates, which currently require reoperation in 15-20% of cases. With a $7.4 million grant from CPRIT and FDA Breakthrough Device Designation, this study marks a crucial step towards improving surgical outcomes. The trial anticipates completion by the end of 2022.

Perimeter Medical Imaging AI, Inc. has announced a strategic C$43.4 million investment from Social Capital Holdings to enhance its advanced imaging technology for cancer surgery. This funding aims to accelerate market development and commercialization of the Perimeter S-Series imaging devices in the U.S., addressing significant unmet medical needs. The investment will also support ongoing clinical development of next-gen AI technologies. Under the terms, Social Capital will receive subscription units priced at C$3.00 each, with related warrants at strike prices of C$3.99 and C$4.50.

Perimeter Medical Imaging AI, Inc. (OTC:PYNKF) reported its Q3 2021 financial results, showing a net loss of $3,880,172 compared to a net income of $800,030 in Q3 2020. Operating expenses rose to $3,748,590 from $2,201,256 in the previous year. The company received FDA approval for its investigational device exemption (IDE) for the Perimeter B-Series OCT with ImgAssist AI, enabling a pivotal clinical trial to assess the technology's impact on breast conservation surgery. As of September 30, cash and equivalents stood at $7,775,195.

Perimeter Medical Imaging AI (OTC:PYNKF) has announced FDA approval for a pivotal study evaluating its B-Series OCT imaging system equipped with ImgAssist AI. This multi-center trial will assess its effectiveness in improving positive margin rates for breast cancer patients compared to standard care, with over 300 participants expected across 8 sites. Led by Principal Investigator Dr. Alastair Thompson at Baylor College of Medicine, the study aims to reduce re-operation rates in breast conservation surgeries. This milestone follows the 'Breakthrough Device Designation' received earlier this year.

Perimeter Medical Imaging AI, Inc. (TSX-V:PINK, OTC:PYNKF) announced the outcomes of its annual shareholder meeting held on October 27, 2021. Shareholders approved all resolutions, including the re-election of nine directors and the reappointment of KPMG LLP as auditors. Additionally, the stock option plan was amended to increase common shares reserved for issuance. The company granted 1,949,663 stock options at $2.85 each. Perimeter continues to advance its imaging technologies for cancer surgery, including the FDA-cleared S-Series OCT and the ImgAssist AI project.

Perimeter Medical Imaging AI (TSX-V:PINK, OTC:PYNKF) will participate in the LD Micro Main Event Investor Conference from October 12-14, 2021, in Los Angeles, CA. CEO Jeremy Sobotta will present on October 12 at 3:30 pm PT. Perimeter's S-Series Optical Coherence Tomography (OCT) is FDA-cleared and offers real-time tissue visualization, potentially improving patient outcomes. The company is also developing the B-Series OCT with ImgAssist AI, funded by a $7.4 million grant from CPRIT, aimed at reducing re-operation rates in breast cancer surgeries.

Perimeter Medical Imaging AI (TSX-V:PINK, OTC:PYNKF) will present at the Lytham Partners Fall 2021 Investor Conference on October 5, 2021, at 12:30 p.m. ET. The conference aims to showcase Perimeter's advanced imaging technologies designed to enhance cancer surgery outcomes. A webcast of the presentation will be available on their website. Management will also conduct virtual one-on-one meetings during the event, running from October 5-7. Perimeter is known for its S-Series OCT and B-Series OCT with ImgAssist AI technology.