Medical imaging technology company Perimeter Medical Imaging AI, Inc. (TSXV:PINK) lives by the creed of no cancer left behind
Capital Ideas Media | October 30, 2020 | SmallCapPower: An early September equity markets selloff has investors seeing red, but speculators might instead want to look to PINK – that is shares of Perimeter Medical Imaging AI, Inc. (TSXV:PINK).
(Originally published on Capital Ideas Media on September 8, 2020)
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Perimeter Medical is hoping to revolutionize cancer removal surgery, especially for breast cancer, using its FDA-cleared imaging platform, OTIS, which provides clinicians with the real-time ability to assess tissue microstructures during diagnostic, surgical and pathology procedures.
PINK is also developing an artificial intelligence algorithm called ImgAssist, designed to identify regions suspicious for breast cancer in OTIS images of excised lumpectomy specimens.
Currently, medical professionals are reliant on post-operative histology tissue assessment to determine if all the cancerous tissue has been removed, which tends to take between two and seven days following the procedure. By contrast, OTIS expects to have results available in five to 10 minutes.
The Company’s vision is that patients will no longer experience the costly emotional and physical trauma of being called back for a second surgery due to cancer left behind.
For hospitals and surgical centres, Perimeter Medical estimates potential savings of more than $800 per patient and $16,000 per repeat surgery, as more than 25% of cancer surgeries must be performed at least twice.
The National Cancer Institute estimates that breast cancer diagnosis and treatment alone is expected to create medical expenditures of US$16.5 billion in 2020, as approximately 1.6 million breast biopsies are performed in the United States each year.
In May 2020, Perimeter Medical was awarded US$7.4 million by the Cancer Prevention and Research Institute of Texas to fund its development of ImgAssist.
PINK began trading on the Toronto Venture Exchange in early July 2020, following the Reverse Take Over (RTO) of New World Resources Corp., and its stock price has climbed about 29% since.
That being said, this Company has yet to generate revenue and, thus, is shares should be considered extremely high risk.
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