Perimeter Medical Imaging AI (TSX-V:PINK, OTC:PYNKF) has announced its third quarter 2023 financial results, ending the period with cash and cash equivalents of US$18,105,837 as of September 30, 2023.
The commercial-stage medical technology company also its net loss for the quarter improve to US$344,792 from US$660,781 during the same period last year.
"I am pleased with the progress made across the business this past quarter, with a particular focus on advancing our next-gen AI tech currently in clinical development," Perimeter Medical Imaging AI CEO Adrian Mendes said in a statement.
"Based on feedback from the FDA, we successfully introduced improved AI into the ongoing clinical trial evaluating the use of Perimeter B-Series OCT combined with AI during breast conservation surgery," he added.
Mendes also noted that Perimeter has been shortlisted to advance to the next stage of a grant funding program sponsored by the Advanced Research Projects Agency for Health, or ARPA-H, under its Precision Surgical Interventions program, an important Biden Cancer Moonshot initiative.
As well, Perimeter reported that, effective today, its CEO Adrian Mendes has been appointed to the company’s board of directors.
Perimeter Medical Imaging AI is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need.
Contact Sean at sean@proactiveinvestors.com