Polarean Imaging PLC (AIM:POLX, OTC:PLLWF)'s trade-in agreement to exchange the University of Virginia Health System’s (UVA Health) existing two research hyperpolarisers for two new clinical-grade systems is an encouraging development, Stifel suggests.
Further conversion of existing research polarisers into clinical-grade units remains a key part of the commercial strategy to increase adoption of Xenon MRI in the US market, adds the broker.
“While we await details of any financial implications from this trade-in agreement, successful installation of these two units by year-end, as well as two others in progress, would result in 6 installed clinical units, on track to meet the 5-7 installed clinical base target by end-2024, and exceed our 5 unit forecast.”
Polarean expects to install the new systems later this year, which will enhance UVA Health's Xenon MRI research program and provide the basis for clinical Xenon MRI capabilities in the future.
Buy is Stifel’s recommendation.