Stifel on Monday reiterated its 'buy' rating on shares in Polarean Imaging PLC (AIM:POLX, OTC:PLLWF) with a 4p price target, a significant premium to the current 0.46p valuation.
The spur is progress at the University of Virginia Health, where Polarean has just signed a supply deal that will see the hospital fully equipped with clinical-grade “hyperpolarisers”.
These convert the company’s proprietary xenon gas into an imaging agent that allows conventional MRI machines to capture lung function in fine detail.
The first clinical scan at UVA is expected in the fourth quarter, marking the transition from research use to clinical practice.
UVA was the site of Polarean’s earliest human trials, and its centre has secured $7.4 million from America’s National Institutes of Health to study conditions ranging from asthma to complications from vaping.
Stifel reckons this latest deal should support the low end of Polarean’s already reduced 2025 sales guidance of $2.5 to $3.5 million. For now, the broker has left its forecast at $2.5 million.