Polarean Imaging PLC (AIM:POLX, OTC:PLLWF) has begun a strategic review to assess its future direction and capital structure, which may potentially lead to its exit from AIM.
The company cited continued undervaluation and low trading volumes in the UK small-cap market as factors behind the review.
The board said a delisting could reduce operational costs and provide greater strategic flexibility.
"With shares frequently trading below their intrinsic value and market activity remaining subdued, investors continue to face difficulties executing trades efficiently," Polarean said in a statement.
"At the same time, the company requires additional capital to advance the development and commercialisation of its technology."
"In light of these factors, the board is evaluating all available options to maximise long-term shareholder value, including identifying opportunities to further reduce operational costs while maintaining strict financial discipline."
No final decision has been made, the company said.
If the board opts to pursue cancellation, it would require approval from at least 75% of votes cast at a general meeting.