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Good post, Phen—totally agree it might’ve seemed lightweight on first skim, but this kind of recognition from the American Thoracic Society is basically peer-reviewed prestige. In U.S. medical circles, that opens doors: hospital networks, research funding, and clinical adoption all move faster when the science has top-level validation behind it.

But you're spot on—the real test now is execution. Sales traction, FDA momentum (especially re: expanded indications or reimbursement), and visibility in U.S. pulmonary clinics are where the rubber hits the road. If they land even one major hospital system or scanning network, the shift in sentiment will be dramatic.

This isn’t hype—it’s set-up. And I’d rather be holding now than scrambling in hindsight when the volume returns.

ST

POLX just landed a serious stamp of credibility: Dr. Driehuys, the guy who literally invented Xenon MRI, has been honoured by the American Thoracic Society. This isn't some industry pat-on-the-head—it’s top-tier U.S. clinical recognition, straight from the heart of pulmonary medicine.

With Xenoview already FDA-approved, this award reinforces what’s becoming clear: Polarean’s tech isn’t experimental—it’s becoming essential. The U.S. healthcare system is now firmly in play, and once adoption picks up there, the global dominoes tend to follow.

For a company at this stage, this kind of recognition is gold.

ST

Cheers for the math lesson—but I’ll stick with the calculator, not the sarcasm.

Market cap is around £15m at 1.2p, with ~1.21 billion shares. A move to 5p would be about a £60m cap, which is pretty standard territory for a revenue-generating medtech with FDA clearance, growing sales, and platform potential.

That’s a 4x, not a 10x. And it’s not fantasy—it’s where a few commercial wins or a pharma tie-up could legitimately take us. If you think that’s 1000% off, fair play—but at least get the decimal in the right place before calling it out.

GLA indeed—especially to those who know how to divide.

ST

Hi Graham..

I hear you. A lot of us are in the same boat—2021 entry, FDA delays, dilution... the works. But here’s the thing: capitulating at 8–9p after weathering this far feels like letting the storm drown you just as the clouds begin to break.

The current price reflects frustration, not fundamentals. The tech is still unique—FDA-cleared, non-invasive, high-resolution lung imaging with no direct competitor. Now that the regulatory saga is behind, it’s all about execution.

Let’s talk potential:

Current market cap is hovering around £15m.

Cash at year-end 2024 was $7.2m, and if they're careful (and land any contracts), dilution risk is modest near term.

If they land a handful of commercial contracts (hospitals, pharma partnerships, or reimbursement traction), sentiment flips—and this could easily rerate to a £40–60m cap (around 20–30p/share).

Any pharma collaboration or clinical trial licensing? That could push us into 40–50p territory on momentum alone.

And a takeover? This is niche tech, fits like a glove into larger imaging portfolios (GE, Siemens, Philips). If a bid ever came, it wouldn't start at 10p.

So no, we may not see 60p tomorrow, but break-even or better isn’t out of reach in 12–24 months. Selling now locks in the pain. Holding keeps optionality alive.

It’s not hope—it’s a bet on actual deliverables now. Up to management to prove they can finally walk the talk.

DYOR

ST

Tanks = Trunky.

Sorry, the spell check got the best of me.

Tanks, here's my 2 pence...

It's a fair question — and one that’s been echoing for some time now. On paper, you'd expect any half-decent commercial team to start warming up the market during the regulatory runway, especially when FDA approval was within reach. That’s basic textbook: generate buzz, prep KOLs, and queue up early adopters so you hit the ground running.

But here's the likely reality: you can’t push for pre-orders or major clinical commitments when the regulatory nod is still pending, especially with a novel platform like hyperpolarised xenon MRI. Hospitals don’t gamble on unapproved tech — not in today’s budget environment. Procurement committees don’t sign off on “maybes.”

That said, yes, Polarean absolutely should have done more groundwork: awareness campaigns, clinical education, demo installs, published case studies — the sort of noise that doesn’t require a sales contract but primes the pump. From the outside, it looks like the commercial side lagged behind the science.

Still, let’s not pretend this is a consumer product launch. This is medtech, regulated and risk-averse to the bone. The lack of early sales is frustrating, but not necessarily damning — what matters now is how they capitalise post-approval. If we don’t see traction now, then it’s not about timing — it’s about leadership.

ST

Ah, PrivateRyan, ever the battlefield medic of AIM doom, stitching together fragments of unrelated corpses and calling it a prognosis. You're not entirely wrong — just lazily analogical and conveniently selective.

Yes, Polarean issued a lot of shares. Because — newsflash — that’s what companies without revenue but with FDA approval do when transitioning from R&D to commercial ops. The key question isn’t how many shares, it’s what they bought with them. And here’s what they bought:

An FDA-approved product actually scanning patients,

Reimbursement codes already live (unlike most small caps still praying for NICE),

A commercial team on the ground,

Real installations at major centres, and

A partnership with Philips, which, in case anyone missed it, isn't some AIM lifestyle outfit but a multi-billion-dollar global imaging leader.

Now, you’re reaching for the tired old Betamax vs VHS comparison — cute, but flawed. The better product didn’t lose because it wasn’t funded. It lost because of format wars, distribution control, and licensing politics — not exactly a one-to-one with regulated imaging agents and medical reimbursement. Feedback Medical? Different market, different tech, different trajectory — the equivalent of comparing a toaster to a gas turbine because both use heat.

You say there's a "race to get the share price up." No, there’s a race to scale adoption. And yes, it’s a race against cash, as it always is with emerging medtech — but this isn’t desperation. This is execution under way. The reason the share price hasn't caught up yet is because retail prefers fantasy biotech with zero approvals and 12-page posters. Xenoview is already live. That’s not speculation, it’s commercialisation.

And the idea of switching out now — right after dilution, right before revenue, and just as Philips is potentially integrating — is like leaving the theatre just before the second act, because you didn’t like the price of popcorn. You may re-enter, but you’ll be standing in the aisle when the good stuff starts.

Still holding POLX myself — not because I’m blind to dilution, but because I’m very aware of what comes next. And this time, it's not a pitch deck. It's a product, a market, and a chance at scale.

You want visibility? Step out of the fog of recycled metaphors and read a results statement..

ST

Absolutely, Boggles. On a side note, look at the Market Makers’ Toddler Tantrum Tactics.. So here we are again. POLX showing promise, deals progressing, cash runway clarified – and what do the market makers do? Throw a fit like a 5-year-old denied a second helping of jelly. Spread’s as wide as the Thames at low tide, price gets pinged down on thin volume, and every tick up is met with an immediate nudge back down, like they’re swatting flies. Classic shakeout tactics.

Why? Because no one’s bloody selling. That's the problem for them. They want free shares. They need churn. But retail’s onto them this time. So what's the play? Crank up the volatility, widen the spread to absurd levels (12.5% today – seriously?), and flush out anyone who gets a bit nervous seeing red for five minutes.

It’s not about value anymore – it's about pressure. They know retail is watching the Philips collab, the scan adoption, the OEM integration whisperings... and they want your seat before the lights go on. The goal? Get weak hands to blink, dump, and create liquidity where none exists. You know, artificial fear for real gain. Their gain.

But here’s the twist – I’m not selling. Not now. Not at 1.25. Not at 1.15. Not even if they drop it to a penny and offer me a foot massage. Because I’ve done my homework, and unlike some of these short-term monkeys, I’m here for the rollout, not the rollercoaster.

Let them play their games. At some point the music stops, the tech speaks, and the rampers, dumpers, and dodgy spread gamblers will be watching from the sidelines.

We’re holding the bloody shares.

St

Realistic and Anticipated POLX Milestones (12–18 Months Outlook)

Expansion of U.S. Hospital Installations

Continued onboarding of academic and commercial scanning sites (building on Duke, Cincinnati, UC Davis, etc.)

Acceleration of Xenoview Scan Volumes

Increasing clinical use in asthma, COPD, long COVID, and pre-operative pulmonary assessment

Full Commercial Launch Impact

Revenue growth from the expanded U.S. sales team (deployed early/mid-2024) begins to materialise

OEM Integration with Philips

Potential full technical integration of Xenoview into Philips MRI platform — crucial for widespread adoption

FDA Pediatric Label Expansion (6–12 years old)

Planned submission to extend Xenoview’s use in children aged 6–12, tapping into the large pediatric respiratory market

European Market Progress

Possible CE Mark regulatory steps or strategic EU partnerships to access reimbursement and clinical pathways

Further International Deals

Expansion beyond Taiwan: potential distributor or licensing deals in Japan, South Korea, Australia, and (eventually) China — now protected by a granted xenon imaging patent

Increased Insurance Coverage (U.S.)

Broader payer uptake; insurers progressively recognising and reimbursing Xenoview under established CPT codes

Clinical Data Publications and Conferences

Additional peer-reviewed articles and major conference presentations to reinforce clinical efficacy and economic value

Pharmaceutical Collaborations

Partnerships with drug developers using Xenoview as a lung biomarker tool in clinical trials — particularly in respiratory therapies

Revenue Ramp-Up and Investor Guidance

First meaningful financial disclosures showing recurring revenue, scanner placements, and scan growth metrics

Regulatory Developments (China/EU)

Potential early steps toward regulatory filings in China and Europe, using IP protections and clinical precedent

Technology Development and Optimisation

Ongoing enhancement of the polariser system (hardware/software) and platform improvements for easier integration and throughput

Inventory and Supply Chain Scaling

Ensuring timely polariser deployments, scanner support, and enriched xenon gas availability as volume demand increases

Flexible Business Models (Polariser Leasing or OPEX)

Introduction of non-capex options (leasing or pay-per-use) to reduce adoption barriers for smaller or budget-sensitive sites

KOL (Key Opinion Leader) Network Expansion

Strategic engagement with influential pulmonologists and radiologists to advocate for Xenoview’s adoption and clinical value

CPT Code Refinement or Reclassification

Potential movement into higher reimbursement tiers as real-world data proves clinical utility and economic benefit

ST

Good morning all,

I’ve been in POLX long enough to remember when FDA approval was still a rumour and every forum post was either gospel or garbage. Fast forward two years, and we’re not in the dream phase anymore — we’re delivering.

Xenoview is now FDA-approved, scanning lungs in real hospitals, with CPT codes and reimbursement in place. This isn’t theory — it’s revenue. Add the Philips collaboration, and it’s clear we’ve caught the eye of a serious global imaging player. That’s not PR fluff. That’s strategic positioning for scale.

Internationally, Taiwan distribution is live, and the Chinese patent was granted — a quiet but crucial move into the world's biggest health market. Most AIM companies talk global. POLX is building it.

And yes, the 1p fundraise hurt. But it bought time, built the team, and launched commercialisation. No raise, no runway. Simple.

Management? Von Jako knows how to grow and sell medtech. Driehuys still holds serious equity and IP. No one’s bailed. That matters.

The next 12 months? More hospitals onboarded. Philips integration. Early revenue growth. Pharma tie-ins. And if you’ve noticed the U.S. rollout is now moving, it’s because the foundation is finally solid.

I’m still here, not because I’m stubborn — but because POLX has crossed the hardest chasm: from R&D to real-world deployment. The market will catch up. I’m not going anywhere.

ST

Fonzi, —ease off the gas

Look, I get it—you’re excited. We all are. But you’re dropping posts at the pace of a squirrel on Red Bull, and half of them read like they were written mid-sugar rush.

Every second: “this is it!”, “strap in!”, “moon incoming!”—we’re investing here, not watching a Marvel trailer.

Polarean’s story doesn’t need overcooked hype. The fundamentals are starting to speak for themselves: FDA approval, Philips collaboration, ATS saturation, clinical validation. No need to shout it every 90 seconds like the markets have the attention span of a toddler on TikTok.

Sometimes the smartest move is to say less and let the weight of the RNSs do the talking. Otherwise, you risk sounding like you’re trying to sell a penny crypto coin, not a medtech platform with global potential.

So just… dial it back a notch. Let the share price breathe. You’ll thank yourself when your posts actually land with impact instead of blending into the noise.

Cheers.

ST

So, folks, Xenon MRI at ATS 2025 – The quiet storm hits San Francisco! Where's my glass of sparkling wine, please?

So while most AIM companies are still fantasising about “platform potential” in PowerPoint purgatory, Polarean walks into the biggest global respiratory summit with 30+ independent presentations from top-tier clinicians. That’s not PR. That’s saturation.

We’re not demoing the tech in some basement booth between a CPAP startup and a lung-shaped stress ball company. No—this is prime-time medicine, and Xenon MRI isn’t being introduced. It’s being cited, dissected, applied.

COPD. IPF. Asthma. Long-COVID. Paediatrics. Transplant rejection. Cystic fibrosis. Even bloody vaping and cannabis inflammation. This thing isn’t niche anymore—it’s bordering on diagnostic infrastructure.

You don’t get 30 studies from 10+ clinical sites unless:

1. The tech works.

2. It’s reproducible.

3. And crucially—it’s being used without Polarean needing to beg for it.

If you're a fund manager still asking, “Is this real-world clinical validation?”—mate, it's 45 feet high on a screen in San Francisco in front of the world’s pulmonology establishment. It doesn’t get more validated than that.

More importantly: this is ecosystem anchoring. The kind of visibility that turns technology into a diagnostic standard, and eventually into licensing revenue—whether through pharma trials, device integrations, or full buyout.

Still trading at a £13m market cap? That’s not undervalued. That’s absurd. If we were on Nasdaq with this level of clinical adoption, we'd be sitting north of $250m, minimum.

So yes, I’m holding. Not because of hype. But because in a sea of empty claims, Polarean just published its receipts. Loudly. Clinically. And across every corner of respiratory care.

Eyes open. Silence isn’t always a bad sign. Sometimes it’s just the pause before the valuation catches up.

ST

Nice spot, LoSpeculatore.

You’re bang on. While everyone’s high-fiving over Philips and kids’ lungs, the real long-term value may have quietly landed back in January—with that Chinese patent.

China isn’t just “another market”. It’s the epicentre of the global respiratory disease crisis—home to nearly a quarter of all COPD cases and 40% of new lung cancers. And it’s not just smoking; it’s smog, coal, ageing population, and historically limited early screening. The market is immense.

Now overlay that with what Philips has just been through:

They took a financial beating in 2024 thanks to Beijing’s anti-corruption crackdown on hospital procurement (read: brown envelopes and inflated vendor contracts). So how does a Western giant recover its China exposure? By backing exclusive, patented tech that can’t be undercut or replaced. That’s what this is.

POLX now has:

An issued, enforceable patent in China ZL201980047729.5, if my memory is still reliable.

FDA approval in the US

Strategic integration with Philips MRI infrastructure

And—if you’re paying attention—a rare narrative that ticks the West + China box in medtech IP.

This isn’t just about Philips gaining edge over GE and Siemens. This is Philips protecting its flank in China by allying with a niche innovator (POLX) holding proprietary tech in a space regulators actually want to modernise: non-invasive, radiation-free diagnostic imaging.

If you think that ends in a quiet licensing deal and a few machines in Beijing hospitals, I’ve got a SPAC to sell you.

What it could signal is the early strategic foundation for Philips to either: a) roll POLX into a broader diagnostics division, or

b) ring-fence the IP as exclusive in China for 5–10 years and run clinical dominance.

Either way, we just became a very inconvenient asset for anyone trying to compete in pulmonary MRI globally.

Market’s still pricing us like a dodgy AIM biotech.

Reality? We’re now wearing a “strategic asset” badge in two of the world’s biggest markets.

---

Hold tight, folks. The pieces are moving.

ST

Https://www.philips.com/a-w/about/news/archive/standard/news/articles/2025/philips-and-polarean-partner-to-bring-advanced-xenon-lung-mri-to-more-children-with-chronic-obstructive-lung-disease.html

So here we are, comrades. After months of "we're in discussions", "we're exploring opportunities", and the occasional "rest assured" while the SP flirted with extinction, we finally get something with actual meat: Philips is not just still around – they’re publicly committed to rolling out Polarean’s Xenon MRI tech to paediatric COPD cases.

This isn't your usual fluff RNS. It's an endorsement from one of the biggest players in global imaging. Not a vague “interest” or “future intention,” but Philips actively pushing XENOVIEW tech into broader clinical use – and specifically for children, where conventional imaging is both more invasive and less effective.

Let’s be clear: if you want institutional recognition, real traction, or an actual future in medtech, this is the sort of partnership you need. Not some “distributor in Taiwan” jazz (helpful, sure, but not game-changing). Philips are effectively saying: "This stuff works, we believe in it, and it belongs in next-gen MRI diagnostics for vulnerable patients."

Add this to:

FDA already giving the green light for adult use.

sNDA now submitted to drop the age to 6 (so Philips jumping ahead here is no accident).

Two 10-second breath holds = kid-friendly imaging, minimal fuss, no radiation.

Today’s 30% SP pop? Deserved. And still, in my view, modest considering the size of the addressable market (half a billion+ chronic lung patients globally), and the unique position of XENOVIEW as the only FDA-approved hyperpolarised gas for MRI.

It also smells like the start of something bigger. Philips don’t do PR drops lightly. Could this be early positioning ahead of broader integration – maybe even M&A interest down the line? Who knows. But at the very least, it reaffirms that POLX tech isn’t niche – it’s platform-level, scalable, and being taken seriously.

Now if only Walbrook PR could get their heads around actually pushing this narrative to institutions instead of emailing the same PDF to AIM punters every quarter, we might see that re-rate we've all waited for since about... 2021.

Holding tight. Not selling a bean.

ST

shortway, your usual ****tail of cynicism and selective amnesia is showing again.

yes, polarean has raised funds — like every early-stage biotech building a platform technology. the difference? they’ve actually delivered: fda-cleared systems, published peer-reviewed studies, and collaborations with top-tier institutions. that’s not hot air — that’s foundational ip being validated step by step.

as for your claim that nih-funded studies “won’t get gas exchange approved” — no kidding. they aren’t meant to. they subsidize the development pipeline, provide independent clinical validation, and derisk the tech for future regulatory filings. smart biotech builds on public/private synergy. you should know that — or maybe you do, but pretending not to suits your agenda better.

three years to market? possibly. but don’t present that as gospel when the actual timeline depends on trial scope, endpoints, and regulatory route. a de novo or 510(k) submission isn’t science fiction here. £10m for a breakthrough in lung imaging is hardly everest — especially when you consider the growing relevance of non-ionizing functional imaging in post-covid, copd, and pulmonary fibrosis.

and your claim about “no pharma tie-ups”? tell me you haven’t read the rns without telling me. the vida licensing deal and oxford university collaboration are tie-ups. pharma will come knocking once the data matures — that’s how clinical-stage biotech works. you don’t get pfizer at your door just because you had a good idea on a napkin.

“gas exchange is hot air”? no, mate. it’s the holy grail of functional lung imaging. spirometry is ancient tech. ct is radiation-heavy and gives no regional function data. hyperpolarised gas mri offers real-time insight into alveolar function — and polarean owns the ip and the pathway.

so keep waving your one-liners if it makes you feel smart. but don’t mistake weary sarcasm for due diligence. the rest of us prefer facts over performance art.

st

Yes, Shortway—I do know what an institution is. I also know that the absence of visible institutional activity in a microcap doesn’t automatically signal failure, especially in a field like medtech where non-dilutive funding and strategic grants often play a more pivotal role than equity raises at this stage.

You acknowledge the long-term potential in gas exchange imaging—good. Then surely you realise that translational adoption is already underway via NIH-funded studies, early adopter institutions like Cincinnati Children’s and the VA system, and international academic consortia. That’s a different trajectory than your standard AIM lifestyle biotech.

As for funding trials—you're assuming the company will go it alone. That ignores the clear shift Polarean is making toward targeted collaborations, including contract research, pharma tie-ins, and licensing routes. A traditional raise may not even be necessary if the model pivots toward service-based deployments, especially in high-need areas like long COVID, ILD, and pulmonary hypertension.

Single-digit market cap? Temporary. If a major institution or pharma partner sees the data, they’ll take the IP, not the market cap, into account. Dismissing that scenario outright suggests you either lack imagination—or have a short position to protect.

ST

RE: Next fund raise

Shortway, your cynicism is only matched by your selective reading of the facts.

You claim there’s “very little institutional support,” yet you conveniently ignore the recent insider buying, including from the CEO, and the ongoing NIH-funded studies that underscore confidence in the long-term potential of hyperpolarised xenon MRI. No, this isn't a mass-market spirometer replacement for GP asthma clinics—that was never the point. The real value lies in the growing recognition that traditional pulmonary diagnostics are grossly inadequate for detecting regional and early-stage lung disease—especially in post-COVID, interstitial lung disease (ILD), and COPD cohorts where functional imaging is critical.

As for the claim that it has “no real diagnostic benefit”—have you even read the FDA’s approval rationale or any of the peer-reviewed publications? Xenon MRI enables clinicians to visualise gas exchange at the alveolar level, something no other imaging modality does non-invasively. That’s not “research curiosity”; that’s a game-changer for stratifying disease and guiding treatment—precisely why the VA and major U.S. hospitals are adopting it for translational use.

High cost? Sure, early tech is expensive—so was PET, so was fMRI. But reimbursement pathways are being pursued, and once CPT codes are secured and repeat scan utility is demonstrated (especially in chronic respiratory illness), the economics improve sharply.

Sales are modest because this is a long-cycle medtech play with regulatory, infrastructure, and market education hurdles—not a gadget off the shelf. The FDA approval wasn’t handed out as a novelty prize. It was granted based on demonstrable safety, efficacy, and unmet clinical need. Dismissing that as irrelevant suggests either a failure to grasp the healthcare innovation curve or a deliberate attempt to spread doubt.

Not every biotech company is destined for greatness, but to declare “no practical use” when the science, regulatory body, and clinical interest say otherwise is simply not credible.

Seriously, Shortway.. you attempt was a little mediocre. Try harder next time.

ST

...and,by the way — Nukem and Bracco have not walked away from Polarean. In fact, in June 2024, both companies increased their involvement, co-leading an oversubscribed $12.6 million financing round to accelerate the commercialisation of XENOVIEW™. After that, Nukem owned around 18.2% of Polarean and Bracco about 14.4%. Their continued investment shows strategic commitment, not abandonment.

ST

Neon (can't remember your posts here , actually and no historyto show,but..) , I get your frustration, but you’re oversimplifying the situation. Yes, past management (Von Jako) was disappointing and diluted shareholders badly, but the cash burn you're referring to is no longer at "mammoth" levels. They slashed operating costs significantly after the October 2023 fundraise and streamlined operations to focus purely on commercialising the 129Xe MRI tech.

Also, Nukem, Philips, and Bracco didn’t walk away because of the cash burn – they walked because (1) the market for hyperpolarised MRI is still emerging, (2) hospitals were slow to install polarisers post-COVID, and (3) reimbursement processes in the US were slower than expected. That's a sectoral issue, not a "Polarean mismanagement" story.

Your prediction about administration is overly dramatic. As of the last update (March 2025), they had enough cash runway into late 2025 even before factoring in any commercial sales ramp-up, grant funding, or strategic partnerships – all of which are being actively pursued.

If you stopped following after the last raise, fair enough, but throwing blanket negativity without updated facts doesn’t really add value here.

Good luck to you too.

ST