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Imho the problem has been caused largely by the over-confidence of the previous CEO - not helped by FDA delays - and the naivety of the BoD.
The bureaucracy surrounding the purchase of capital equipment is now crystal clear for all to see (if people didn’t realise it already) and the company’s apparent exclusive focus on the US market has meant that all their eggs are seemingly in one basket.
Meanwhile, AIM continues to be a graveyard for biotech and medtech companies.
So, in effect, a perfect storm.
The following paper (funded by, but not apparently influenced by, Cyclomedica Aus) appears to compare Technegas and X19 MRI.
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10206636/
It has a Summary thus:
‘In summary, using the current ideal contrast agents for ventilation SPECT and MRI, we imaged patients with and without obstructive lung disease prior to lung cancer resection to quantify and compare ventilation defects observed by both modalities. We report that the burden of ventilation defects quantified by Technegas SPECT and 129Xe MRI are correlated and increased in participants with COPD. Our observations indicate that, despite substantial differences between the imaging modalities, assessment of ventilation defects using established quantification practices for Technegas SPECT and 129Xe MRI are comparable, provided the same quantification approach is used. Future work is required to determine if superior and comparable improvements in patient outcomes are achieved by integrating ventilation assessment with Technegas SPECT and 129Xe MRI into the clinical management of lung diseases and potential improvement in outcomes post-resection. For now, based on our findings, the selection of ventilation imaging modality can be guided by local availability and regulatory approval, contraindications, and concern of radiation burden.’
I must confess to understanding
This doesn’t necessarily have to be bad news for POLX.
To have other companies in the field basically reinforcing that the US needs to ‘get up to date in imaging technology’ is no bad thing.
POLX certainly couldn’t do it themselves.
It then becomes a marketing/ sales battle over which technology to choose.
Significant Shareholders
Shareholder Number Ordinary
Shares %
Amati AIM VCT plc 25,114,469 11.64
Bracco Imaging S.p.A. 16,388,888 7.59
Hargreaves Lansdown 13,434,964 6.22
Bastiaan Driehuys 12,267,503 5.68
NUKEM Isotopes GmbH 11,523,462 5.34
Chelverton Asset Management Ltd 9,425,000 4.37
Tyndall Investment Management 8,189,478 3.79
Canaccord Genuity Wealth Management (Inst) 7,111,877 3.29
% in public hands?
I guess it boils down to who exercises control of these holdings.
Normally, it’s viewed as a positive sign when institutions invest in a company, largely because of their supposed greater expertise and insights.
Nukem’s holding increased from 5.3% to 6% hence the RNS.
Could be positive. Who knows?
Hi Big Slick7,
It just irritates me that given the co’s poor record on PI comms, you’d think that with the help of Stifel and WalbrookPR, they could get their own website info correct.
A lot of store has been put on the fact the major shareholders have stayed solidly behind the co.
If that info’s not correct, and the co’s largely ‘in public hands’(>80%) then imho that would put off a lot of potential new investors.
Investor Meet recording:
Link posted by ‘ohisay’ on ADVFN
https://www.youtube.com/watch?v=LJwdrAU5fy8