Perimeter Medical Imaging AI, a commercial-stage medical technology company, announced strong financial results for the third quarter of 2023 and provided updates on its advancements in artificial intelligence (AI) technology for breast conservation surgery.
During the past quarter, Perimeter focused on advancing its next-generation AI tech, which is currently in clinical development. The company successfully introduced improved AI into an ongoing clinical trial evaluating the use of Perimeter B-Series OCT (optical coherence tomography) combined with AI during breast conservation surgery. Based on feedback from the FDA, Perimeter has integrated a planned interim analysis into the trial protocol, providing the option to conclude the trial early for regulatory submission or continue to gather additional data. The goal is to provide surgeons with real-time margin assessment using AI and high-resolution imaging, potentially setting a new standard of care for breast conservation surgery.
Perimeter also reported other significant updates. The company has added three additional sites to support patient enrollment in the clinical trial. Additionally, Perimeter has been shortlisted to advance to the next stage of a grant funding program sponsored by the Advanced Research Projects Agency for Health (ARPA-H). This program is part of the Biden Cancer Moonshot initiative, and Perimeter is pleased to see Dallas selected as one of three regional hubs in ARPA-H’s $2.5 billion health innovation network.
In terms of financial results, Perimeter reported its third-quarter 2023 figures. The company changed its presentation currency from Canadian dollars to United States dollars to improve comparability with other publicly traded businesses in the industry. Adrian Mendes, CEO of Perimeter, was also appointed to the company’s Board of Directors.
To discuss the third-quarter results and provide a corporate update, Perimeter will host a conference call and live audio webcast today at 5:00 pm Eastern Time. The call can be accessed by dialing the provided phone numbers and using the conference ID, or by listening to the webcast on Perimeter’s website.
Perimeter Medical Imaging AI is a medical technology company headquartered in Toronto, Canada, with a presence in Dallas, Texas. The company is dedicated to transforming cancer surgery through the use of ultra-high-resolution, real-time, advanced imaging tools. Its FDA-cleared Perimeter S-Series OCT system provides cross-sectional visualization of excised tissues at the cellular level. Perimeter is also developing the Perimeter B-Series OCT with ImgAssist AI, an investigational technology currently undergoing evaluation in a pivotal clinical trial with support from a grant awarded by the Cancer Prevention and Research Institute of Texas.
References:
– Perimeter Medical Imaging AI Reports Third Quarter 2023 Financial Results and Provides Corporate Update
