Perimeter Medical Imaging AI Provides Corporate Update on Grant Funding Opportunities and Announces Conference Call/Webcast to Discuss Fourth Quarter and Year-End 2023 Financial Results
DALLAS and TORONTO, March 20, 2024 /PRNewswire/ - Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTC: PYNKF) (FSE: 4PC) ("Perimeter" or the "Company") – a commercial-stage medical technology company – announced upcoming events and provided a corporate update on grant funding opportunities to support its next-generation AI technology development.
Adrian Mendes, Perimeter's Chief Executive Officer, stated, "As we continue to ramp the number of surgeons using our technology, we are excited to showcase our flagship Perimeter S-Series OCT technology at an international conference hosted by the Society of Surgical Oncology. This is an important opportunity to connect with key customers and educate the broader surgical community about the benefits of using Perimeter's innovative technology to assist with visualizing margins real-time in their ORs."
Society of Surgical Oncology (SSO) International Conference on Surgical Cancer Care - #SSO2024
Dates: March 20-23, 2024
Location: Georgia World Congress Center, Atlanta, GA
Mr. Mendes continued, "Turning to the product development side of the business, although we were shortlisted to the final stages, we did not receive funding from this tranche of the federal PSI grant program sponsored by the Advanced Research Projects Agency for Health (ARPA-H). Although disappointing, it's important to note that these funds were proposed for future tissue type investigations and related product development. All of our current clinical and product development plans remain on track and within our current financial modeling, including a planned interim read-out from our ongoing clinical trial evaluating the use of proprietary AI combined with our OCT technology during breast conservation surgery. We continue to explore other relevant grant funding opportunities and were pleased to receive a term extension of our existing CPRIT grant, ensuring continued access to this funding beyond the interim read-out clinical milestone. We look forward to providing a more detailed corporate update when we announce our year-end 2023 results next week."
Perimeter's Fourth Quarter/Year-End 2023 Results - Conference Call/Webcast Information
The conference call will also be broadcast live online through a listen-only webcast, which will be posted on the Investors section of the Company's website. The webcast will be archived on the Company's investor relations webpage for at least 90 days. A telephonic playback of the conference call will be available for 14 days after the conference call by calling 1-844-512-2921 or 1-412-317-6671 and referencing conference ID 62216896. The above listed dates and times are subject to change.
About Perimeter Medical Imaging AI, Inc.
Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSX-V: PINK) (OTC: PYNKF) (FSE: 4PC) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the U.S., our FDA-cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents our next-generation artificial intelligence technology that is currently being evaluated in a pivotal clinical trial, with support from a grant of up to US$7.4 million awarded by the Cancer Prevention and Research Institute of Texas (CPRIT). The company's ticker symbol "PINK" is a reference to the pink ribbons used during Breast Cancer Awareness Month.
Perimeter B-Series OCT is limited by U.S. law to investigational use and not available for sale in the United States. Perimeter S-Series OCT has 510(k) clearance under a general indication and has not been evaluated by the U.S. FDA specifically for use in breast tissue, breast cancer, other types of cancer, margin evaluation, and reducing re-excision rates. The safety and effectiveness of these uses has not been established. For more information, please visit www.perimetermed.com/disclosures.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains statements that constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. In this news release, words such as "may," "would," "could," "will," "likely," "believe," "expect," "anticipate," "intend," "plan," "estimate," and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management's future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, plans and objectives of, or involving, Perimeter. Without limitation, statements regarding the potential benefits of Perimeter's work and technology, the timing and completion of Perimeter's clinical and product development plans, the continued access to CPRIT funding, the timing of the release of Perimeter's financial statements and earnings call and the timing and availability of Perimeter's webcast, are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter's control. Such forward-looking statements reflect Perimeter's current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter's financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter's Management Discussion and Analysis for the year ended December 31, 2022, which is available on Perimeter's SEDAR+ profile at https://www.sedarplus.ca, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws.
