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FONAR Announces Financial Results for Fiscal 2025
Newsfile· 2025-09-12 12:27
Core Insights - FONAR Corporation reported a 1% increase in total net revenues to $104.4 million for the fiscal year ended June 30, 2025, compared to $102.9 million for the previous fiscal year [3][7] - The company experienced a 30% decrease in income from operations, falling to $11.6 million, and a 24% decrease in net income to $10.7 million for the same period [9][12] - The diagnostic imaging management subsidiary, Health Management Company of America (HMCA), continues to grow, managing 44 MRI scanners and achieving a record scan volume of 216,317 in Fiscal 2025, a 3.3% increase from the previous year [13][14] Financial Performance - Total revenues increased by 1% to $104.4 million for the fiscal year ended June 30, 2025, compared to $102.9 million for the fiscal year ended June 30, 2024 [3][7] - Total costs and expenses rose by 7% to $92.8 million, up from $86.3 million in the previous fiscal year [3] - Income from operations decreased by 30% to $11.6 million, down from $16.5 million in the previous fiscal year [9] - Net income decreased by 24% to $10.7 million, compared to $14.1 million in the previous fiscal year [9][12] - Diluted net income per common share fell by 20% to $1.23 from $1.53 in the previous fiscal year [9] Revenue Breakdown - Revenues from the management of the diagnostic imaging center segment increased by 1% to $95.4 million for the fiscal year ended June 30, 2025, compared to $94.6 million for the previous fiscal year [4] - Revenues from product sales and upgrades, as well as service and repair fees, totaled $9.0 million, an increase from $8.3 million in the previous fiscal year [5] Cash and Assets - Cash and cash equivalents remained stable at $56.3 million as of June 30, 2025, compared to the previous fiscal year [7][10] - Total assets increased to $216.9 million from $214.2 million in the previous fiscal year [10] - Total stockholders' equity rose to $160.1 million from $156.8 million in the previous fiscal year [12] Operational Highlights - The company added two MRI scanners in Fiscal 2025, bringing the total to 44, with locations in New York and Florida [7][14] - Scan volume in New York increased by 4.4%, while Florida saw a modest increase of 1.6%, impacted by tort reform affecting MRI providers [13] - Research and development expenses decreased by 9% to $1.6 million, while selling, general, and administrative expenses increased by 11% to $29.7 million [8] Stock Repurchase and Future Plans - The stock repurchase plan initiated in September 2022 has repurchased 373,942 shares at a cost of approximately $6.07 million [15] - The company has temporarily suspended share repurchases due to a potential "Take Private" transaction announced in July 2025 [15]
LNTH LAWSUIT: Lantheus Holdings Inc. Sued For Securities Fraud; Investors Should Contact Block & Leviton to Potentially Recover Losses
Globenewswire· 2025-09-10 14:54
Core Viewpoint - A securities fraud lawsuit has been filed against Lantheus Holdings Inc. and its executives, alleging that they misled investors regarding the performance and pricing of its key product, Pylarify, leading to significant stock price declines [1][2]. Group 1: Allegations and Impact - The lawsuit claims that Lantheus and its executives provided false assurances about Pylarify's market leadership and pricing strength, while concealing competitive pressures and price erosion [2]. - Following the release of disappointing quarterly results in May and August 2025, Lantheus' stock experienced declines of over 23% and 28%, respectively, due to reduced revenue guidance and increased competition [2]. Group 2: Investor Eligibility - Investors who purchased Lantheus Holdings Inc. common stock between February 26, 2025, and August 5, 2025, and have experienced losses may be eligible to participate in the lawsuit, regardless of whether they sold their shares [3]. Group 3: Next Steps for Investors - The deadline for investors to seek appointment as lead plaintiff is November 10, 2025, and a class has not yet been certified [4]. - Investors are encouraged to contact Block & Leviton for more information on how to proceed if they have incurred losses [4]. Group 4: Whistleblower Information - Individuals with non-public information about Lantheus Holdings Inc. are encouraged to assist in the investigation or report to the SEC under the whistleblower program, potentially receiving rewards of up to 30% of any successful recovery [5]. Group 5: Firm Background - Block & Leviton is recognized as a leading securities class action firm, having recovered billions for defrauded investors and representing many top institutional investors [6].
Algernon Pharmaceuticals Announces Name Change to Algernon Health
Globenewswire· 2025-09-04 11:00
Core Viewpoint - Algernon Pharmaceuticals Inc. is rebranding to Algernon Health to focus on the Alzheimer's Disease diagnostic market and establish specialized neuroimaging clinics across North America [1][2] Company Strategy - The new clinics will utilize FDA-cleared, optimized brain-specific Positron Emission Tomography (PET) scanning systems to detect amyloid plaques, offering significantly lower radiation than standard PET/CT machines [2][5] - The PET scans will be covered by Medicare, Medicaid, and private insurance in the U.S., providing a clear revenue pathway for the company [5][11] Market Opportunity - There is a growing demand for Alzheimer's diagnostics, with 162 AD drugs currently under development, creating additional revenue opportunities for Algernon through imaging services for drug development companies and clinical trials [7][6] - The majority of existing PET/CT scanners in the U.S. are dedicated to cancer and cardiac imaging, leading to a shortage for brain-specific scanning, which Algernon aims to address [6][5] Future Plans - Algernon will soon announce its expansion and growth plans, including the location of its first U.S. flagship neuroimaging clinic [8] - The company continues to advance its subsidiary, Algernon NeuroScience, which is investigating a proprietary form of DMT for stroke and traumatic brain injury [9][11]
4DMedical's CT:VQ™ receives FDA 510(k) clearance; First-and-only CT-based VQ technology
Prnewswire· 2025-09-04 10:00
Core Insights - 4DMedical has received FDA 510(k) clearance for CT:VQ™, the first non-contrast ventilation–perfusion imaging solution, and Medicare has confirmed reimbursement for this technology under Category III CPT codes, enhancing access to this imaging method nationwide [1][4]. Company Overview - 4DMedical is a global medical technology company focused on transforming respiratory care through advanced imaging and artificial intelligence, with patented technologies that enable quantitative ventilation and perfusion analysis from non-contrast chest CT scans [6]. Technology and Implementation - CT:VQ converts standard non-contrast chest CTs into quantitative lobar ventilation and perfusion maps, integrating seamlessly with existing radiology workflows and utilizing the installed base of approximately 14,500 CT scanners in the U.S. [3][4]. - The technology allows hospitals to perform high-resolution ventilation–perfusion studies without the need for new hardware or complex workflows, making it accessible to facilities without nuclear medicine capabilities [4]. Clinical Validation and Partnerships - More than one million nuclear V/Q scans are performed annually in the U.S., and 4DMedical's CT:VQ has undergone clinical validation through quantitative performance testing against SPECT and real-world studies across various lung conditions [5]. - Early clinical partners include Stanford University and Brooke Army Medical Center, which have presented initial findings at the 2025 American Thoracic Society meeting [5].
Perimeter Medical Imaging AI Announces Second Quarter 2025 Financial Results
Prnewswire· 2025-08-26 20:15
Core Insights - Perimeter Medical Imaging AI, Inc. reported strong financial results for Q2 2025, with revenues of approximately $506,000, representing a 105% increase compared to Q2 2024 [5][8] - The company is advancing its next-generation Perimeter B-Series device, which combines AI technology with OCT, and has shown promising results in clinical trials [5][14] - Perimeter continues to expand its market presence, with significant adoption of its Perimeter S-Series device and partnerships for future studies [5][4] Financial Performance - Q2 2025 revenue was approximately $506,000, up 105% from Q2 2024, with a gross margin of 70% [8] - Operating expenses for Q2 2025 were approximately $4.3 million, a 22% reduction from $5.5 million in Q2 2024, with expectations of a further 30% reduction starting in Q3 2025 [9] - The net loss for Q2 2025 was approximately $3.9 million, or $0.04 per share, compared to a net loss of $3.2 million, or $0.05 per share, in Q2 2024 [10] Product Development and Market Expansion - The Perimeter S-Series device has been utilized to image over 3,000 patients, with a 93% year-over-year increase in case volumes for Q2 2025 [5] - The company announced the launch of the OCT-Tissue Surveillance Registry to collect data for future product development [5] - Perimeter has entered into a Development Support Agreement with Intermountain Health to evaluate the potential value of its OCT technology [5] Capital Raising and Financial Position - Perimeter closed an offering of units, raising approximately $2.2 million in June 2025 and an additional $1.6 million in July 2025, totaling 17,849,468 units issued [4][6] - As of June 30, 2025, the company had approximately $1.4 million in cash, not including additional proceeds from the recent offering [11]
Positron Corporation Announces New Corporate Headquarters and Strategic Redomiciling to Delaware
GlobeNewswire News Room· 2025-08-22 13:15
Company Overview - Positron Corporation is a leader in molecular imaging technology and services, specializing in cardiac Positron Emission Tomography (PET) imaging, which is considered the gold standard in cardiac diagnostics [4][5]. - The company co-develops, manufactures, and sells advanced PET and PET-CT imaging systems and clinical services to nuclear medicine healthcare providers across North America [4]. Recent Developments - Positron has established a new corporate headquarters in the Buffalo-Niagara Falls region under a long-term lease, which will house corporate operations and serve as a product showroom and testing center [2]. - The new headquarters is expected to support Positron's accelerated growth initiatives, enhance customer engagement, and provide new operational capabilities for faster scaling of the Company's PET-CT imaging solutions nationwide [2]. Corporate Strategy - The Board of Directors has approved the redomiciling of the Company from Texas to Delaware, aimed at enhancing corporate governance and legal framework [3]. - This move is part of Positron's preparation to file a Form 10 registration statement with the U.S. Securities and Exchange Commission to become a fully reporting public company [3]. Product and Market Position - Positron's Attrius® PET and NeuSight PET-CT imaging systems provide substantial advantages that facilitate the adoption of cardiac PET and the growth of the nuclear imaging market [6]. - The company plans to introduce a state-of-the-art PET-CT 4D molecular imaging device, the Affinity PET-CT 4D 64-Slice, which will enhance the capabilities of nuclear cardiologists and meet the demands of the oncology imaging segment [6]. Commitment to Innovation - Positron is dedicated to expanding the cardiac and oncology PET modality by delivering advanced technology and value to imaging specialists [7]. - The company continues to advance its technology through collaboration with Shenyang Intelligent Neuclear Technology Co., a subsidiary of Neusoft Medical Systems [7].
Hyperfine, Inc. Reports Second Quarter 2025 Financial Results
Globenewswire· 2025-08-13 20:05
Core Insights - Hyperfine, Inc. announced its second quarter 2025 financial results and significant business updates, highlighting key advancements in its AI-powered portable MRI technology and strong financial performance [1][2]. Business Highlights - The company received FDA clearances for its Optive AI software and the next-generation Swoop® system, marking a pivotal moment in its technology development [6]. - A commercial rollout of the next-gen Swoop® system began shortly after FDA clearance, with initial shipments to U.S. hospitals [6]. - The completion of a pilot neurology office program was announced, paving the way for a full-scale commercial launch [6]. - Enrollment of the 100th patient in the NEURO PMR study was achieved, which evaluates the use of AI-powered portable MRI in neurology offices [6]. - The PRIME study was initiated at Yale School of Medicine to assess the impact of AI-driven portable MRI in emergency departments [6]. - New data presented at the 2025 Alzheimer's Association International Conference indicated that the Swoop® system showed 100% sensitivity in detecting mild and moderate ARIA-E in Alzheimer's patients undergoing Lecanemab therapy [6]. Financial Results - Revenues for Q2 2025 reached $2.7 million, a 26% increase compared to Q1 2025 [6]. - The company sold 8 commercial Swoop® systems in Q2 2025, up from 6 in Q1 2025 [6]. - Gross margin for Q2 2025 was $1.3 million, representing a gross margin of 49.3%, an increase of 800 basis points from Q1 2025 [6]. - Research and development expenses decreased to $4.5 million in Q2 2025 from $5.0 million in Q1 2025 [6]. - Sales, marketing, general, and administrative expenses also decreased to $6.4 million in Q2 2025 from $6.7 million in Q1 2025 [6]. - The net loss for Q2 2025 was $9.2 million, consistent with the net loss of $9.4 million in Q1 2025, equating to a net loss of $0.12 per share [6]. Financial Guidance - Management expects full-year 2025 revenue to be 10% to 20% higher than in 2024 [6]. - Cash burn for the full year 2025 is projected to be approximately $27 to $29 million, reflecting a 27% decline at the midpoint compared to 2024 [6].
Positron Corporation Secures Multi-Unit Sale of PET-CT Scanners to Leading Cardiology Group
Globenewswire· 2025-08-13 13:21
Core Insights - Positron Corporation has announced the sale of four PET-CT 64-slice scanners to a recognized nuclear cardiology group, highlighting the increasing demand for its advanced imaging solutions [1][2] - The company's PET-CT scanners are designed to enhance clinical outcomes and operational efficiency, featuring high-resolution imaging capabilities for both cardiac and oncology applications [3][4] Company Overview - Positron Corporation specializes in developing, manufacturing, and selling state-of-the-art PET and PET-CT imaging systems and clinical services to nuclear medicine healthcare providers across North America [6][7] - The company focuses on cardiac Positron Emission Tomography (PET) imaging, which is considered the gold standard in cardiac diagnostics, enabling accurate diagnosis of coronary artery disease [7] Product Features - Positron's PET-CT scanners include a 72 cm wide-bore gantry for patient comfort, high-sensitivity detectors to reduce radiation exposure, and a compact design, making them suitable for various clinical environments [3] - The advanced data acquisition capabilities of Positron's systems allow for fast, high-precision imaging, which enhances diagnostic confidence and expands the range of studies that can be performed [4] Market Position and Future Developments - Positron's unique market position and innovative technologies, such as the upcoming Affinity PET-CT 4D 64-Slice device, are expected to facilitate the adoption of cardiac PET and support growth in the nuclear imaging market [8] - The company is committed to expanding its offerings in cardiac and oncology PET modalities, aiming to deliver superior technology and value to imaging specialists [9]
Nanox Announces Second Quarter of 2025 Financial Results and Provides Business Update
Globenewswire· 2025-08-12 12:00
Core Insights - Nanox Imaging Ltd. reported a net loss of $14.7 million for Q2 2025, an increase from a net loss of $13.6 million in Q2 2024, primarily due to higher gross loss and finance expenses [4][15] - The company generated revenue of $3.0 million in Q2 2025, up from $2.7 million in Q2 2024, driven by teleradiology services, imaging systems sales, and AI solutions [5][8] - Nanox is on track to meet its year-end deployment target for the Nanox.ARC system, with a growing commercial pipeline and a breakthrough in the European market [3][18] Financial Performance - The gross loss for Q2 2025 was $3.2 million, with a gross loss margin of 107%, compared to a gross loss of $2.9 million and a margin of 106% in Q2 2024 [6][8] - Non-GAAP gross loss for Q2 2025 was $0.6 million, compared to $0.2 million in Q2 2024, indicating a worsening trend in operational efficiency [16][47] - Research and development expenses remained stable at $4.8 million for both Q2 2025 and Q2 2024, while sales and marketing expenses increased to $1.2 million from $0.8 million [12][13] Business Developments - The company has expanded its customer base, including major medical imaging center chains in the U.S., and is preparing for the first system shipment to Romania [8][3] - Nanox has notified the FDA of its intent to submit the TAP2D software module for a 2D view image output, enhancing the functionality of the Nanox.ARC systems [8] - A multi-year Volume Supply Agreement was established with Fabrinet to support scalable production of Nanox.ARC X [8] Liquidity and Capital Resources - As of June 30, 2025, the company had total cash and equivalents of $62.6 million, down from $83.5 million at the end of 2024, with a negative cash flow from operations of $19.6 million during the reported period [19][20] - The total assets decreased to $184.2 million from $210.0 million at the end of 2024, reflecting a decline in cash and marketable securities [30][20] Shareholder Information - The company had approximately 63.9 million shares outstanding as of June 30, 2025, a slight increase from 63.8 million shares at the end of 2024 [21][20] - The accumulated deficit increased to $401.7 million as of June 30, 2025, compared to $373.7 million at the end of 2024 [30][20]
Perimeter Announces Preliminary Unaudited Revenues for the 2025 Second Quarter; Reduces Operating Costs by ~30% as Company Focuses on Commercial Sales Pipeline and Growth Opportunities
Prnewswire· 2025-08-11 20:15
Core Viewpoint - Perimeter Medical Imaging AI, Inc. reported preliminary unaudited revenues for Q2-2025, indicating significant growth and management changes, alongside the establishment of an Industry Advisory Board to support future growth strategies [1][3][5]. Financial Performance - Total revenue for Q2-2025 is anticipated to be approximately $500,000, reflecting a year-over-year growth of about 100% [3]. - The company expects over 35% growth in procedures, leading to more than 50% growth in recurring revenue compared to Q1-2025, driven by increased utilization of the Perimeter S-Series system [3]. - For the six-month period ending June 30, 2025, total revenue is projected to be around $1.0 million, compared to $345,000 for the same period in 2024 [4]. - Gross margin is expected to be approximately 69% for Q2-2025 and 61% for the six-month period ending June 30, 2025 [4]. Management Changes - Abbey Goodman has been appointed as Vice President of Sales, bringing over 20 years of medical device sales experience [7]. - Paolo DiPasquale has been appointed as Vice President of Corporate Development, with over 17 years of experience in capital markets [8]. - Tom Boon has retired as Chief Operating Officer but will continue to contribute to the company’s strategy through the newly formed Industry Advisory Board [9]. Industry Advisory Board - The newly created Industry Advisory Board will be chaired by Diana Chan, who has over 20 years of experience in the medical device industry [10]. - The board aims to support the company's growth strategies across various products and markets [10][11]. Future Outlook - The company anticipates initial savings from cost control efforts, projecting a 30% reduction in total operating costs starting in Q3-2025 [5]. - The sales pipeline is expected to continue building, with the Premarket Approval application for the next-generation Perimeter B-Series under review with the FDA [5].