Perimeter Medical Imaging AI Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Corporate Update Conference Call/Webcast Today at 5 pm ET
TORONTO and DALLAS, March 26, 2025 /PRNewswire/ - Perimeter Medical Imaging AI, Inc. (TSXV:PINK) (OTCQX: PYNKF) ("Perimeter" or the "Company"), a commercial-stage medical technology company, today reported financial results for its fourth quarter and full year ended December 31, 2024 and provided a corporate update. Unless specified otherwise, all amounts in this press release are expressed in U.S. dollars and are presented in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board.
Business Highlights
The Company continues to gain positive commercial market traction with its first U.S. Food and Drug Administration ("FDA")-cleared product, Perimeter S-Series OCT. In 2024, Perimeter achieved nine (9) new S-Series OCT system placements, compared to three (3) in 2023, and Q4-2024 revenues grew 303% over Q4-2023. In addition, the Company is advancing the development of its next-generation Perimeter B-Series OCT system, which combines proprietary AI technology with OCT, toward potential commercialization.
In November 2024, Perimeter reported topline results from the pivotal study designed to support its Premarket Approval ("PMA") application to the FDA for B-Series OCT with ImgAssist AI 2.0 ("Perimeter B-Series") for use during breast-conserving surgeries ("BCS") in the United States. The pivotal trial met its primary endpoint, achieving a statistically significant (p-value = 0.0050) reduction in patients with residual cancer during surgery. These results demonstrated super-superiority (lower bound of confidence interval for treatment effect greater than a predetermined minimal clinically meaningful difference) of the Perimeter B-Series' ability to aid surgeons in achieving clear surgical margins during surgery, potentially lowering the need for reoperation.
In February 2025, Perimeter announced CHRISTUS St. Vincent is the first hospital in New Mexico to use the Company's S-Series OCT technology to visualize tissue margins in the operating room. CHRISTUS St. Vincent offers the only Commission on Cancer (CoC) accredited breast cancer program in northern New Mexico.
Perimeter also announced that its common shares began trading on the OTCQX® Best Market under the symbol "PYNKF", effective with the open of business on February 27, 2025.
In March 2025, Perimeter announced that detailed results from the pivotal trial evaluating the use of Perimeter B-Series during BCS will be presented during the scientific session of the 26th Annual Meeting of the American Society of Breast Surgeons (ASBrS) taking place in Las Vegas, NV, April 30-May 4, 2025. The Company also plans to submit the detailed results for publication in one or more peer-reviewed journals.
Also in March 2025, Perimeter announced further commercial expansion, with Covenant Health Fort Sanders Regional becoming the first hospital in the state of Tennessee to use the Company's S-Series OCT technology to visualize tissue margins in the operating room.
Last week, Perimeter announced the submission of a PMA application to the FDA for the Company's Perimeter B-Series for use during BCS in the United States. The ...
