Israeli affordable imaging gear maker Nano-X Imaging Ltd. (NNOX +20.1%) has been a top gainer since its U.S. debut on August 21 at $18. Shares are currently exchanging hands at $58.13, up three-fold.
The company has a grand vision called 1x1x1 aimed at deploying enough systems (Nanox ARC) worldwide that every person on the planet has access to at least one medical imaging scan each year.
The feasibility of 1x1x1 is enabled by a low-cost x-ray source it has developed based on a digital microelectromechanical system semiconductor cathode, thereby avoiding the extreme heat required for the traditional method of generating electrons with a single filament paired with an analog cathode.
3D images can be uploaded to end-to-end imaging services software Nanox CLOUD where they can be reviewed, annotated, reported and billed.
It originally filed for FDA clearance for a single-source version of Nanox ARC in January. In March, the agency requested additional information (major deficiency letter). It expects to submit the requested information and test data this quarter. It expects to file an additional 510(k) application next quarter for a multiple-source version of the system which will be the one it commercializes. If all goes well, market launch will commence in H1 2021 with a goal of installing at least 1,000 devices by year-end. It forecasts an installed base of 15,000 systems by 2024 (prospectus, pages 1-2).
Two days ago, it announced a distribution deal for its equipment and testing services in Mexico.
https://seekingalpha.com/news/3613352-nano-x-adds-to-blistering-post-ipo-pace-up-20
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