24th Sep 2019 11:24
(Alliance News) - Medical imaging technology firm Polarean Imaging PLC said Tuesday its interim loss deepened on lower revenue amid lower sales of its polariser technology.
For the six months ended June, pretax loss deepened to USD3.4 million from USD2.8 million the year prior. This was after revenue more than halved to USD399,639 from USD1.0 million the year before, primarily due to the timing of the sales of its polariser equipment.
"Our continued global engagement with the expanding base of clinicians and researchers, while extending our technology and discovering new techniques, reinforces our belief that pulmonary medicine patients and their doctors deserve the benefits of our unique three-dimensional, non-invasive, reproducible hyperpolarised xenon gas imaging technology," Polarean Chief Executive Officer Richard Hullihen said.
"We have now entered a crucial period for the company as the clinical trials near completion, with the top-line results of the clinical trials expected before the end of 2019," Hullihen added. "We remain confident and excited for the future of Polarean and are grateful to our shareholders and stakeholders for their continued support."
Shares in Polarean were 3.2% lower at 18.40 pence in London on Tuesday.
By Ahren Lester; [email protected]
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