Get the Latest Investment Ideas Delivered Straight to Your Inbox.

News Update

TICKERS: IME; IMEXF

Surgical Imaging Company Provides Update on COVID-19 Impact
News Update

Source:

Imagin Medical reported that its actions have mitigated the impact of the coronavirus on its business operations.

In a news release, surgical imaging company Imagin Medical Inc. (IME:CSE; IMEXF:OTCQB) provided an update on the actions that it has taken in its response to the global COVID-19 pandemic.

The company's President and CEO Jim Hutchens commented, "The sudden impact of the pandemic on the global economy has made it imperative for us to be flexible and quickly adapt our business to current conditions...We have implemented emergency measures to decrease non-essential expenses in all areas of our business in order to extend Imagin's cash runway. We have reduced salaries company-wide, put a freeze on employee travel, and switched to virtual development and operational meetings."

"At the same time, we remain deeply committed to advancing the i/Blue Imaging System toward commercialization," Hutchens added.

The company advised that it is paying close attention to the situation and is implementing recommendations received from local and national authorities. The firm noted that the health and safety of its team members and their communities is its highest priority.

"Imagin has acted decisively to lower expenses and improve overall cost structure. We will continue to adjust our operations to the evolving situation to ensure the company emerges from the pandemic in a healthy position to move forward," stated CEO Hutchens.

Imagin Medical is a surgical imaging company based in Vancouver, B.C., that is involved in developing new cancer visualization methods for use in minimally invasive surgical procedures. The firm's initial focus is targeted in the area of bladder cancer. The company stated that it believes "the i/Blue Imaging System, with its proprietary optics and light sensors, will greatly increase the efficiency and accuracy of detecting cancer for removal, helping to reduce recurrence rates."

The company advised that since the duration and full extent of the COVID-19 pandemic's effect on economies and global financial markets is not completely known, it is not presently possible to estimate the full impact of the situation on current or future financial results.

[NLINSERT]

Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Imagin Medical. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Imagin Medical. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Imagin Medical, a company mentioned in this article.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.




Learn More about Which Online Broker is Right for You?

Want to read more about Life Sciences Tools & Diagnostics investment ideas?
Get Our Streetwise Reports Life Sciences Report Newsletter Free and be the first to know!

A valid email address is required to subscribe