'Rover' mobile medical x-ray commercialisation potential!
Just noticed MX1 +22.45% this morning on big volume..
'Rover' Mobile Medical X-Ray Receives US FDA 510(K) Clearance for it's cold cathode x-ray technology for global health & security markets - gets green light for commercialisation of 'Rover'
DYOR as always Cheers tela
Just read the yearly update for Quickstep (QHL) who manufactures the carbon fibre chassis for the MicroX portable x-ray device (for MX1). This is the quote from their announcement..
"High-rate production continues for the Micro-X Nano lightweight x-ray machine 'Rover', which is being used by the medical profession in the fight against Covid-19, and current contracted deliveries will continue through the
first half of FY21."
MX1 did a recent cap. raise at 14c in May '20 to raise $16M so have plenty of cash to splurge towards commercialisation of 'Rover' in the near term.
DYOR as always.. Cheers tela
Micro-X said in a statement it has been in active discussion with the US Army Material Agency which has been identified as the world’s largest potential customer for the Rover. FDA approval now allows sales in the US.
The Adelaide manufacturer has chosen a direct marketing route which will allow greater control of sales and higher margins than would be possible using a distributor.
Highlights of strong MX1 Quarterly:
• FDA 510(k) Clearance of the Rover received in July 2020 - commercially available in the United States
• $2.1M of Nano units built and shipped to customers during the Quarter
• Significant increase in Nano production and inventory to meet further COVID-19 demand
• Removed backlog of Nano orders – now able to meet < 4 week delivery times
• Nano Orders of $0.2M for July to date
• Submission for $14.6M of funding to develop Stroke Diagnostic Imaging technology
• $15m Capital raise completed – including new institutional investors
• Closing cash balance of $18.3M, expected to fund the company into 2022
Plenty of positive/upbeat forecasts with various projects in the pipeline/progressing during 2020/21
DYOR as always
MX1 @17c +6.25% with 'buy depth' building up nicely for a move higher methinks :)
118 buyers for 4,213,986 units vs 63 sellers for 2,444,139 units
MX1 +9.38% thus far.. looking real good!
Noticed a "$350,000 cross trade on MX1 so worth keeping an eye on" as potential bullish signal! +9.38% yesterday...
Conference call podcast https://micro-x.com/investor-call-recording-2/
Scott Power senior analyst at Morgans Financial had this to say (quoted per below):
Micro-X (MX1) stock rose after it got the anticipated FDA approval for its mini-Xray machine the Rover.
What was surprising about this is that it happened in a scant five weeks.
“That kind of turnaround from the FDA is very rare, which shows the significance of the technology and reflects the fact that it’s at the forefront with trying to help with this health crisis,” Power said.
“It’s hard to know why it was pushed through so quickly but the military applications — the US military want to buy some — the humanitarian applications are likely to have played a part.”
Should be a good week ahead for MX1 as chart shaping up nicely to consolidate/mover higher imo
market depth looking healthier/bullish
89 buyers for 3,578,620 units vs 61 sellers for 2,085,207 units
Cheers tela :)
MX1 shaping up nicely +5.88%
112 buyers for 4,126,601 units vs 53 sellers for 1,989,778 units
Here we go.. it's game on @18.5c +8.82% :)
Someone wants in.. cross trade of 1M @18c! slowly but surely this one should fire up to crack past 20c soon imo
dyor as always
Timeline of upcoming projects as listed on micro-x website:
1/. Sept. 2020: The Generator.
2/. Soon 2020: US Orders for Rover.
3/. CE approval (Oz and UK) for Rover.
4/. Oct. 2020: MBI Prototype.
5/. Dec. 2020: CT Funding decision of $14M.
Given the fast-tracking of the Rover 510K approval in the US it's reasonable to speculate that 'potential sales' are just around the corner so to speak imo