OptiScan Imaging Limited (ASX: OIL) is into the research and development of a High Magnification Endoscope for clinical diagnosis and research; and the continuation of sales of the research grade benchtop confocal microscope system within Australia.
The company, today on 14 March 2019, has come up with its presentation. In the presentation, the company has stated that it is making strong footholds in the development and manufacturing of Clinical and Translational endomicroscopy.The company has started with the product development and modifications to the FIVE2 (ViewnVivo) to enable oral, cervical, breast and other human clinical applications.Prototype re- processable sheaths have been developed and will undergo third-party validation testing.
Nearing completion of Stage 1 of Breast Cancer Surgical Margin Assessment Trial. Following receipt of ethics approval, Stage 2 has commenced with imaging of the first two fresh mastectomy tissue specimens with PARPi-FL imaging agent.
The company will also focus on leveraging current and previous regulatory approvals in humans for devices with embedded OptiScantechnology including ZEISS CONVIVO™ (neurosurgery) and Pentax ISC-1000 (gastroenterology endoscopy).
Initial exploration of use of FIVE2 (ViewnVivo) in the Pathology Lab where standard “frozen section” is still the standard of care in intraoperative pathological assessment (e.g. sentinel node for breast cancer, head and neck resection margins, parathyroid confirmation, thyroid cancer, omental nodules, ovary, lung resection -malignant vs benign).
The management feels that there are immense opportunities for Improved Patient Outcomes with OptiScanConfocal Laser Endomicroscopy (CLE). This is evidenced by the fact that Cervical cancer is the fourth most common cancer among women globally. In Australia, there were 930 new cases in 2018 and 258 deaths, and in the USA for 2019 it is estimated to be 13,170 new cases and 4250 deaths.
As regards the outlook, the company is at work with Sloan Kettering Cancer institute to advance innovative ways for early diagnostics, screening and intraoperative assessment & evaluation in oral, oesophageal and cervical applications. A clinical version of the FIVE2 (ViewnVivo) has been developed with a sterilisable probe sheath.A collaboration agreement has been signed for discussions regarding a drug/device combination of a cancer-specific optical imaging agent (PARPi-FL) and OptiScanCLE. Stage 2 of the OptiScanBreast Cancer Surgical Margin trial has commenced including using PARPi-FL.
On the price-performance front, the stock has posted the YTD return of 2.08%. The company also has posted returns of -2.0% & -18.33% over the past three & one-month period respectively. At the time of writing (14 March 2019, AEST 04:00 PM), the stock of the company is trading at a price of $0.050, up 2.041% during the day’s trade with a market capitalisation of ~$ 21.20 Mn. The stock opened the day at $ 0.048, reached the day’s high of $ 0.050 and touched the day’s low of $ 0.048, with an intra-day volume of ~ 202,144. It had a 52-week high price of $ 0.084 and a 52 weeks low price of $ 0.044, with an average volume of, 97,515 approximately.
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