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NANO-X IMAGING LTD (Nasdaq: NNOX) is at the forefront of revolutionizing medical imaging through its cutting-edge nanotechnology. The company is developing the next generation of X-ray emitters that aim to bring X-ray imaging into the digital era. Its primary offering, the Nanox System, is a combination of hardware and software designed to enhance and modernize medical imaging.
The key component of this system is the Nanox.ARC, a digital X-ray source that incorporates novel nanotechnology to create detailed 3D images. Accompanying this is the Nanox.CLOUD, a cloud-based software platform that enables the delivery of medical screening as a service.
Nano X Imaging Ltd has made significant strides with its Nanox.AI subsidiary, which focuses on deep-learning medical imaging analytics. This arm of the company leverages AI technology to extract valuable clinical insights from routine medical imaging, facilitating early detection and preventative care pathways for patients globally.
One of the latest achievements includes a remarkable study conducted in partnership with the NHS under the Falls and Fragility Fracture Audit Programme (FFFAP). The study revealed a substantial increase in patient identification for spine fractures using the Nanox.AI algorithm, surpassing the national average by up to sixfold. This success highlights the potential of AI-powered solutions in early diagnosis and improved patient care.
Moreover, Nanox has been actively involved in enhancing its AI capabilities with the development of HealthVCF and its updated version HealthOST, both of which received FDA 510(K) clearance. These AI tools focus on highlighting low bone mineral density and measuring the severity of vertebral compression fractures, thus playing a crucial role in osteoporosis management.
The company also offers Second Opinions, an online medical consultation service through its subsidiary USARAD Holdings INC. This platform integrates Nanox.AI's FDA-cleared AI solutions, allowing patients to gain second opinions from medical experts, promoting early detection and preventive management of chronic conditions.
By providing accessible and affordable diagnostic tools, Nanox's vision is to improve early detection and treatment, thereby enhancing global health outcomes and saving lives. The company's comprehensive ecosystem—including Nanox.ARC, Nanox.AI, Nanox.CLOUD, and USARAD's teleradiology services—creates an innovative network connecting medical imaging solutions from scan to diagnosis.
Nanox (NASDAQ: NNOX) has received FDA 510(k) clearance for its Nanox.ARC imaging system for general use, including pulmonary, intra-abdominal, and paranasal sinus indications, expanding from its previous musculoskeletal system clearance. The system features proprietary digital X-ray technology with cold cathode tomosynthesis, providing enhanced 3D visualization compared to traditional 2D X-rays.
The Nanox.ARC is currently deployed across seven U.S. states, with dozens of units in various stages of deployment worldwide. The system is designed for professional healthcare facilities and operated by trained medical professionals. It offers potential benefits including reduced patient wait times, faster diagnosis, and improved workflow integration, while requiring less space and power than traditional X-ray machines.
Nanox (NASDAQ: NNOX) reported Q3 2024 financial results with revenue of $3.0 million, up from $2.5 million in Q3 2023. The company posted a net loss of $13.6 million, improved from $21.4 million loss year-over-year. Teleradiology services generated $2.6 million in revenue with a 13% gross profit margin. The company continues expanding US sales teams and deploying units globally, while progressing with FDA applications for full body scanning and CE Mark designation. Cash position stands at $57.1 million as of September 30, 2024, down from $82.8 million at end of 2023.
Nanox (NASDAQ: NNOX) has announced it will release its third quarter 2024 financial results before market open on Thursday, November 21, 2024. The company will host a conference call at 8:30 a.m. ET, featuring CEO and Acting Chairman Erez Meltzer and CFO Ran Daniel, to discuss the results and provide a business update. Interested parties can access the call through registration and a live webcast, which will be available on the company's Investor Relations website.
Nanox AI, a subsidiary of NANO-X IMAGING (NNOX), has received a Special Mention in TIME's Best Inventions of 2024 list for its innovative medical imaging analytics solutions. The company's FDA-cleared AI technology analyzes routine CT scans to detect early signs of chronic conditions in cardiac, liver, and bone health. Their solutions include HealthCCSng for coronary artery calcification measurement, HealthOST for spine analysis, and HealthFLD for liver evaluation, all aimed at identifying previously undetected asymptomatic conditions to promote preventive care management.
Nanox (Nasdaq: NNOX), an innovative medical imaging technology company, has announced its participation in the Cantor Fitzgerald Global Healthcare Conference in September 2024. This investor conference provides an opportunity for Nanox management to showcase their cutting-edge medical imaging solutions and engage with potential investors and industry professionals.
The participation in this prestigious healthcare conference underscores Nanox's commitment to expanding its market presence and fostering relationships within the investment community. As a company at the forefront of medical imaging technology, Nanox's attendance at the conference may offer valuable insights into their latest developments, market strategies, and future growth prospects.
Nanox (NASDAQ: NNOX) has received FDA 510(k) clearance for HealthCCSng V2.0, an upgraded version of its AI-powered cardiac solution. This marks the second FDA clearance for the HealthCCSng product line. The new version introduces:
1. A 'zero calcium' category for coronary artery calcium (CAC) assessment
2. Numerical calcium scoring alongside CAC detection categories
3. Customizable CAC category configurations
HealthCCSng V2.0 analyzes non-gated, non-contrast CT scans to automatically measure CAC in patients aged 30-85. It aims to leverage routine CT scans for early detection of coronary artery disease risk. The solution has already been integrated into several healthcare systems, improving patient risk assessment and driving revenue to cardiology departments.
Nanox (NASDAQ: NNOX) announced Q2 2024 financial results and provided a business update. Key highlights include:
- Revenue of $2.7 million, up from $2.6 million in Q2 2023
- Net loss of $13.6 million, decreased from $17.4 million in Q2 2023
- Submitted new 510k application to FDA for expanded Nanox.ARC indications
- Advanced US deployment of Nanox.ARC, with systems in seven states
- Nanox.AI received FDA 510K clearance for HealthCCSng V2.0
The company reported a gross loss of $2.9 million (106% margin) on a GAAP basis. Non-GAAP gross loss was $0.2 million (9% margin). Nanox ended the quarter with $64.2 million in cash, cash equivalents, restricted deposits, and marketable securities.
Nanox (NASDAQ: NNOX), an innovative medical imaging technology company, has announced its plans to report second quarter 2024 financial results on August 20, 2024, before the market opens. The company will host a conference call and webcast at 8:30 a.m. ET on the same day to discuss the results and provide a business update. Erez Meltzer, CEO and Acting Chairman, and Ran Daniel, CFO, will lead the call. Interested parties can register for the conference call and access the live webcast through links provided by the company. An archived replay of the webcast will be available on the Nanox website after the call concludes.
Nanox.AI's Cardiac Solution (HealthCCSng) was featured in multiple scientific presentations at the 2024 SCCT Annual Meeting, showcasing its potential in early detection and preventive care of cardiovascular disease. Key findings include:
1. Brigham & Women's Hospital study: HealthCCSng detected Coronary Artery Calcification (CAC) in over 50% of immune-mediated inflammatory disease patients, associated with increased mortality and cardiovascular risks.
2. Corewell Health implementation: HealthCCSng analyzed 32,650 chest CT scans, identifying 3,721 new patients with medium/high CAC, a 13-fold increase from previous years.
3. Jefferson Einstein Hospital study: HealthCCSng identified 757 patients with high CAC levels, leading to 308 follow-up visits and generating up to $130,000 in revenue.
These studies demonstrate HealthCCSng's clinical and economic benefits in improving cardiovascular risk assessment and patient care.
Nanox Imaging (Nasdaq: NNOX) announced that data from five studies supporting its AI Cardiac Solution, HealthCCSng, will be presented at the 19th Annual Meeting of the Society of Cardiovascular Computed Tomography (SCCT) from July 18-21 in Washington, D.C.
These studies are by institutions including Brigham & Women’s Hospital, Einstein Jefferson Medical Center, Corewell Health, Massachusetts General Hospital, and Beilinson Medical Center. HealthCCSng uses routine chest CT scans to quantify coronary artery calcium (CAC) levels, a strong predictor of future cardiac events. Patients with high CAC are up to 6x more likely to suffer from cardiac events.
Key presentations include: 'The Frequency, Prevalence, And Outcomes of Incidentally Detected Coronary Artery Calcium Using AI Analysis' by Brittany Weber (July 20, 10:30 AM), and 'Optimizing Preventive Cardiology: Harnessing AI for Early Detection of CAD' by Dr. Chiduzie Madubata (July 19, 9:30 AM - 10:15 AM).
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