Perimeter Medical Imaging AI (PINK) Small Cap Growth Virtual Investor Conference 2025 summary

Key challenges in cancer surgery

• High re-operation rates in cancer surgeries due to difficulty in detecting residual cancer cells, with breast cancer re-operations at 23% and other cancers also facing double-digit rates.

• Re-operations increase patient risk, delay therapies, and cause emotional and financial strain for patients, hospitals, and payers.

• Current imaging technologies lack the resolution to detect microscopic cancer cells during surgery.

Technological solution and product evolution

• Optical coherence tomography (OCT) provides real-time, high-resolution imaging, enabling surgeons to assess margins intraoperatively.

• The S-Series device, FDA-cleared, offers real-time visualization and recurring revenue through single-use consumables.

• AI integration (B-Series) is under FDA review, aiming to highlight suspicious images, reduce surgeon workload, and lower barriers to adoption.

• Over 2 million images in the library strengthen AI performance and competitive protection.

Clinical and market impact

• Clinical trials met endpoints, showing improved detection and reduced re-operation rates, with some surgeons reporting rates dropping from 20% to 5%.

• Strong demand is surgeon-led, with positive feedback driving adoption and market expansion.

• Recurring revenue from consumables is the primary growth driver, with high gross margins (90%).