Polarean Imaging (GB:POLX) has released an update.
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Polarean Imaging PLC reports substantial growth with H1 2024 revenues reaching US$1.1m, a tenfold increase from the previous year, alongside a decrease in operating expenses from US$7.7m to US$4.6m. The company has secured significant capital, raising US$12.6m to extend its cash runway until Q1 2026, and is experiencing growing commercial interest with new orders for its advanced lung MRI technology, including its FDA-approved hyperpolarised Xenon MRI contrast agent, XENOVIEW™. Looking ahead, Polarean has raised its 2024 revenue guidance to between US$2.5m and US$3.0m, attributing the positive outlook to its successful sales strategy and potential expansion of XENOVIEW™ usage to pediatric patients.
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