Q: In your Feb 7 response to Jerry on PRN after referring to recent strong momentum you say “markets obviously think there is potential here, but the company now needs to start delivering on that potential.”
I would argue that PRN started delivering on the potential long ago – the company received FDA approval Aug 2019 after a successful clinical trial; PRN successfully listed on NASDAQ last fall; the company announced in early January this year a deal and partnership with RadNet, the largest network of outpatient imaging centres in the US; and recently PRN raised US$ 40 million in an equity financing and retired all bank debt ahead of schedule. PRN is now well positioned to scale the business without further dilution.
I recognize there remains commercialization risk and there is reimbursement risk and revenues are essentially non-existent at this early stage but what we have here is a very experienced very competent management team that has done it before with NOVADAQ. Significantly, the CEO Arun and his team are not doing this because they need to money. They will not rush it they will do it right. I think you have mentioned in the past that this is one of the best small cap situations to invest in – assuming you can deal with the volatility and risk.
I would argue that PRN started delivering on the potential long ago – the company received FDA approval Aug 2019 after a successful clinical trial; PRN successfully listed on NASDAQ last fall; the company announced in early January this year a deal and partnership with RadNet, the largest network of outpatient imaging centres in the US; and recently PRN raised US$ 40 million in an equity financing and retired all bank debt ahead of schedule. PRN is now well positioned to scale the business without further dilution.
I recognize there remains commercialization risk and there is reimbursement risk and revenues are essentially non-existent at this early stage but what we have here is a very experienced very competent management team that has done it before with NOVADAQ. Significantly, the CEO Arun and his team are not doing this because they need to money. They will not rush it they will do it right. I think you have mentioned in the past that this is one of the best small cap situations to invest in – assuming you can deal with the volatility and risk.
