I'm surprised there's no thread on 4D Medical. Ticker is 4DX on the ASX
https://4dmedical.com/
They're still considered "speculative" but have an impressive BOD, a few FDA-approved devices, a MOU with Philips Healthcare contracts with the VA to provide lung imaging for "Burn Pit" victims in the US. They recently purchased IMBIO which uses AI to bring lung and heart imaging.
https://www.imbio.com/
They are currently priced at 69 cents per share. How long will they continue flying under the radar?
Proforma 24 revenue $3.1 mil.
Not a lot for a company with a market cap of $269.5 mil.
They are burning cash like its still 2021. They have about 18 months of cash left (and thats not accounting for the Imbio purchase which is also cash burning for the next 12 months), which means a cap raise is coming sometime in the next 12 months. Until the path to cashflow positivity/profitability becomes clearer, it will probably languish.
Many of these small biotechs simply cannot get to a position where they are profitable, despite having a good product and a lot of sales. VHT is a good example - they are better off being tucked inside a large medical company rather than trying to do it all on their own and burning shareholder cash in the process.
With the biotechs you either play them for a punt on trial results that make them the 1 in 100 to successfully develop a drug or approved medical device, or you play them at the commercialisation stage where its apparent they can actually make money and be self sustaining. The period inbetween can be treacherous - have a look at the PNV chart - as the share price adjusts from "pie in the sky" valuation to one based on actual earnings.