Encode Ideas, L.P. Announces the Initiation of Research Coverage on Perimeter Medical Imaging, AI


Dover, Delaware–(Newsfile Corp. – October 21, 2020) – Encode Ideas, L.P. Initiates Research on Perimeter Medical Imaging, AI (TSXV: PINK) (FSE: 4PC). The full research publication is available here and available on our website at www.encodelp.com. A summary follows:

Encode Ideas, L.P. is initiating coverage on Perimeter Medical Imaging AI, Inc. as a High Conviction Investment Idea. Perimeter’s Optical Tissue Imaging System, or OTIS, is an FDA 510(k) cleared optical coherence technology (OCT) that can rapidly image large tissue surfaces, such as an excised tumor, at 10-100x the resolution of ultrasound or MRI. OTIS can fit seamlessly within a surgical suite, allowing for intraoperative tumor tissue imaging, in order to determine if positive margins remain, and additional tissue should be removed. Initially, Perimeter will be focused on breast conservation surgery (BCS), also known as lumpectomy, where it is estimated that between 20-30% of women will require a repeat surgery due to positive margins being found via histology 2-5 days after the initial surgery. Currently, there are limited options for intraoperative tissue assessment, and those available are expensive, inconvenient, and cannot be scaled easily. OTIS has the potential to become part of the BCS standard-of-care, which we estimate to be an annual addressable market of $400mm in the U.S. BCS is the near-term commercial focus for Perimeter, but, once installed, we expect surgeons will utilize OTIS in other intraoperative settings. When considering the platform potential of OTIS across other intraoperative indications, the total annual addressable U.S. market grows to >$1b.

Encode Ideas, L.P. is a healthcare focused research firm, founded in 2019, providing institutional quality research and actionable investment and trade ideas. We undertake an intensive research process to identify healthcare companies that are mispriced or underfollowed. This process lends us towards covering predominately micro / small cap securities, where we feel some of the most intriguing risk reward opportunities exist.


Full disclosures can be found at the end of the report, page 23, and on the website under the disclosure section. The securities of the issuer(s) discussed in this press release may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This research does not constitute a personal trading recommendation or take into account the particular investment objectives, financial situation or needs of an individual reader of this report and does not provide all of the pertinent information to make an investment decision. Neither Encode Ideas, L.P., nor its employees and affiliates are registered as investment advisors or broker/dealers in any jurisdiction whatsoever. The information contained herein is based on sources that Encode Ideas, L.P. believes to be reliable but is not guaranteed to be accurate and does not purport to be a complete statement or summary of the available data. Encode Ideas, LP has been retained by Perimeter Medical Imaging AI, Inc. to provide investor awareness and research coverage. This compensation may constitute a conflict of interest as to Encode Ideas LP’s ability to remain objective in our communication regarding the profiled company. Readers should always do their own due diligence and consult a financial professional.

Encode Ideas, L.P.

email: ideas@encodelp.com
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