DIAGNOS Corporate Update Affirms Upside PotentialThe following is from an article posted this pm on the home page of CEO dot ca, hopelully it attracts some new blood, I think we have some serious solid diamond hands as the DIAGNOS story develops this 2022, there is already high insider ownership (~40% of the share outstanding). Lots of irons in the fire for DIAGNOS, this could be at $1/share in a heartbeat imo with the right news. Anyways, here is copy (reposted with consent from the author):
DIAGNOS Corporate Update Affirms Upside Potential
DIAGNOS Inc. (TSX-V: ADK) (OTCQB: DGNOF) (Frankfurt: 4D4) provided a Corporate Update on major activities from 2021 operations, supplemented with insight on some key current ongoing activities with major catalyst potential in 2022. The full Corporate Update may be viewed at the following URL:
https://www.globenewswire.com/news-release/2022/01/26/2373543/0/en/DIAGNOS-Provides-Corporate-Update-for-2021-and-Outlook-for-2022.html
The Company described its accomplishments in 2021 as being “truly transformational and have positioned DIAGNOS for success in 2022.” The Company further stated “Our team at DIAGNOS is committed to the task at hand; delivering growth and value for all shareholders. The Company anticipates being cashflow positive by the end of June 2022.”
With all the activity DIAGNOS has on the go it appears a low-risk high-reward proposition. The share price is apt to experience appreciation as roll-outs on existing contracts occur as planned, and potentially dramatically appreciate as additional news catalysts come forth. DIAGNOS only has 69.12 million shares outstanding, there are very little warrants left, and insiders & family office own ~40% of the outstanding shares. DIAGNOS has no debt, money in the bank, an untapped C$2 million government credit line if needed, has a high-margin SaaS model (it only costs ~4 cents to process an image that it charges between ~C$5 - $10), has numerous new business prospects in discussion now, and is expected to see rapid revenue growth. In-fact, the independent investment bank / advisory / equity research firm Echelon Capital Markets recently reiterated the Firm’s current rating of 'Top Pick' for Q122, 'Speculative BUY' with a near-term (12 month) target price per common share of DIAGNOS of $1.55 Canadian (or in US dollars: USD$1.23 or in Euros: €1.08). The Analyst’s January-2022 update report may be viewed at https://sectornewswire.com/Echelon-Diagnos-Jan-4-2022.pdf online. Important to note is the analyst share price target is based on the DIAGNOS’ CARA Platform that is currently in use and does not include progress on the Stroke Predictor application that is the subject of recent clinical trial news, obviously a higher share price target is justified if success in the now ongoing Stroke Predictor clinical trial is demonstrated.
DIAGNOS Inc. is a Canadian-based medical software technology company that pioneered 'Computer Assisted Retinal Analysis' (CARA), which automatically analyses the retina (located at the back of the eye) using machine learning / artificial intelligence (AI) technology to identify damage caused by diabetes and cardiovascular issues. For the last seven years DIAGNOS has commercially advanced its first large-scale application of the technology, primarily aimed at preventing diabetic retinopathy. CARA technology is now accelerating in adoption within the eyecare industry, and medical diagnostic industry – many have described DIAGNOS as now being at an inflection-point in terms of its technology’s adoption curve. The CARA platform also is expected to commercially launch several other large-scale applications, including an application for hypertensive retinopathy (launch imminent), and in time one for stroke prediction (undergoing clinical trials).
The following is a synopsis of key take-away points from DIAGNOS in its Corporate January 26, 2022 “Update for 2021 and Outlook for 2022”:
On the stroke predictor clinical trial front:
The Company specifically stated “DIAGNOS’ clinical trial is proceeding well.” “December 06, 2021, DIAGNOS began a clinical trial study with CommonSpirit Health Research Institute, Chattanooga Center for Neurologic Research LLC and conducted at the CommonSpirit Hospital in Chattanooga, to confirm early Proof-of-Concept results that showed a strong potential in the early detection of stroke through the inspection and analysis of the retina.”
On the EssilorLuxottica MoU/negotiations front:
The Company stated “Discussions are ongoing.” EssilorLuxottica (Euronext Paris Stock exchange: EL), the largest eyecare company in the world, with EUR$16+ Billion in revenue/annum and ~18,000 locations, signed a MoU with DIAGNOS in August-2021 and is in active negotiations on terms -- this alone has massive latent catalyst potential for upside share price revaluation of ADK.V as details emerge. The MoU is with the Instruments division of Essilor International, a subsidiary of EssilorLuxottica.
The Corporate Update also commented on several noteworthy deals in 2021 and ongoing 2022 roll-outs…
The three year renewal contract with Optina Diagnostics:
“Optina uses DIAGNOS’ Cloud platform to upload images generated by the Optina-4CTM hyperspectral camera to be used with their awAIrTM Cerebral Amyloid Status test (for Research Use Only). Using the DIAGNOS Cloud platform, the Optina’s proprietary retinal images are processed, securely stored, and available to be shared and reviewed by healthcare professionals and clinics in various locations around the world. Optina benefits from the high throughput of the DIAGNOS Cloud platform as well as the ease of use of the teleophthalmology platform currently used by doctors and other medical professionals.”
The opening of five screening clinics at various locations of Magrabi Hospital & centers located in Riyadh:
“Magrabi operates in 30 locations in the Kingdom of Saudi Arabia, United Arab Emirates, Qatar, Saltanat of Oman, Yemen and Egypt.”
The signing of a multi-year agreement in June 2021 with IRIS The Visual Group (1990) Inc. (“IRIS”):
“…created a world leading platform launch for the deployment and enhancement of Artificial Intelligence (“AI”) based tests, screening for vascular changes in the retina for optometry clinics. In addition, DIAGNOS has entered into a 7-year agreement with New Look Vision Group Inc. (“New Look Vision”), IRIS’ parent company. The New Look Vision network totals 406 locations operating across North America. Installations are ongoing.”
DIAGNOS announced several agreements in Latin America:
“Juarez Health & Medical Cluster, Cielo Vista Eye Clinics and Hospital Oftalmologico Buena Vista Sinaloa in Mexico. Grupo Opticalia in its establishment and consolidation in Colombia, COFIDES will help the Company again with its expansion in Mexico.”
On the development front:
DIAGNOS stated, “Multiple new applications involving AI-enhanced retinal imaging to address a growing need for general purpose pathology identification are under development. In addition to localized retinal pathology, such as macular degeneration and glaucoma, certain retinal pathologies are also known indicators of various systemic disorders, including cardiovascular and diabetic diseases.”
The following URLs have been identified for further DD on DIAGNOS Inc.:
Company website: https://www.diagnos.ca
SEDAR:
https://sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00003037
Insider activity:
https://www.canadianinsider.com/node/7?menu_tickersearch=ADK+%7C+Diagnos
Latest independent Analyst coverage:
https://sectornewswire.com/Echelon-Diagnos-Jan-4-2022.pdf
Recent Technology Journal Review:
https://technologymarketwatch.com/adk.htm Content above may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned.