Nano-X Imaging (NNOX) Regulatory Efforts 'Remain Full-Speed Ahead' - Ladenburg Thalmann
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Ladenburg Thalmann analyst Jeffrey Cohen reiterated a Buy rating and $52.00 price target on Nano-X Imaging (NASDAQ: NNOX) following earnings. Cohen notes regulatory efforts remain full-speed ahead.
The analyst commented, "On the regulatory front, the company is progressing well and we anticipate 510(k) submissions for the Nanox.ARC and Nanox.CLOUD during 2021. OUS, the company has identified Europe, South Korea, Japan, and Israel as the next focuses subsequent to regulatory efforts in the US. Recall, the company received FDA 510(k) clearance on April 2, 2021, for the single-source system which is now referred to as the Nanox Cart X-Ray System. We would like to reiterate that this clearance provides the company with a clearer pathway towards regulatory submission and potential approval of the multisource system and cloud-based software platform which will be the company’s initial commercial product. Overall, we recognize several milestones ahead including FDA clearance, commercialization, and OUS expansion, all of which could provide additional potential upside."
Shares of Nano-X Imaging closed at $26.18 yesterday.
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