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IQAI Shares Surged 5.84% After Demand for Its Brain Imaging Software Recovered

Updated: 17 Sep 2021

Shares of IQ-AI Ltd (LON: IQAI) surged 5.84% after reporting that sales and licensing deals of its imaging technology developed by its subsidiary, imaging Biometric had recovered following the pandemic-induced slump.

The company reported a surge in sales of its bundled brain imaging offer IB Clinic – Container edition, including its technologies IB Neuro, IB Delta T1 maps, IB DCE, and IB Diffusion.

IQ-AI noted that hospitals and other imaging institutions had embraced its bundles offer ever since it was made available, as it provides automated processing of images captured using other technologies.

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The automated image processing provided by IB’s software modules help ensure standardised care for brain tumour patients in hospitals and frees up neuroradiologists and MR technologists from manually processing images.

IQ-AI’s IB software modules have gained significant popularity as hospitals and other medical centres can now provide standardised image processing and unique care to patients suffering from brain tumours.

The company did not disclose the revenues generated from the recent sales and license renewals.

Michael Schmainda, IB’s CEO, said: “While the pandemic negatively impacted sales earlier this year, we are grateful for the rapid return of sales activity as well as trial evaluations of our software,”

Investors cheered the update from IQ-AI, as evidenced by the modest rally, which saw the company’s shares bounce off the crucial support level we had highlighted in a previous article.

Traders looking to open bullish positions in the company may find the current prices quite attractive, especially after today’s rally, which occurred at a support level that has been in place since November 2020.

*This is not investment advice.

IQAI share price.

IG chart of IQAI share price 17-09-2021

IQ-AI shares surged 5.84% to trade at 6.88p, rising from Thursday’s closing price of 6.50p.

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