I feel like this preso is for a cap raise...
$1.6m in the bank; at least 12 months before significant revenue, and based on last quarterly, they will burn this in (a realisitc) 2 quarters.
Not many people seem to post for and against on here. The more research I've done recently, the more I am confident in my decision to divest. That being said, they could rabbit hat and explode. I've definitely been wrong before. Some comparison though...just as a counter point / food for thought, and maybe it will generate some discussion.
Cheers
NF
Trigger warning - long post.
TL;DR - there are multiple direct competitors to EIQ, and several now appear to be more advanced. Summary
While EIQ is making significant strides in AI-based diagnostics for aortic stenosis, other companies like iCardio.ai, Eko, and Anumana are further along in terms of regulatory approvals and clinical adoption. These competitors have already achieved key milestones that position them ahead of EIQ in the journey toward full commercialization and widespread clinical use.
Three DirectCompetitors to EIQ
Here are some companies that are developing AI-based diagnostic tools for aortic stenosis, along with their current status relative to EIQ:
iCardio.ai
Technology: iCardio.ai focuses on machine learning and deep learning algorithms for the analysis of echocardiographic images. They have developed a system for detecting moderate and severe aortic stenosis using handheld ultrasound devices.
Status: They have received FDA Breakthrough Device Designation, which accelerates their path toward full FDA clearance and commercialization. This designation recognizes the potential of their technology to fill critical diagnostic gaps and improve patient outcomes. iCardio.ai is also in partnership with Butterfly Network to expand their technology's reach in primary care and underserved populations.
Eko
Technology: Eko employs AI to assist in the detection of aortic stenosis through digital stethoscopes and other devices. Their AI solution has demonstrated high sensitivity and specificity in clinical studies.
Status: Eko's AI-driven stethoscope technology is already being used in clinical settings, providing an advanced tool for early detection of heart conditions, including aortic stenosis. Their AI tools are integrated into clinical workflows, enabling broader adoption and use.
Anumana (Mayo Clinic)
Technology: Anumana, a company formed by Mayo Clinic, uses AI algorithms to detect various cardiovascular conditions, including aortic stenosis. They leverage a vast dataset from Mayo Clinic to train their models.
Status: Anumana is developing a range of AI-based diagnostic tools and has made significant progress in early detection technologies for heart diseases. They are actively integrating their algorithms into healthcare settings to improve early diagnosis and patient outcomes.
Comparisonof (3) Competitors to EIQ
RegulatoryStatus
EIQ: Submitted FDA application for their AI phenotyper for aortic stenosis in May 2024. Pending clearance.
iCardio.ai: Received FDA Breakthrough Device Designation, a step ahead of EIQ in the regulatory process.
Eko: Already integrated and used in clinical practice, with high sensitivity and specificity demonstrated in studies.
Anumana: Actively developing and integrating AI algorithms with a strong clinical validation background from Mayo Clinic.
Clinical Use and Adoption
EIQ: Currently conducting clinical trials and studies, with a focus on validating their technology before widespread commercialization.
iCardio.ai: Poised for broader use following their FDA Breakthrough Designation and partnerships with major healthcare providers.
Eko: Widely used in clinical settings, providing immediate diagnostic support for aortic stenosis and other conditions.
Anumana: Integrating AI-driven tools into healthcare systems to enhance early detection of cardiovascular diseases.
Market Penetration and Commercial Partnerships
EIQ: Still developing commercial partnerships and working towards securing reimbursement codes.
iCardio.ai: Engaging in partnerships to expand the reach of their technology, particularly in primary care and underserved areas.
Eko: Established in the market with active use in healthcare, leveraging existing clinical networks.
Anumana: Leveraging Mayo Clinic's extensive patient data and clinical expertise to push forward AI diagnostic tools.
(20min delay)