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Micro-X Ltd. ( (AU:MX1) ) just unveiled an update.
Micro-X Ltd has announced a strategic realignment to focus on medical imaging, supported by a significant ARPA-H US Government contract providing up to $25 million for the development of a portable Full Body CT scanner. This pivot is expected to enhance Micro-X’s position in the medical imaging market, while the company also explores monetization opportunities for its security applications. The decision to discontinue Argus operations is expected to reduce costs and allow the company to concentrate resources on more promising ventures. Additionally, Micro-X is advancing its Rover Plus x-ray systems through evaluations with a major US hospital operator and a significant US Group Purchasing Organisation, which could lead to substantial sales opportunities.
More about Micro-X Ltd.
Micro-X Ltd is an Australian hi-tech company specializing in cold cathode x-ray technology for health and security markets globally. The company is focused on developing medical imaging solutions, particularly in the medical CT sector, and is engaged in strategic partnerships for security applications.
YTD Price Performance: -2.50%
Average Trading Volume: 463,196
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$45.53M
For detailed information about MX1 stock, go to TipRanks’ Stock Analysis page.
