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Profound Medical ( (TSE:PRN) ) has shared an update.
Profound Medical Corp. has regained exclusive distribution rights for its TULSA-PRO® system in Canada from Knight Therapeutics Inc. The TULSA-PRO system is used for the ablation of prostate tissue in men with prostate cancer or benign prostatic hyperplasia. This strategic move allows Profound to leverage its North American commercial and clinical teams to expand the TULSA-PRO business in Canada. The company plans to use upcoming trial results to seek coverage from Canadian Provincial Health Insurance authorities, potentially increasing the procedure’s adoption across Canadian hospitals.
The most recent analyst rating on (TSE:PRN) stock is a Buy with a C$11.00 price target. To see the full list of analyst forecasts on Profound Medical stock, see the TSE:PRN Stock Forecast page.
Spark’s Take on TSE:PRN Stock
According to Spark, TipRanks’ AI Analyst, TSE:PRN is a Neutral.
Profound Medical’s stock score reflects the company’s strong revenue growth and strategic potential, balanced by operational inefficiencies and financial challenges. Technical indicators suggest caution due to bearish trends, while valuation remains a concern with negative earnings. Positive earnings call sentiment and future growth prospects are encouraging, yet immediate operational improvements are necessary for sustained success.
To see Spark’s full report on TSE:PRN stock, click here.
More about Profound Medical
Profound Medical Corp. is a commercial-stage medical device company that specializes in developing and marketing AI-powered, MRI-guided, incision-free therapies for the ablation of diseased tissue. The company is focused on commercializing TULSA-PRO®, a technology that combines real-time MRI, AI-enhanced planning, robotically-driven transurethral ultrasound, and closed-loop temperature feedback control, primarily for the treatment of prostate diseases.
Average Trading Volume: 18,323
Technical Sentiment Signal: Hold
Current Market Cap: C$251.5M
Learn more about PRN stock on TipRanks’ Stock Analysis page.