MRI Interventions: Growth Still Strong 4 Months After IPO

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In recent months, MRI Interventions (MRIC.OB) has been making headway - and headlines - with their proprietary MRI imaging technology for use in neurological diseases. Their marketed ClearPoint system allows doctors a real-time view of intracranial procedures that previously required complicated, time-consuming invasive techniques. But more important for investors, the company went public just earlier this year on the OTC markets and has made notable gains in a short time period. Since debuting in May of this year, share price has more than doubled from a $1 initial price offering. And unlike many overbought biotech IPOs that shortly thereafter plummet on unrealized dreams, MRIC has made steady gains as the company's technology finds footing in the marketplace. Just last week, First Analysis Securities initiated coverage of MRIC with a Buy rating and a twelve-month $4 target price. Here are some of the company's most recent highlights.

On August 14th, MRI Interventions announced that the ClearPoint system is being used in a clinical trial to treat pediatric brain cancer at the Memorial Sloan-Kettering Cancer Center. In the trial, a cancer-fighting agent called 124I-8H9 was administered directly to the brain tumor utilizing MRIC's three-dimensional, MRI-guided system. The case involves a rare form of brain cancer known as a diffuse infiltrative pontine glioma (DIPG) tumor, which is inoperable due to its location on the brain stem. Previous attempts to inject the immunotherapy directly have failed, as have traditional radiation treatments. Pediatric patients diagnosed with the cancer usually die within a few months, but the success of the procedure where previous administration attempts have failed offers hope. The lead surgeon in the trial, Dr. Mark Souweidane, said:

It's a departure from the standard therapy and has the potential to create a whole new paradigm in brain tumor treatment.

Along the same thread, ClearPoint was recently

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