On this week’s Pod, we took a look at another hypergrowth stock pick, Nano-X.
Nano-X Imaging promises to make medical imaging more accessible and more affordable for everyone. They have developed a new type of X-ray technology that is smaller, lighter and less expensive to manufacture and operate, and an innovative pay-per-scan business model. But there are significant red flags, and if FDA approval as a Class II medical device is not granted, it’s very likely that this company goes to zero.
This one-pager summarises the key points as we looked at the company through our ‘investing lenses’. This is not intended to be a buy/sell recommendation and is presented for informational purposes only, but for full disclosure, we both now have small starter positions in Nano-X.
Breaking news: Just a few days after recording our hypergrowth episode on Nano-X last week, the company received FDA clearance for their single-source Nanox.ARC digital X-ray technology. This isn’t the end of the story, but it’s certainly very positive news for the company and mitigates many of the red flags in our one-pager summary. At the time of writing, the stock is only up 17% on the news, but this is a major regulatory hurdle overcome, and if the company can similarly gain approval for multi-source, it’s likely to be full steam ahead on an exciting growth journey
