After the stock price hit an all-time low of $11.79 yesterday, the CEO of Nanox has decided that enough is enough and issued a misleading press release this morning.
The press release is titled:
Nanox Announces Issuance of American Medical Association New Category III CPT® Code for Its Coronary Artery Calcium Population Health Solution
It turns out, however, that the new CPT code has nothing to do with Nanox AI or detecting any coronary artery calcium. Here is the long description of the code:
Quantitative computed tomography (CT) tissue characterization, including interpretation and report, obtained with concurrent CT examination of any structure contained in the concurrently acquired diagnostic imaging dataset (List separately in addition to code for primary procedure)
It is a generic experimental code for quantitative, not necessarily AI, analysis of CT images (remember, those expensive and hard-to-get images that Nanox.ARC is supposed to replace worldwide by "democratizing imaging" and "propelling the universe").
The pdf file with the new code was created on December 17, modified on December 28 (per metadata), and finally published on AMA's website on January 1 (per official schedule).
So that was more than a week ago. Why wait until this morning to issue the press release?
All this in the middle of a formal SEC investigation for fraud.
Very brave of the new CEO! Or not.
No comments:
Post a Comment