SeeThruEquity Issues Company Update on QuikFlo Health, Inc. (TSXV: QF)

NEW YORK, NY / ACCESSWIRE / March 8, 2016 / SeeThruEquity, a leading independent equity research and corporate access firm focused on small-cap and micro-cap public companies, today announced it has issued an company update note on QuikFlo Health, Inc. (TSXV: QF).

The report is available here: QF March 2016 Update. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack’s. The report will be available on these platforms. The firm also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.

QF is a Calgary-based software company that specializes in the development of innovative solutions for the analysis of medical images to improve outcomes for stroke patients. Globally, stroke is the leading cause of long-term disability and the second leading cause of death. QuikFlo’s flagship diagnostic tool, F.A.S.T. (Fast Accurate Stroke Triage), is a proprietary software leveraging technology developed at the University of Calgary and the University Stroke Center. FAST uses an algorithm modeled from the analysis of many thousands of CT scans to calculate the volume of brain affected by an active stroke, and the volume that is likely to die without treatment. QuikFlo plans to complete a working prototype of FAST during 2016E, with a goal of providing cutting-edge stroke CT image analysis in a commercial software that is fast, accurate, and easy for health professionals to use worldwide by the end of 2017E. There have been many notable advancements at Quikflo since our last update on the company, which point to continued progress toward the development and potential commercialization of FAST.

Investment Highlights

QuikFlo to pursue $1.6mn in non-dilutive funding

On February 26, 2016, QuikFlo’s President and CEO Vinny Jindal announced that the company was submitting applications for up to $1.6mn in non-dilutive funding over two years, which, if granted, would cover the research and development process of QuikFlo’s first automated image analysis program for stroke triage. While the funds grants have not yet been awarded, QuikFlo stated that it had a “reasonable expectation of receiving at least some of these grants, based on the academic track record and the success of prior research grants that were provided to its co-inventors through their work at the University of Calgary.” Importantly, Jindal indicated that the company would pursue additional means of non-dilutive funding, concurrently, including smaller grant applications, as well as license and partnership opportunities. This is a key area to watch, in our view, as the company will require significant funding to bring FAST to market.

QuikFlo acquired key IP to accelerate development

QuikFlo followed through on a goal of acquiring rights to some of the crucial IP created by its CTO Dr. Ting Lee, while employed at the University of Western Ontario, on February 2, 2016. The license agreement, which is pending regulatory approval, is non-exclusive and allows the company to use certain intellectual property, including advanced algorithms, developed by Dr. Lee related to CT perfusion analysis, which analyzes blood flow and volume to the brain. QuikFlo management is excited about the prospects for the IP, as CEO Vinny Jindal that Dr. Lee’s algorithms – in combination with the company’s proprietary work could – could potentially accelerate the development timeline for its diagnostic and triage tool FAST, QuikFlo’s medical imaging analytics software-based solution for improving outcomes for stroke patients.

Maintain price target of CAD$1.25 QuikFlo

We are maintaining our price target of CAD$1.25 for QuikFlo at this time. If achieved, the target represents potential upside of 443.5% from the recent price of CAD$0.23. We see QuikFlo as an intriguing speculative company in the biotechnology sector whose flagship FAST proprietary medical imaging analysis tool is being developed to address the large and growing market for stroke diagnostic and therapeutic products. Improved medical imaging analytics has the potential to make a meaningful impact on stroke patient outcomes, where existing time delays are potentially solvable through more efficient triage based on rapid, accurate analysis of medical images.

Please review important disclosures on our website at www.seethruequity.com.

About QuikFlo Health, Inc.

QuikFlo Health, Inc. is a medical software company developing innovative solutions for the analysis of medical images. Our primary focus is on improving outcomes for stroke patients, where existing time delays are solvable through more efficient triage based on rapid, accurate analysis of medical images. Stroke, the third leading cause of death worldwide, represents a significant unmet medical need. QuikFlo’s products will serve the more than 40,000 medical institutions that offer CT imaging worldwide. Quikflohealth.com.

About SeeThruEquity

SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. The company does not conduct any investment banking or commission based business. SeeThruEquity is approved to contribute its research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks, and distribute its research to its database of opt-in investors. The company also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.

For more information visit www.seethruequity.com.

Contact:

Ajay Tandon
SeeThruEquity
info@seethruequity.com

SOURCE: SeeThruEquity

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