05:13 PM EDT, 05/14/2024 (MT Newswires) -- Perimeter Medical Imaging AI ( PYNKF ) , a commercial-stage medical technology company, on Tuesday reported financial results for its first quarter.

Operating expenses for the three months ended March 31, 2024 were US$4.7 million compared to $3.8 million for the same period in 2023. For the three months ended March 31, 2024, net loss decreased to $2.1 million compared to $3.2 million for the same period in 2023.

For the three months ended March 31, 2024, cash used in operating activities was $3.5 million.

Adrian Mendes, Perimeter's Chief Executive Officer said in a statement: "This past quarter we saw significant momentum in the clinical development side of our business. Our commercial team is also seeing growing market traction as they work to establish Perimeter S-Series OCT as a preferred technology for margin visualization in the OR."

Perimeter continues its commercial expansion efforts and, year to date, has completed placements of its flagship Perimeter S-Series OCT system at three new hospital sites, including two additional follow-on placements in North Texas within a leading national healthcare system, and one placement within a new healthcare network.