Shares of MRI Interventions (MRIC) have provided the fireworks for the Fourth of July holiday. Propelled by a late week jump last week, volume and price are both on fire and shares have nearly tripled in just seven trading days. The quick influx of volume could be a loud indicator that investors have become clued in to the real potential of MRIC's technology to move into the mainstream of less-invasive surgeries of the brain and heart.
MRI Interventions is already making headway into the sector with its first FDA-cleared medical device, ClearPoint, which, according to the MRIC website, is "used to perform minimally invasive surgical procedures in the brain guided by intraoperative MR imaging."
MRIC's technology not only allows for less-invasive brain surgeries, but it also comes at a convenience to hospitals or specialized clinics that use the device, given that it augments already-existing MRI suites.
Already taking advantage of the growing trends of developing less-invasive means to conduct major procedures - while also cutting costs - this company has also already landed some heavyweight partners. Brainlab, a leader in the image-guided surgery field in the US and Europe, has already partnered-up in advancing the ClearPath technology towards its full potential, and Siemens AG (SI) came on board for the development ClearTrace, a similar technology to that ClearPath, only this one is geared towards less-invasive heart surgery.
Boston Scientific Corporation (BSX) also jumped in already with a deal that paid MRIC $13 million up-front to incorporate MRIC's technologies into its cardiac pacemakers and neuromodulation products. Future revenues would also become a part of this deal should BSX utilize the technology in any of its products.
For a small company, having landed partners such as those mentioned adds a significant amount of validation to the technology, another key reason why investors may now be taking notice.
Also last week, MRIC revealed that Tocagen was prepared to adopt the ClearPoint technology in association with its ongoing clinical trial for Toca 511 against the most aggressive form of brain cancer, recurrent high grade gliomas including glioblastoma multiforme (GBM). As noted in the press release announcing this new collaboration, ClearPoint will assist medical professionals at selected sites in delivering Toca 511 "into brain tumors under real-time magnetic resonance imaging (MRI) guidance."
Tuesday's price move alone led to a rise of more than forty percent, making MRIC one of the clear winners of the week. With volume moving in at a rapid pace, there's reason to believe that a more protracted run could also take shape as the ClearPoint and ClearTrace technology moves into the mainstream.
The costs behind healthcare is in prime political focus right now, and any procedure or technology that could reduce the overall expenses behind surgeries, follow-up visits and treatments has the potential to land big in today's market.
MRI Interventions' technology fits that bill, making MRIC a hot stock to watch right now.
Disclosure: No position, but may initiate a long position within the next 72-hours.
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