NNOX - Is This Revolutionary X-Ray Stock Grossly Undervalued?
Nano-X Imaging (NASDAQ: NNOX) is one of my favorite biotechs. It's an incredible story. A bunch of engineers working for Sony developed a cold cathode technology for flat-screen TVs. Unfortunately, the tech was too expensive, and Sony killed the project.
The Japanese engineers didn't give up, however. They wondered if the science could work in the field of high-end X-rays, like CAT scanners or MRIs used in hospitals. Those machines -- unlike televisions -- cost millions of dollars. On the other hand, a cold cathode X-ray machine could be built relatively cheaply for $10,000. So while that price point wouldn't work with televisions, it radically disrupts the high-end X-ray market.
While it's a revolutionary breakthrough, it has not been a quick process. The engineers at Sony spent over a decade developing the original cold cathode technology. A Japanese venture capitalist named Hitoshi Masuya started funding (along with Sony) a joint venture to use this tech for X-rays. After Sony decided to drop out, Masuya pitched the project to Ran Poliakine , a serial entrepreneur in Israel, and his company bought in.
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Is This Revolutionary X-Ray Stock Grossly Undervalued?