Insights

Why the OptiScan (ASX:OIL) share price is climbing higher

The Optiscan Imaging Ltd (ASX: OIL) share price is up 4.35% today after a positive announcement on a product order.
The post Why the OptiScan (ASX:OIL) share price is climbing higher appeared first on The Motley Fool Australia. –

Man in white business shirt touches screen with happy smile symbol IGO share price upgrade

The Optiscan Imaging Limited (ASX: OIL) share price is climbing higher today after a positive announcement on a product order.

At the time of writing, the Optiscan share price is up 4.3% higher to 12 cents. In comparison, the All Ordinaries Index (ASX: XAO) is currently down 0.1% at 6,932 points.

Quick take on OptiScan

Based in Australia, OptiScan develops endomicroscopic imaging technologies for medical markets.

Its confocal imaging technology can be used for both cancer screening and tumour margin detection in cancer surgery. The company’s technology enables real-time, in vivo imaging at the cellular level, providing a digital biopsy. This benefits patients by allowing medical professionals to monitor the early-stage of disease, and reduce waiting times for pathology results.

OptiScan is used by leading research institutions and hospitals in North America, Europe, Asia and Australia.

What did OptiScan announce?

OptiScan advised that it received orders worth $350,000 from its partner, Carl Zeiss Meditec AG (CZM), to support its Convivo system.

CZM is a European medical technology company that employs cutting edge solutions in diagnosing and treating patients. The Convivo system allows real-time feedback on tissue microstructure through digital pathology consultation, powered by OptiScan’s miniaturised point scanning confocal technology.

While OptiScan did not release further details on the contract, it noted that the latest order would expand its current revenue streams.

What did management say?

OptiScan CEO and chair Darren Lurie welcomed the progress, adding:

We are also very pleased that OptiScan continues to diversify its revenue streams and cash flows.

Receipts in the December 2020 quarter included $570k from the final payments for the 2 (two) FIVE2 (ViewnVivo) systems sold to China based customers, the BioMedTech Horizons Program grant to support the University of Melbourne’s Melbourne Dental School trial and payments from CZM.

OptiScan share price snapshot

The OptiScan share price has been tracking higher over the past 12 months, reaching as high as 16.5 cents in December.

After the company’s shares hit a low of 1.3 cents last March, this is a gain of 823% on the current price.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the OptiScan (ASX:OIL) share price is climbing higher appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!