Following the company's fourth quarter results, Beacon Securities analyst David M. Kideckel is maintaining his strongly bullish stance on Profound Medical Corp. (Profound Medical Stock Quote, Chart, News: TSXV:PRN). On Monday, Profound Medical reported its fourth quarter and fiscal 2017 results. The company lost $4.53-million on revenue of $1.89-million, a topline that was up 29 per cent over the same period a year prior. "Two thousand seventeen was truly a transformative year for Profound," CEO Arun Menawat said. "With the growing success of the pilot commercial launch of Tulsa-Pro in Europe, combined with the acquisition of Philips's Sonalleve business, Profound made the leap from a development-stage medical device company to a platform company focused on growth. Through the last financing, we now also have the financial resources required to continue to further drive clinical adoption of Tulsa-Pro in Europe, advance development of the technology toward successful commercialization in the United States and execute our commercial plans for the Sonalleve business." Kideckel summarized the company's achievments and looked at upcoming milestones. "As we highlighted in our initiation report, on January 31, 2018, Profound announced the completion of patient enrollment in the TACT (TULSA-PRO Ablation Clinical Trial – Profound’s pivotal Phase 2 trial) designed to further evaluate the safety and efficacy of TULSA-PRO) to ablate prostate tissue in patients with localized, organconfined prostate cancer. The primary efficacy endpoint of TACT is the proportion of patients achieving a post-treatment prostate-specific antigen (“PSA”) reduction ≥ 75% of their pre-treatment baseline value. Profound’s pre-established performance goal for the success proportion is 50% of patients," the analyst explained. "Based on TACT preliminary analysis, Profound announced that, of the first 63 evaluable patients, the median PSA reduction to-date is 93%, and 92% (58 out of 63) have achieved the PSA reduction success proportion. Two thirds of the patients in this trial are US-based, while one third are Europe-based. The company also announced that the investigators in this trial have indicated that this was the fastest clinical trial enrolment in modern urology history." In a research update to clients Tuesday, Kideckel maintained his "Buy" rating and one-year price target of $3.10 on Profound Medical, implying a return of 210 per cent at the time of publication. Kideckel thinks Profound will generate EBITDA of negative $3.49-million on revenue of $12.5-million in fiscal 2018. He expects those numbers will improve to EBITDA of positive $3.28-million on a topline of $27.44-million the following year.