Welcome to our dedicated page for Imac Hldgs news (Ticker: BACK), a resource for investors and traders seeking the latest updates and insights on Imac Hldgs stock.
IMAC Holdings Inc (BACK) news coverage documents the company's evolution from an integrative medicine clinic operator to a proteomics-focused biotechnology enterprise. The news feed captures material developments including corporate transformations, strategic acquisitions, research collaborations, and regulatory compliance matters that shape the company's business trajectory.
Coverage includes announcements related to Ignite Proteomics, the company's biotechnology subsidiary focused on protein analysis platforms. News about research collaborations with academic and commercial partners provides insight into the company's technology validation efforts and potential market applications. These partnerships often signal progress in developing proteomics platforms for drug discovery, biomarker identification, and precision medicine applications.
The news archive also documents the company's historical integrative medicine business, including developments related to its regenerative medicine clinics that provided non-invasive treatments for musculoskeletal conditions. This historical context helps investors understand the company's strategic pivot from direct patient care services to biotechnology research and platform development.
Regulatory filings and compliance notifications appear in the news feed, reflecting the company's obligations as a publicly traded entity on NASDAQ. Leadership transitions, executive appointments, and corporate governance changes are documented, providing transparency into management evolution during the company's business transformation. Acquisition announcements detail strategic transactions that enabled the company's entry into the proteomics sector.
Investors and analysts tracking IMAC Holdings will find news covering both operational developments in the proteomics business and corporate matters affecting shareholders. The diversity of news types—from scientific research announcements to regulatory compliance updates—reflects the multifaceted nature of a small-cap biotechnology company navigating business model transformation while maintaining public company reporting obligations.
IMAC Holdings (Nasdaq: BACK) announced the sale of The BackSpace to Curis Functional Health for an undisclosed amount. The BackSpace specializes in spinal health services within select Walmart locations. CEO Jeff Ervin expressed optimism regarding the transition, emphasizing a renewed focus on non-surgical medical care. Additionally, Dr. Ben Lerner, the Chief Operating Officer, has resigned, and the company will not appoint a replacement, as Dr. Matt Wallis will oversee operations. IMAC Holdings continues to manage rehabilitation services and is involved in clinical trials for innovative therapies.
IMAC Holdings, Inc. (BACK) reported strong financial results for Q3 2022 with total revenue increasing 9% to $3.78 million compared to $3.48 million in Q3 2021. The company achieved record visits of 1,818% growth at The BackSpace retail chiropractic centers. Notable achievements include completing a $3.9 million funding round and concluding the Phase 1 clinical study for Parkinson's treatment. The company reduced liabilities by $1 million and introduced new medical services aimed at driving future revenues.
IMAC Holdings (Nasdaq: BACK) has launched an e-commerce platform to retail its Vita Eternum organic supplement line. The products, which include ashwagandha, multivitamins, and collagen protein, are priced between $29 and $49. CEO Jeff Ervin stated that this initiative aligns with the health interests of IMAC's patients and expands the company's market reach via online sales. The U.S. vitamin and supplement market is projected to generate $37.2 billion in sales in 2022. IMAC Holdings focuses on health and wellness through outpatient centers and clinical research.
IMAC Holdings has partnered with Evoke Chiropractic Coaching to promote its new organic, whole food supplements to physician offices. The collaboration kicks off with a panel discussion featuring notable athletes at the Evoke 3rd Annual Conference in St. Louis. The event aims to educate attendees on health, diet, and supplementation while supporting Evoke's mission to assist minority chiropractors. IMAC's COO, Dr. Ben Lerner, stated this initiative will help improve community health through their supplement line.
IMAC Holdings, Inc. (NASDAQ: BACK) announced the completion of the third cohort in its Phase 1 clinical trial of an investigational compound using umbilical cord-derived allogenic mesenchymal stem cells targeting bradykinesia due to Parkinson’s disease. This cohort included five patients receiving a high concentration stem cell treatment. The trial, conducted in three clinical centers, involved 15 patients across different dosage groups. The safety and tolerability study is set to track participants for 12 months, with potential implications for the growing Parkinson’s therapeutics market, projected to reach $5.28 billion by 2025.
IMAC Holdings has partnered with Biote to incorporate Biote's hormone optimization services into IMAC outpatient clinics. This collaboration aims to enhance patient care in weight loss and hormone therapy, addressing obesity and related chronic illnesses. IMAC will begin training its medical staff in the Biote Method in September. Both companies express optimism regarding their joint ability to improve health outcomes for patients across various age groups. This strategic partnership aligns with their missions to provide advanced health solutions.
Biote Corp. (Nasdaq: BTMD) has partnered with IMAC Holdings (Nasdaq: BACK) to introduce Biote's hormone optimization services in IMAC's outpatient clinics. This collaboration aims to enhance patient care by integrating innovative treatments for obesity and chronic pain. Training for IMAC professionals on the Biote Method is set to begin in September. Biote specializes in building medical practices focused on hormone optimization, while IMAC provides regenerative rehabilitation for musculoskeletal and neurological conditions.
IMAC Holdings (Nasdaq: BACK) has launched medical weight loss services at its IMAC Regeneration Centers in three locations. This initiative aims to enhance patient rehabilitation and attract new clients to its orthopedic services. CEO Jeffrey Ervin emphasized the link between obesity and chronic back pain, stating that the weight loss program will be customized for individuals and cost between $1,500 to $4,000 annually. The American Journal of Preventative Medicine predicts that 42% of US adults may be obese by 2030, highlighting the growing relevance of this service.
IMAC Holdings, Inc. (Nasdaq: BACK) has successfully closed a registered direct offering and private placement, raising approximately $3.9 million by issuing 5,164,474 shares at $0.76 per share. Each investor received Series 1 and Series 2 warrants for the same number of shares, with an exercise price of $0.95 per share. The net proceeds will be used for working capital and strategic initiatives. Joseph Gunnar & Co., LLC served as the sole placement agent for the transaction.
IMAC Holdings reported strong preliminary financial results for Q2 2022 with total revenue reaching $5.0 million, a 45% increase from Q2 2021's $3.5 million. Despite a 5.1% decline in patient visits to 42,495, the company saw significant growth in The BackSpace clinics with a 207% sequential increase, aided by plans to expand to at least 20 additional Walmart locations. The company has also launched a certified organic vitamin line and successfully amended its NASDAQ trading symbol from IMAC to BACK. Financial stability was bolstered by a $3.9 million direct offering.
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