Clearpoint Neuro Inc Stock Price, News & Analysis

ClearPoint Neuro (Nasdaq: CLPT) and Blackrock Neurotech have formed a joint agreement to develop an automated surgical solution for implanting Brain Computer Interfaces (BCIs) targeting various neurological disorders. This collaboration aims to enhance surgical efficiency and predictability in BCI implantation using ClearPoint's advanced navigation platform. The growing market for BCIs and neuro-navigational systems is estimated to exceed $1 billion annually. Blackrock will partially fund development efforts, seeking to commercialize rapid, automated procedures for improved patient outcomes.

ClearPoint Neuro, Inc. (Nasdaq: CLPT) announced the appointment of Lynnette C. Fallon to its Board of Directors effective immediately. Fallon, currently Executive VP and General Counsel at Axcelis Technologies, brings over two decades of experience in business development, financial management, and corporate compliance. President and CEO Joe Burnett expressed optimism about her contributions to human resources and investor relations. ClearPoint Neuro aims to improve treatments for neurological disorders with its FDA-cleared ClearPoint Navigation System, which is operational in over 60 sites worldwide.

ClearPoint Neuro, Inc. (Nasdaq: CLPT) announced the installation of its version 2.0 software at Mazowiecki Szpital Bródnowski in Warsaw, Poland. This milestone allows for advanced procedures including deep brain stimulation, biopsies, and clinical trials. Professor Mirosław Ząbek praised the ClearPoint team's dedication during installation, anticipating significant clinical advancements. Matt Rabon emphasized the importance of Poland's clinical trial market and the ongoing strategy to expand ClearPoint’s drug delivery trial centers in Europe as COVID-19 restrictions ease.

ClearPoint Neuro, Inc. (Nasdaq: CLPT) will join the Russell 3000 Index effective June 28, 2021. This addition, announced in a preliminary list on June 4, will enhance the company's institutional shareholder base and visibility among investors. The Russell 3000 Index includes the largest U.S. stocks by market capitalization, facilitating investment strategies for a significant number of fund managers. ClearPoint Neuro develops advanced navigation and delivery systems for complex neurological therapies, with FDA-approved products currently operating at over 60 sites globally.

ClearPoint Neuro has achieved a significant milestone by treating the first patient using its platform in a Phase 1 clinical trial for advanced Parkinson's disease. Conducted by BlueRock Therapeutics, this trial investigates the safety and efficacy of pluripotent stem cell-derived dopaminergic neurons. The surgery was performed at Memorial Sloan Kettering Cancer Center, utilizing the ClearPoint Neuro Navigation System. This trial aims to enroll ten patients across sites in the U.S. and Canada, highlighting ClearPoint's role in advancing treatments for complex neurological conditions.

ClearPoint Neuro (Nasdaq: CLPT) will present at the UBS Global Healthcare Virtual Conference on May 26, 2021, at 12:00 p.m. Eastern Time. The presentation aims to showcase the company’s advancements in neurological therapies.

The session will be available to watch on-demand for 30 days on ClearPoint Neuro's website, specifically in the Investor Relations section. ClearPoint focuses on delivering therapies for complex neurological disorders using its Navigation System, which has over 4,500 successful procedures and partnerships with over 30 companies in the pharmaceutical and biotechnology sectors.

ClearPoint Neuro has announced the first human cases using its SmartFrame Array Neuro Navigation System, aiming to enhance neurosurgery workflows by reducing procedure times in MRI and Operating Room settings. The Array system's flexibility is expected to increase accessibility for hospitals and surgeons. Initial procedures were conducted by prominent neurosurgeons at renowned institutions, showcasing the system's efficiency. Full market release of the Array is anticipated in early 2022, following a phase of limited market release to gather training materials and case studies.

ClearPoint Neuro reported Q1 2021 revenue of $4.0 million, up 29% year-over-year. Biologics and drug delivery revenue surged 61% to $1.7 million. The company added new partnerships, raising its total to approximately 30. Case volume increased to 214, exceeding previous estimates. Following a public offering, net proceeds reached $46.8 million, bolstering cash reserves to nearly $65.0 million. Despite hospital budget constraints, the company anticipates 2021 revenues between $16.0 million and $17.5 million.

ClearPoint Neuro (Nasdaq: CLPT) announced a partnership with D&K Engineering to develop a robotic system for MRI and operating room use. This collaboration aims to streamline neurosurgery, enhancing procedural efficiency and patient interaction. The partnership leverages ClearPoint's existing technology and D&K's expertise in medical devices. The robotic system is expected to see its first clinical application in 2023. ClearPoint Neuro's platform has FDA clearance and is already implemented in over 60 clinical sites across the U.S., Canada, and Europe.