Clearpoint Neuro Inc Stock Price, News & Analysis

ClearPoint Neuro, Inc. (NASDAQ: CLPT) announced an expansion of its collaboration with Philips to enhance its ClearPoint Maestro^® Brain Model for precise interventions in the operating room using MRI and CT scans. This agreement aims to add subnuclei segmentation, allowing for optimized surgical planning and execution. Joe Burnett, President and CEO, highlighted the importance of this development as part of their strategy to broaden the company’s neuro-navigation capabilities. The ClearPoint platform has a strong history with over 6,000 procedures and FDA clearance obtained in 2022. This progress places ClearPoint at the forefront of neuro-navigation technology, focusing on improving patient outcomes for complex neurological disorders.

ClearPoint Neuro (NASDAQ: CLPT) announced a multi-year licensing deal with UCSF to develop a radial cellular delivery device for brain therapies. This device aims to enhance the precision of delivering biologics, such as stem cells and gene therapy, to specific brain locations using real-time imaging. Dr. Daniel Lim from UCSF highlighted its potential impact on treating neurological disorders like Parkinson's disease. The agreement allows ClearPoint to commercialize the device, which is expected to improve cell therapy trials plagued by technical limitations. ClearPoint's system is already in over 65 sites globally, enhancing the delivery of various therapeutic agents.

ClearPoint Neuro, Inc. (Nasdaq: CLPT) reported record revenues for the year ended December 31, 2022. The company achieved $20.6 million in total revenue, representing a 26% increase from 2021, marking the eighth consecutive year of growth. Q4 revenue was $5.2 million, a 21% year-over-year increase. Biologics and drug delivery revenue increased by 34% to $9.1 million for the full year. However, while gross margin was 66%, it decreased from 68% in 2021 due to rising indirect labor costs. The company ended 2022 with $37.5 million in cash and short-term investments. ClearPoint expects continued growth of 20% in 2023.

ClearPoint Neuro, Inc. (Nasdaq: CLPT) announced plans to release its financial results for the fourth quarter and full year of 2022 on March 1, 2023, after market close. Investors and analysts can join a live broadcast at 4:30 p.m. ET to discuss these results. The call will be accessible via telephone and an online archive will be available on the Company’s Investor website. ClearPoint Neuro aims to enhance treatment for neurological disorders through its Neuro Navigation System, which has FDA clearance and is utilized in over 65 sites globally. The Company emphasizes its partnerships and the importance of its innovative therapies for complex neurological conditions.

ClearPoint Neuro, Inc. (Nasdaq: CLPT) announced its preliminary financial results for Q4 and full year 2022. Q4 revenue reached $5.2 million, a 21% increase year-over-year, while full-year revenue was $20.6 million, up 26%. Cash burn for Q4 was approximately $3.0 million, with cash reserves of $37.5 million at year-end. The company forecasts 2023 revenue between $25.0 million and $27.0 million, citing growth driven by new clinical trials and product developments. CEO Joe Burnett noted a record backlog of orders for a promising 2023.

ClearPoint Neuro, Inc. (Nasdaq: CLPT) has initiated a clinical trial for Glioblastoma, enrolling its first patient at Skåne University Hospital in Lund, Sweden. This trial assesses the safety and feasibility of the ClearPoint Prism™ Neuro Laser Therapy System for tumor ablation in five patients. The system combines navigation and laser technology for minimally invasive procedures. Following FDA clearance received in September, data from this trial will also assist in obtaining CE Mark in Europe. ClearPoint aims to improve treatment options for neurological disorders.

ClearPoint Neuro, Inc. (Nasdaq: CLPT) announced its participation in upcoming investor conferences. Management will present at the 2022 Stifel Healthcare Conference on November 15, 2022, at 10:55 a.m. ET in New York, and at the 34th Annual Piper Sandler Healthcare Conference on November 29, 2022, at 11:50 a.m. ET, also in New York. ClearPoint Neuro focuses on enabling therapies for complex neurological disorders, with its navigation system having FDA clearance and operational at over 60 sites globally.

ClearPoint Neuro reported third-quarter 2022 revenue of $5.1 million, reflecting a 13% year-over-year increase. Key achievements include the European Commission granting full marketing authorization for Upstaza, a gene therapy, and multiple FDA clearances for new products. The company anticipates full-year revenues between $21.0 million and $22.0 million. However, operating expenses rose to $7.5 million, attributed to increased headcount and share-based compensation, leading to a decrease in cash reserves from $54.1 million at the beginning of the year to $40.5 million.

ClearPoint Neuro, Inc. (Nasdaq: CLPT) is set to release its financial results for Q3 2022 on November 8, 2022, after market close. A live broadcast of the results will occur at 4:30 p.m. Eastern time the same day. Investors can access the call online or by phone. ClearPoint's current offerings include advanced navigation and delivery systems for treating neurological disorders, and the company maintains partnerships with over 45 organizations in clinical trials. Investors are reminded of uncertainties affecting future performance, including market acceptance and supply chain issues.