Clearpoint Neuro Inc Stock Price, News & Analysis

ClearPoint Neuro, Inc. (Nasdaq: CLPT) congratulates Blackrock Neurotech for its FDA Breakthrough Device designation for the MoveAgain Brain Computer Interface (BCI) system. This system aims to assist the 5.35 million people suffering from paralysis in the U.S. by translating brain signals into commands for devices like wheelchairs. ClearPoint is leveraging its expertise in neuro-navigation to help develop a surgical solution for BCI implantation. The partnership aims to enhance quality of life for patients with severe neurological disorders.

ClearPoint Neuro reported a record revenue of $4.6 million for Q3 2021, reflecting a 30% year-over-year increase. The company saw a 39% rise in biologics and drug delivery revenue, totaling $2.1 million. Despite challenges from the Delta variant impacting elective procedures, case support grew by 14%, totaling 227. ClearPoint continues to forecast revenue for 2021 between $16.0 and $17.5 million. The company's cash position improved significantly, rising to $57.7 million.

ClearPoint Neuro, Inc. (Nasdaq: CLPT) announced that partner Neurona Therapeutics received FDA clearance for its Investigational New Drug (IND) application. This allows Neurona to commence its Phase 1/2 clinical trial for NRTX-1001, aimed at treating drug-resistant mesial temporal lobe epilepsy (MTLE). The trial will first enroll up to 10 patients, followed by a larger group of 30 for blinded safety and efficacy evaluation. ClearPoint's involvement highlights its commitment to advancing neurological treatments, which may benefit many epilepsy patients globally.

ClearPoint Neuro, a leader in brain therapy navigation and delivery, announced its participation in the 2021 Stifel Virtual Healthcare Conference on November 16, 2021, at 10:40 a.m. ET. Interested parties can register by contacting Stifel. An online archive of the presentation will be available for 90 days on ClearPoint's website. The company focuses on improving patient quality of life through precise neurological therapies and collaborates with over 35 partners globally. Its navigation system is FDA-cleared and installed at over 60 sites, supporting over 4,500 clinical cases.

ClearPoint Neuro, Inc. (Nasdaq: CLPT) has appointed Dr. Linda M. Liau to its Board of Directors, enhancing its leadership with her extensive experience in neurosurgery and research. Dr. Liau, a recognized authority in brain tumor treatment and immunology, is currently a professor at UCLA and co-director of the UCLA Brain Tumor Center. ClearPoint aims to innovate in areas such as gene therapy and brain-computer interfaces, emphasizing patient care. This appointment reflects the company’s commitment to advancing neurological therapies and improving patient outcomes.

ClearPoint Neuro, Inc. (Nasdaq: CLPT) announced its 2021 third quarter financial results will be released on November 9, 2021, after market close. The company invites investors and analysts to a live broadcast discussing these results at 4:30 PM Eastern Time. The replay will be available until December 9, 2021. ClearPoint Neuro focuses on enabling therapies for complex neurological disorders, with products installed in over 60 sites across the US, Canada, and Europe, serving over 35 partners in pre-clinical studies and clinical trials.

ClearPoint Neuro reported a strong second quarter with revenues of $3.4 million, a 38% year-over-year increase, and a record case volume of 249, up 98% year-over-year. Biologics and drug delivery revenue rose 19% to $1.4 million. The FDA cleared the SmartFrame Array, marking significant progress. The company expects to support 900-1000 cases in 2021, with estimated revenues between $16.0 and $17.5 million. However, rising expenses in research and development, marketing, and administration were noted, alongside impacts from COVID-19.

ClearPoint Neuro, Inc. (Nasdaq: CLPT) announced a strategic partnership with adeor medical AG to distribute the Velocity Alpha high-speed surgical drill system in the U.S. This FDA-cleared product will enhance ClearPoint’s offerings for neurosurgeons in cranial and spinal procedures. The partnership also includes developing an MRI conditional version of the drill, allowing exclusive global distribution rights to ClearPoint. The U.S. market for powered drill solutions is valued at approximately $200 million, with the cranial and spine market exceeding $50 million.

ClearPoint Neuro announced the installation of its Neuro Navigation System at Hôpital Fondation Rothschild in Paris, enhancing pediatric neurosurgery through intra-procedural MRI guidance. This collaboration aims to streamline laser interstitial thermal ablations, allowing for procedures to be conducted entirely within the MRI suite. Matt Rabon emphasized the strategic move to establish additional trial centers in Europe, the UK, and the Middle East, facilitating partnerships with pharmaceutical companies. ClearPoint has FDA clearance, is CE-marked, and is active in over 60 sites globally.