NeuroOne Medical Technologies Corporation develops medical technology for surgical diagnosis and treatment of neurological disorders. The company’s platform centers on thin-film electrode technology used in recording, monitoring, mapping, ablation and brain stimulation applications, including Evo Cortical, Evo sEEG and the OneRF Ablation System.
NeuroOne news commonly covers FDA 510(k) clearances, product applications for epilepsy, facial pain and other neurosurgical uses, patent activity around neural probe and electrode technologies, financial results, capital raises, commercial orders, investor conferences and management updates. Coverage also reflects the company’s efforts to extend the OneRF platform into additional ablation, stimulation and drug-delivery applications.
NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) reported its fourth quarter and full fiscal year 2021 financial results. The Company achieved product revenues of $48,000 and $178,000 for the quarter and year, respectively, compared to no product revenue in the prior year. Notably, collaboration revenue declined significantly to $5,000 for Q4 and $65,000 for the full year from $1.9 million in FY 2020. Operating expenses totaled $10.2 million for the year, resulting in a net loss of $9.9 million. The Company closed a public offering, raising $13.35 million to support product launches.
NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) will host a conference call on December 15, 2021, at 9:00 AM Eastern Time to discuss its financial results for the fourth quarter and fiscal year ended September 30, 2021. Interested participants can call 888-506-0062 (toll-free) or 973-528-0011 (international) with access code 527216. The call can also be accessed through a webcast, with replay available post-event.
NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) announced a public offering of 3,750,000 shares of common stock priced at $3.20 per share. The offering is expected to yield approximately $12.0 million in gross proceeds before expenses and is scheduled to close by October 15, 2021. The company has granted underwriters a 30-day option to purchase an additional 562,500 shares. Proceeds will be utilized for working capital and general corporate purposes. The offering is made under the effective shelf registration statement filed with the SEC.
NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) announced a proposed underwritten public offering of its common stock, intending to use the net proceeds for working capital and general corporate purposes. The offering includes a 30-day option for the underwriter to purchase an additional 15% of the shares sold. The offering is subject to market conditions and may not be completed as planned. Craig-Hallum Capital Group acts as the sole underwriter. The public offering is made under an effective shelf registration statement as filed with the SEC on June 14, 2021.
NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) announced the successful completion of an animal feasibility study for its Evo® ablation electrode, conducted at T3 Labs and Georgia Tech under Dr. Robert Gross. The study demonstrated the ability to record brain activity and ablate tissue, aimed at improving treatment for neurological disorders. The Evo ablation electrode, pending FDA clearance, could allow dual procedures in one hospital visit, enhancing patient care and reducing costs. The company also noted its partnership with RBC Medical for radiofrequency hardware development.
NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) announced its participation in the H.C. Wainwright 23rd Annual Global Investment Conference, taking place virtually from September 13-15, 2021. The presentation will be available on-demand starting September 13. Management will also conduct one-on-one investor meetings during the event. NeuroOne focuses on innovative surgical solutions for neurological disorders, having received FDA clearance for its Evo cortical and sEEG electrode technologies. The company aims to improve patient outcomes and reduce costs.
NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) announced FDA 510(k) clearance for its Evo sEEG Electrode technology, designed for temporary use in recording, monitoring, and stimulating subsurface brain signals. This product is the second FDA-cleared device for the company, tapping into a $100 million market for brain mapping. NeuroOne aims to expand sEEG labeling for longer-term use and develop therapeutic electrodes for chronic conditions, with an estimated addressable market between $500 million and $6 billion. The company anticipates being launch-ready by the end of 2021.
NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) was featured on Cheddar News, discussing advancements in their brain implant technology aimed at improving treatment for neurological disorders. CEO Dave Rosa highlighted the unique high-definition capabilities of their sEEG electrodes, offering 900 contact points compared to traditional electrodes, which enhance precision and clarity. The company aims to integrate multiple functions into one device, reducing the need for multiple surgeries. NeuroOne's partnerships with major medical entities enhance its development efforts, focusing on conditions like epilepsy and Parkinson's disease.
NeuroOne Medical Technologies Corporation (NMTC) has partnered with RBC Medical Innovations to develop a proprietary radiofrequency generator, aiming to innovate seizure treatment. This partnership combines diagnostic and therapeutic functions into a single electrode, simplifying the process for patients with epilepsy or brain tumors. This advancement is set to save time and costs while potentially improving outcomes. The market for this innovation is projected to exceed $100M. Completion of the project is anticipated by late 2022, pending regulatory clearance.
NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) announced its third quarter financial results for fiscal 2021, achieving product revenue of $40,000 and collaboration revenue of $17,000, a notable increase from zero revenue in the same quarter last year. Operating expenses totaled $3.0 million, with a net loss of $3.0 million, improved from a net loss of $7.1 million in the prior year. The company completed its first human use of the Evo Cortical electrode at Mayo Clinic and closed a $12.5 million private placement. NeuroOne is on track for further product launches and has uplisted to Nasdaq.