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Nuwellis, Inc. reported financial results for Q1 2024 with revenue of $1.9 million, a 2% increase over the prior year. Consumables sales grew by 11%, pediatric revenue increased by 40%, and gross margin improved to 64.1%. The company received FDA clearance for a new catheter and launched Aquadex ultrafiltration therapy. Expense reductions of nearly 50% are expected for the rest of the year.
Nuwellis, Inc. (Nasdaq: NUWE) has received a Notice of Allowance from the USPTO for a patent related to its innovative pediatric Continuous Renal Replacement Therapy (CRRT) device Vivian™. This patent enhances Nuwellis' IP portfolio, enabling healthcare providers to seamlessly switch between stationary and transport modes for improved patient care. The company is also developing a new pediatric CRRT device with NIH funding, in collaboration with Koronis Biomedical Technologies , to better care for children with kidney issues.
Nuwellis, Inc. announced the closing of a $2.7 million public offering, issuing 11,250,000 shares of common stock and warrants. The gross proceeds will be used for working capital and general corporate purposes, including investments in commercialization efforts.
Nuwellis, Inc. (NUWE) will report its first quarter 2024 financial results on May 7, 2024. The medical technology company will host a conference call and webcast to discuss the results and provide a business update.
Nuwellis, Inc. (NUWE) announced the pricing of a $2.7 million public offering, including 11,250,000 shares of common stock and warrants to purchase up to 16,875,000 shares at $0.24 per share. Each share comes with a warrant to purchase 1.5 additional shares at an exercise price of $0.40 per share.