Nuwellis Inc Stock Price, News & Analysis

Nuwellis, Inc. (Nasdaq: NUWE) announced that its Special Meeting of Stockholders, held on December 7, 2022, was adjourned due to a lack of quorum, with less than one-third of outstanding shares represented. The meeting will reconvene on January 4, 2023, providing additional time for stockholders to vote on proposals outlined in the proxy statement filed on November 7, 2022. Approximately 31.69% of shares had been voted at the time of adjournment, and stockholders who have not yet voted are urged to do so by January 3, 2023, at 10:59 p.m. CST.

Nuwellis, Inc. (Nasdaq: NUWE) has received a 180-day extension from Nasdaq to meet the minimum bid price requirement of $1.00 per share, following the end of an initial compliance period on November 28, 2022. The new deadline to achieve compliance is May 29, 2023. If Nuwellis' shares close at or above $1.00 for 10 consecutive business days before this date, the company will be notified of compliance. This extension does not affect the current listing or trading of NUWE on the Nasdaq Capital Market.

Nuwellis, Inc. (Nasdaq: NUWE) announced the approval of equity awards for seven new employees under its 2021 Inducement Plan, effective November 15, 2022. These awards include options to purchase a total of 9,695 shares with an exercise price of $0.11 per share. The options vest over four years, with 25% vesting after the first year. This approval aligns with Nasdaq Listing Rule 5635(c)(4), which mandates public disclosure of such equity awards. Nuwellis aims to enhance patient care through its Aquadex SmartFlow® system, treating fluid overload in patients.

Nuwellis, Inc. (Nasdaq: NUWE) reported Q3 2022 revenue of $2.1 million, marking an 11% increase year-over-year. The gross margin remained solid at 61%, consistent with last year. The company activated three additional sites for the REVERSE-HF clinical study and announced positive AVOID-HF clinical data showing ultrafiltration's superior benefits for heart failure patients. Nuwellis also closed an $11.0 million public offering on October 18. The net loss was reduced to $3.9 million from $5.3 million a year prior. Cash and equivalents total approximately $12.1 million.

Nuwellis, Inc. (NUWE) announced promising clinical data demonstrating the efficacy of kidney replacement therapy using ultrafiltration for preterm neonates with end-stage kidney disease. A retrospective study revealed that 71% of the seven neonates studied survived to hospital discharge. The company aims to address unmet needs in neonatal fluid management and is developing a new pediatric CRRT device with partial funding from a $1.7 million NIH grant, collaborating with Koronis Biomedical Technologies Corporation.

Nuwellis, Inc. (NASDAQ: NUWE) will release its third quarter 2022 financial results on November 8, 2022. A conference call and webcast are scheduled for 9:00 AM ET, featuring management's discussion on the financial results and a business overview. Interested parties can join the live webcast on Nuwellis' Investors page or call in using the provided numbers with conference ID 10172214. Founded in Minneapolis, Nuwellis focuses on developing and commercializing the Aquadex SmartFlow® system for ultrafiltration therapy to aid patients with fluid overload.

Nuwellis, Inc. (Nasdaq: NUWE) has appointed Lynn Blake as Chief Financial Officer, effective October 19, 2022. With over 20 years of financial leadership experience, including successful roles in public offerings, Blake aims to support Nuwellis in expanding its market opportunities for ultrafiltration therapies targeting fluid overload in patients. Nuwellis is focused on enhancing access to its Aquadex SmartFlow® technology for both adult and pediatric patients, signaling a strategic move towards growth in critical care and heart failure sectors.

Nuwellis, Inc. (NASDAQ: NUWE) announced the successful closing of an underwritten public offering, generating gross proceeds of approximately $11.04 million. This offering included the full exercise of the underwriter's over-allotment option. The transaction comprised 15,235,196 Class A Units at $0.25 each, and 23,157,124 Class B Units, also priced at $0.25. Each Class A Unit consists of one share of common stock and 1.5 warrants, while Class B Units consist of one share of Series I convertible preferred stock. The warrants will be exercisable contingent on stockholder approval of a reverse stock split.

Nuwellis, Inc. (Nasdaq: NUWE) announced an underwritten public offering of units, aiming to raise approximately $9.6 million before costs. The offering includes 15,235,196 Class A Units and 23,157,124 Class B Units, each priced at $0.25. Each unit consists of common stock and warrants to purchase additional shares. Stockholder approval is required for the warrants' exercise, contingent upon a reverse stock split. Closing is anticipated on October 18, 2022. Ladenburg Thalmann is acting as the sole book-running manager.