Welcome to our dedicated page for Profound Med news (Ticker: PROF), a resource for investors and traders seeking the latest updates and insights on Profound Med stock.
Profound Medical Corp. develops and markets interventional MRI medical devices for incision-free tissue ablation. Its recurring news centers on TULSA-PRO® and the TULSA Procedure™, which use real-time MRI guidance, robotically controlled transurethral ultrasound and temperature feedback to ablate prostate tissue in prostate cancer and benign prostatic hyperplasia.
Company updates also cover Sonalleve®, an MRI-guided therapy used for pain palliation of bone metastases, desmoid tumors and osteoid osteoma, as well as gynecologic conditions including uterine fibroids and adenomyosis. Recurring developments include financial results, revenue guidance, payer coverage, CAPTAIN post-market clinical data, scientific-meeting presentations, treatment-site adoption milestones and investor conference updates.
Profound Medical Corp. (NASDAQ:PROF) announced that management will present a business update at the 2022 Jefferies Global Healthcare Conference in New York City on June 9, 2022, at 4:30 p.m. ET. This presentation will be streamed live and archived on their website. The company develops incision-free therapies for tissue ablation, commercializing products like TULSA-PRO® for prostate procedures and Sonalleve® for uterine fibroids and pain management. Both technologies are CE marked and have gained various regulatory approvals.
Profound Medical Corp. clarifies recent insider trading activities amid investor inquiries, confirming open market purchases by executives. CEO Arun Menawat and Independent Lead Director Brian Ellacott collectively bought approximately US$763,000 worth of shares. Menawat acquired 60,516 shares at prices ranging from US$6.6548 to US$7.05. These transactions were disclosed to address shareholder concerns, as the company does not file on U.S. SEC forms that detail insider trading. Profound continues to focus on its innovative medical technologies.
Profound Medical Corp. (NASDAQ:PROF) announced successful demonstrations of its TULSA-PRO® technology at the AUA 2022 Annual Meeting held from May 13-16. A highlight was a semi-live TULSA procedure conducted by Dr. Kenneth A. Goldberg, showcasing the device's capability in safely ablating prostate tissue. Additional presentations reported promising outcomes from a clinical study on benign prostatic hyperplasia (BPH). The company also launched the TULSA-PRO® Software version 2.11, enhancing procedure accuracy with new imaging features. Feedback from the event was largely positive, supporting its commercialization strategy.
Profound Medical Corp. (NASDAQ:PROF) reported Q1 2022 revenue of $1.4 million, a 92% increase from $711,000 a year prior. Of this, $1.02 million came from recurring revenue. Operating expenses rose by 13% to $7.7 million, with net loss widening to $10.5 million, or $0.40 per share, from $8.5 million, or $0.37 per share, in Q1 2021. The company's cash position stood at $60.1 million. Profound emphasizes growth in TULSA procedure utilization and future revenue growth driven by international market activity.
Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) announced plans to present a business update at the Bloom Burton & Co. Healthcare Investor Conference on May 2, 2022, at 2:00 p.m. ET at the Metro Toronto Convention Centre. The presentation will be live-streamed and archived on their website. Profound specializes in incision-free therapies for tissue ablation, showcasing technologies like TULSA-PRO® for prostate treatment and Sonalleve® for uterine fibroids. Both technologies are CE marked and FDA cleared, indicating their regulatory compliance and potential market reach.
Profound Medical Corp. (NASDAQ: PROF) will announce its Q1 2022 financial results on May 9, 2022, following market close. The company's management will host a conference call at 4:30 p.m. ET to discuss the results and business developments. Profound specializes in incision-free therapies for tissue ablation, highlighted by its products like TULSA-PRO®, which integrates real-time MRI and ultrasound technology for prostate treatments. The company also offers Sonalleve®, targeting uterine fibroids and bone metastases pain, with multiple regulatory approvals.
Profound Medical Corp. (NASDAQ:PROF) announced its financial results for Q4 and full year 2021. Q4 revenue decreased to $1.0 million from $2.9 million, with a net loss of $10.2 million, up from $7.5 million in Q4 2020. Full year revenue was approximately $6.9 million, a slight decline from $7.3 million in 2020. Operating expenses rose by 49% to $33.2 million, with R&D expenses increasing 54%. Despite COVID-19 impacts, Profound noted improved TULSA-PRO installations and recurring revenue growth of 37%. Cash reserves stand at $67.2 million as of December 31, 2021.
Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) will participate in two upcoming investor conferences in March. The 42nd Annual Cowen Health Care Conference is scheduled for March 7, 2022, at 10:30 a.m. ET, and the Raymond James 43rd Annual Institutional Investors Conference will follow on March 9, 2022, at 9:50 a.m. ET. Both presentations will be accessible via live broadcast and archived on Profound's website. Profound specializes in customizable, incision-free therapies for the ablation of diseased tissue, including TULSA-PRO® and Sonalleve® technologies.
Profound Medical Corp. (NASDAQ:PROF) announced the first agreement for its TULSA-PRO® system compatible with GE Healthcare’s 3T MRI scanners, signed with Brigham and Women's Hospital. This partnership aims to enhance the treatment of prostate cancer, which is increasingly prevalent worldwide. CEO Arun Menawat highlighted that this compatibility could boost market access by 30-40%. TULSA-PRO® is designed for incision-free ablation of diseased prostate tissue while preserving healthy areas, with CE, Health Canada, and FDA clearances.
Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) will announce its fourth quarter and full-year 2021 financial results on March 3, 2022, after market close. The management will host a conference call at 4:30 p.m. ET to review these results and discuss business developments. Profound specializes in customizable, incision-free therapies for tissue ablation, notably the TULSA-PRO® and Sonalleve® technologies. These devices address conditions like prostate cancer and uterine fibroids and have received necessary regulatory approvals from CE, Health Canada, and the U.S. FDA.