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) 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.
Profound Medical Corp. (NASDAQ: PROF; TSX: PRN) announced its management's participation in the BTIG MedTech Conference scheduled from February 15-17, 2022. The event will feature one-on-one investor meetings but will not include a webcast. Profound specializes in incision-free medical therapies, notably the TULSA-PRO® system for prostate cancer treatment and the Sonalleve® platform for uterine fibroids and palliative pain. Both technologies are CE marked and FDA approved, positioning Profound as a leader in innovative medical solutions.
Profound Medical Corp. (NASDAQ:PROF) has initiated the Level 1 CAPTAIN trial, which compares the TULSA procedure to radical prostatectomy (RP) in men with localized prostate cancer. The trial includes 201 patients, with 134 receiving TULSA and 67 undergoing RP. It aims to demonstrate that TULSA maintains efficacy while improving quality of life outcomes, focusing on preserving erectile function and urinary continence at one year. Successful results could enhance reimbursement strategies and expand awareness of TULSA-PRO, a leading technology in prostate cancer treatment.
Profound Medical Corp. has appointed Kenneth Knudson as Chief Commercial Officer to lead global sales, marketing, and reimbursement initiatives. With over 25 years of experience in the medical device sector, Knudson previously served as CEO of Perineologic and held executive positions at Boston Scientific. His leadership is expected to enhance the commercialization of Profound's technologies, including TULSA-PRO® and Sonalleve®. TULSA-PRO® provides incision-free prostate ablation, while Sonalleve® treats uterine fibroids and pain from bone metastases. Both technologies have received regulatory approvals in various markets.