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. (PROF) is a commercial-stage medical device company that regularly issues news on its AI-powered, MRI-guided, incision-free therapies for tissue ablation. The company’s updates frequently center on its TULSA-PRO system and the TULSA Procedure™, which are used to treat prostate cancer and benign prostatic hyperplasia (BPH) using robotically controlled, transurethral ultrasound under real-time MRI guidance.
News coverage for Profound often highlights new clinical milestones, such as first commercial TULSA-PRO cases at major academic hospitals, expansion of TULSA-PRO programs at imaging suites, and recognition of clinical trial data comparing the TULSA Procedure to robotic radical prostatectomy. Releases also describe real-world experience across the prostate disease spectrum, including cancer-only, hybrid cancer and BPH cases, BPH-only patients, and salvage therapy for radio-recurrent localized prostate cancer.
Investors and clinicians following PROF can also expect announcements on regulatory and commercial developments. These include exclusive distribution and supply agreements for TULSA-PRO and Sonalleve in regions such as Canada, Saudi Arabia, Australia and New Zealand, as well as financing transactions like registered direct offerings and private placements used to support sales expansion, research and development, and working capital.
In addition, Profound’s news flow covers product enhancements such as the TULSA-AI® Volume Reduction module for BPH, new clinical data presented at medical meetings, and updates on the installed base and qualified sales pipeline for TULSA-PRO systems. This page aggregates these company-issued releases and related coverage, offering a single location to review the latest developments affecting Profound Medical’s technologies, commercial footprint and capital markets activity.
Profound Medical Corp. (NASDAQ:PROF) reported its Q1 2021 financial results with revenue of approximately $711,000, a decline of 39% from $1.2 million in Q1 2020. This revenue includes $234,000 from a capital equipment sale and $477,000 from recurring revenue. Total operating expenses rose to $6.8 million, up 28% year-over-year. The net loss was around $7.5 million, or $0.37 per share. Despite early pandemic impacts, the company anticipates potential revenue recovery throughout 2021, with cash reserves at $78.5 million.
Profound Medical Corp. (NASDAQ:PROF) has announced a multi-site imaging center agreement with Akumin Inc. to integrate TULSA-PRO® systems at up to 10 Akumin centers, focusing on men’s health. The partnership aims to enhance prostate care services, particularly in Florida. The first TULSA-PRO® site is expected to be operational in Q4 2021. TULSA-PRO® offers customizable, incision-free treatments for prostate diseases, enhancing patient quality of life.
Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) will release its Q1 2021 financial results on May 12, 2021, after market close. Management will host a conference call at 4:30 p.m. ET to discuss the results and business developments. The call will be accessible via telephone and also broadcast live on the Company’s website. Profound Medical specializes in incision-free therapies for tissue ablation, notably the TULSA-PRO® and Sonalleve® technologies, which are advancing in the medical device market.
Profound Medical Corp. (NASDAQ:PROF) announced on April 14, 2021, that management will present an update on their business at the 2021 Bloom Burton & Co. Virtual Healthcare Investor Conference on April 21, 2021, at 1:30 p.m. ET. The presentation will be available for live streaming and archived on their website in the Investors section. Profound is known for its innovative, incision-free therapies for treating diseased tissue, including TULSA-PRO® for prostate cancer and Sonalleve® for uterine fibroids and pain management.
Profound Medical Corp. (NASDAQ:PROF) has appointed Cynthia Lavoie, Ph.D., MBA, to its Board of Directors, enhancing its leadership team. Dr. Lavoie brings 18 years of healthcare investment experience, including roles at AllosteRx Capital Management and TVM Life Science Management. Her background in venture capital and corporate governance is expected to strengthen Profound's strategy in customizable medical devices. Profound continues to innovate with TULSA-PRO® and Sonalleve®, advanced technologies for treating prostate cancer and uterine fibroids, respectively.
Profound Medical Corp. (NASDAQ:PROF) reported Q4 2020 revenue of approximately $2.9 million, a 36% year-over-year growth. Total operating expenses rose by 14% to $6.1 million, leading to a net loss of $7.5 million, or $0.38 per share. For the full year, revenue was approximately $7.3 million, up 75% from 2019, while total operating expenses increased by 29% to $22.3 million, resulting in a net loss of $21.6 million, or $1.25 per share. As of December 31, 2020, cash balances stood at $83.9 million. The company aims to enhance U.S. market adoption of its TULSA-PRO® technology despite COVID-19 challenges.
Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) announced participation in two investor conferences in March 2021.
Key events include:
- Raymond James 42nd Annual Institutional Investors Conference: March 3, 2021, at 7:30 a.m. ET.
- Cowen 41st Annual Health Care Conference: March 4, 2021, at 9:10 a.m. ET.
Both fireside chats will be live-streamed and archived on the company's website. Profound is known for its incision-free therapies for ablation of diseased tissue, particularly the TULSA-PRO® and Sonalleve® technologies.
Profound Medical Corp. (NASDAQ:PROF) announced its participation in a fireside chat at the BTIG Virtual MedTech Conference on February 18, 2021, at 12:00 p.m. ET. The event will be broadcast live and available for later viewing on the company’s website. Profound specializes in customizable, incision-free therapies for the ablation of diseased tissue, focusing on technologies like TULSA-PRO® and Sonalleve®. TULSA-PRO® targets prostate cancer, while Sonalleve® addresses uterine fibroids and bone metastases. Both technologies hold health regulatory approvals, including CE marking and FDA clearance.
Profound Medical Corp. (NASDAQ: PROF) plans to announce its fourth quarter and full year 2020 financial results on March 2, 2021, post-market close. Management will host a conference call at 4:30 p.m. ET for reviewing these results and discussing business developments. Profound specializes in customizable, incision-free therapies, notably TULSA-PRO® for prostate ablation and Sonalleve® for treating uterine fibroids. The company's technologies are CE marked, FDA cleared, and hold various international approvals.
Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) plans to release its third quarter 2020 financial results on November 5, 2020, after market close. A conference call to discuss the findings will occur at 4:30 p.m. ET the same day. Profound is a leading medical device company specializing in customizable, incision-free therapies for tissue ablation. Its key technologies include TULSA-PRO®, designed for radiation-free prostate ablation, and Sonalleve®, which treats uterine fibroids and palliative pain. Both technologies have received necessary regulatory approvals, enhancing the company's market position.
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