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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 participation in two investor conferences this June. The Jefferies Virtual Healthcare Conference will feature a fireside chat on June 1, 2021, at 10:00 a.m. ET, while the Raymond James Human Health Innovations Conference is set for June 22, 2021, at the same time. These events will be streamed live on the Company’s website. Profound specializes in customizable, incision-free therapies for ablation, including TULSA-PRO® for prostate treatment and Sonalleve® for uterine fibroids.
Profound Medical Corp. held its Annual Meeting of Shareholders on May 19, 2021, with 58.044% of shares represented. All proposed matters were approved, including the election of seven directors, receiving over 97% support. PricewaterhouseCoopers LLP was appointed as auditors until the next annual meeting. Notably, Rashed Dewan was appointed as Chief Accounting Officer, while Aaron Davidson transitioned to SVP Corporate Development, no longer serving as CFO. Profound specializes in incision-free therapies, notably the TULSA-PRO® and Sonalleve® technologies for prostate and uterine treatments.
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.