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) delivers innovative MRI-guided therapeutic solutions for prostate ablation, merging precision imaging with minimally invasive treatment. This news hub provides investors and healthcare professionals with timely updates on clinical advancements, regulatory milestones, and corporate developments shaping the future of image-guided therapies.
Access verified information on PROF's TULSA-PRO system adoption, partnership announcements, and financial performance. Our curated news collection features earnings reports, research publications, and market analysis to help stakeholders track the company's progress in advancing non-invasive treatment options.
Key coverage areas include FDA clearances, clinical trial outcomes, technology enhancements, and strategic collaborations. Stay informed about developments in therapeutic ultrasound applications and the growing adoption of closed-loop thermal control systems in urology practices worldwide.
Bookmark this page for direct access to primary source materials and expert commentary on PROF's role in transforming prostate cancer treatment paradigms through cutting-edge medical device innovation.
Profound Medical Corp. announced the voting results from its Annual General Meeting of Shareholders held on May 15, 2024. A total of 15,336,388 common shares, representing 62.78% of the outstanding shares, were represented. All proposals were approved by the majority vote. Six board nominees were elected: Arun Menawat (97.776% for), Brian Ellacott (98.269% for), Cynthia Lavoie (98.9% for), Murielle Lortie (97.623% for), Arthur Rosenthal (98.264% for), and Kris Shah (98.269% for). PricewaterhouseCoopers LLP was reappointed as the auditor for the next fiscal year.
Profound Medical has received FDA 510(k) clearance for its 'Contouring Assistant' AI module, designed to assist in creating automated TULSA treatment plans for prostate disease. This module utilizes deep learning with over 24 million parameters derived from 7,466 images and was validated in clinical studies by leading experts. The studies showed that urologists using the module improved segmentation accuracy and were 32% faster. TULSA is a non-invasive, one-session procedure using real-time MR guidance to treat prostate conditions while preserving urinary and sexual functions. CEO Arun Menawat emphasized the milestone's significance in improving treatment efficiency and confidence.
Profound Medical Corp. announced its first quarter 2024 financial results and issued full-year 2024 revenue guidance. The Company reported revenue of $1.91 million for Q1 2024, with 3% growth from the same period last year. Operating expenses increased by 9% to $8.8 million. Net loss for Q1 2024 was $6.2 million. The Company expects full-year 2024 revenue to range from $11.0 million to $12.0 million, representing significant growth. Profound had cash of $41.2 million and 24,428,899 common shares outstanding as of March 31, 2024.
Profound Medical Corp.'s TULSA procedure is gaining recognition as a mainstream treatment for prostate diseases, with 25 scientific research presentations this year alone. The clinical evidence showcases TULSA's efficacy in treating a diverse range of patients with localized prostate cancer and/or BPH. The company's CEO, Arun Menawat, highlights the positive outcomes from top medical centers worldwide, positioning TULSA as a leading treatment modality.
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