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; TSX:PRN), a commercial-stage medical device company specializing in incision-free ablation therapies for diseased tissue, has announced it will release its fourth quarter and full year 2024 financial results after market close on Thursday, March 6, 2025.
The company will host a conference call at 4:30 p.m. ET on the same day, where management will review financial results and discuss business developments. The call will be accessible through online registration and will also be broadcast live and archived on the company's website under the Investors section.
Profound Medical Corp. (NASDAQ:PROF; TSX:PRN), a commercial-stage medical device company specializing in incision-free ablation therapies, announced a schedule change for its presentation at the 43rd Annual J.P. Morgan Healthcare Conference. The presentation has been moved to 9:00 a.m. Pacific Time on Thursday, January 16, 2025. Interested parties can access the live broadcast and archived recording through the 'Webcasts' section of the company's website at www.profoundmedical.com.
Profound Medical (NASDAQ:PROF) announced preliminary unaudited revenues for Q4 and full year 2024. The company expects Q4 2024 revenue between $4.1-4.2 million, representing 105-110% year-over-year growth and 45-48% sequential growth. Full year 2024 revenue is anticipated at $11.1-11.2 million, compared to $7.2 million in 2023.
Starting January 1, 2025, Profound will transition to reporting financial results under U.S. GAAP and file domestic forms with the SEC, while maintaining SEDAR+ filings in Canada. The company recently completed an underwritten public offering of common shares and achieved unique reimbursement for its TULSA procedure at Urology APC Level 7 across multiple treatment settings.
Profound Medical Corp (NASDAQ:PROF; TSX:PRN), a commercial-stage medical device company specializing in incision-free ablation therapies for diseased tissue, has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference. The company's management will deliver a business update presentation on Thursday, January 16, 2025, at 11:15 a.m. Pacific Time in San Francisco, CA.
The presentation will be accessible to interested parties through a live broadcast and will subsequently be archived on the company's website at www.profoundmedical.com in the Investors section under 'Webcasts'.
Profound Medical Corp (NASDAQ: PROF) has successfully closed its underwritten public offering of common shares, raising US$40.25 million in gross proceeds. The offering, priced at US$7.50 per share, included the full exercise of the over-allotment option, resulting in the issuance of 5,366,705 common shares.
The net proceeds will be allocated to fund the commercialization of TULSA-PRO® system in the United States, support global development and commercialization of both TULSA-PRO® and Sonalleve® systems, and provide working capital for general corporate purposes. Raymond James and Lake Street Capital Markets served as co-lead underwriters and joint bookrunners for the offering.
Profound Medical (NASDAQ: PROF) announced the pricing of an underwritten public offering of 4,666,700 common shares at US$7.50 per share, expecting to raise approximately US$35 million in gross proceeds. The company granted underwriters a 30-day option to purchase up to 700,005 additional shares.
The net proceeds will fund the TULSA-PRO® system commercialization in the United States, support global development and commercialization of both TULSA-PRO® and Sonalleve® systems, and provide working capital. The offering, expected to close around December 10, 2024, is co-led by Raymond James and Lake Street Capital Markets.
Profound Medical Corp (NASDAQ: PROF) has announced a proposed public offering of common shares. The company plans to grant underwriters a 30-day option to purchase up to an additional 15% of the offered shares. The net proceeds will be used to fund the commercialization of TULSA-PRO® system in the US, continue development and commercialization of TULSA-PRO® and Sonalleve® systems globally, and for working capital purposes.
The offering is expected to close around December 10, 2024, with Raymond James and Lake Street Capital Markets acting as co-lead underwriters. The offering will be available in all Canadian provinces and territories (except Quebec) and in the United States, subject to necessary approvals including Toronto Stock Exchange approval.
Profound Medical has entered into a co-sales and co-marketing agreement with Siemens Healthineers to commercialize a new MRI-guided prostate therapy solution combining Profound's TULSA-PRO® system with Siemens' Magnetom Free.Max MR scanner. The TULSA procedure uses real-time MR guidance for precise prostate tissue ablation while preserving urinary continence and sexual function. The partnership aligns with CMS's 2025 Final Rule establishing Urology APC Level 7 reimbursement for TULSA procedures across hospital outpatient, ambulatory surgical center, and private office settings. The combined solution is expected to launch in 2025, pending compatibility completion.
Profound Medical (NASDAQ:PROF) announces the launch of its third TULSA-AI® software module, UA Alignment Assistant, designed to streamline the alignment of the ultrasound applicator during TULSA procedures. The company will showcase this innovation alongside six presentations featuring the TULSA procedure at the upcoming RSNA 2024 and SUO 2024 meetings.
The TULSA-PRO® system offers an incision-free, radiation-free treatment for various prostate conditions, including cancer and BPH. The procedure uses real-time MR guidance and precise sound absorption technology, heating targeted tissue to 55-57°C while preserving urinary continence and sexual function. The new UA Alignment Assistant module aims to improve workflow consistency by automating the MR image alignment process.
Profound Medical Corp. (NASDAQ:PROF; TSX:PRN), a commercial-stage medical device company specializing in customizable, incision-free therapies, will present an update at the Stifel 2024 Healthcare Conference on Tuesday, November 19, 2024, at 9:45 a.m. Eastern Time in NYC.
The presentation will be available live and archived on the Company's website under the 'Webcasts' section in the Investors area.