Profound Med Corp Stock Price, News & Analysis

Profound Medical Corp. (NASDAQ: PROF) reported its financial results for Q4 and the full year 2022. Q4 revenue reached approximately $1.3 million, a 26% increase from the prior year, driven entirely by recurring revenue from TULSA-PRO® consumables and related services. Operating expenses decreased by 8% to $9.4 million. The net loss for Q4 was $9.5 million, or $0.46 per share. For the full year, total revenue was approximately $6.7 million, down slightly from $6.9 million in 2021, with a notable decline in one-time capital sales due to COVID-19 challenges. The company maintains a cash balance of $46.5 million as of December 31, 2022.

Profound Medical Corp. (NASDAQ: PROF; TSX: PRN) announced that CEO Arun Menawat will present a business update at the 43rd Annual Cowen Health Care Conference on March 8, 2023, at 9:10 a.m. ET. The presentation will be live-streamed and archived on the Company’s website under the Investors section.

Profound specializes in customizable, incision-free therapies for diseased tissue ablation. Its flagship products include TULSA-PRO®, designed for precise prostate ablation, and Sonalleve®, used for treating uterine fibroids and palliative pain. Both technologies have received multiple regulatory approvals.

Profound Medical Corp. (NASDAQ:PROF) announced it will release its fourth quarter and full year 2022 financial results on March 7, 2023, after market close. A conference call is scheduled for the same day at 4:30 p.m. ET to discuss these results and business developments. Profound specializes in customizable, incision-free therapies for tissue ablation, notably through its products TULSA-PRO and Sonalleve. Both technologies hold various medical approvals, enhancing the company’s market footprint. Investors can access the live call through a registration link provided in the announcement.

Profound Medical Corp. (NASDAQ: PROF; TSX: PRN) announced that CEO Arun Menawat will present a business update at the Jefferies London Healthcare Conference on November 15, 2022, at 12:20 p.m. GMT. The presentation will be broadcast live and archived on the Company's website under 'Webcasts' in the Investors section.

Profound specializes in customizable, incision-free therapies for the ablation of diseased tissue, including TULSA-PRO® for prostate treatment and Sonalleve® for uterine fibroids and bone metastases.

Profound Medical Corp. (NASDAQ:PROF) reported Q3 2022 revenue of approximately $2.0 million, down from $2.5 million year-over-year. Recurring revenue rose 14% to $1.2 million, while capital equipment sales fell 45% to $800,000. Total operating expenses increased 8% to $9.3 million, with R&D expenses rising 17% to $4.7 million. A net loss of $5.0 million was reported, an improvement from a $6.0 million loss in Q3 2021. As of September 30, 2022, cash reserves stood at approximately $46.2 million, excluding proceeds from a subsequent $10 million term loan.

Profound Medical Corp. (NASDAQ: PROF) will announce its Q3 2022 financial results on November 3, 2022, after market close. A conference call is scheduled for 4:30 p.m. ET to review the results and discuss business developments. The company specializes in customizable, incision-free therapies for tissue ablation, notably its TULSA-PRO® and Sonalleve® technologies, which have received various regulatory approvals. These innovations target conditions such as prostate cancer and uterine fibroids.

Profound Medical Corp. (NASDAQ: PROF) announced updated results from its pivotal TACT study on TULSA-PRO^® for prostate cancer during the FOCAL 2022 Conference in Los Angeles. The trial, involving 115 patients, demonstrated sustained efficacy with a 95% reduction in PSA at one year, reaching a nadir of 0.28 ng/ml by four years. Safety outcomes showed no severe adverse events, and 87% of patients retained sexual function. These findings support the device’s potential in the market and are anticipated to be validated by ongoing clinical trials.

Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) has announced significant management changes aimed at enhancing sales and global growth. Abbey Goodman and Hartmut Warnken have been appointed Chief Commercial Officers for the U.S. and international markets, respectively, succeeding Kenneth Knudson. Notably, Profound achieved its first North American sales of Sonalleve® systems and anticipates expanding TULSA-PRO® installations to 35 by year-end. The company is focused on securing a CPT® Category 1 code for its TULSA technology, with plans to submit an updated application in 2023.

Profound Medical Corp. (NASDAQ: PROF) announced participation in two investor conferences in September 2022. The Lake Street’s 6th Annual BIG Conference will occur on September 14, 2022, followed by A.G.P.’s Virtual MedTech Conference on September 21, 2022. Both events will include one-on-one meetings, but no webcasts will be available. Profound specializes in incision-free therapies for tissue ablation, notably the TULSA-PRO® and Sonalleve® technologies, which are CE marked and FDA cleared for various medical applications.