Profound Med Corp Stock Price, News & Analysis

Profound Medical Corp. (NASDAQ:PROF) reported Q2 2022 revenue of approximately $2.0 million, with significant growth of 48% sequentially driven by new Sonalleve® system sales. Recurring revenue was $1.16 million, while one-time sales of capital equipment totaled $864,000. Operating expenses rose to $8.7 million, an increase of 15% year-over-year. The net loss decreased to $5.9 million compared to $7.0 million in Q2 2021. Cash reserves stand at approximately $53.2 million.

The company aims to enhance commercialization of its TULSA-PRO® system.

Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) will release its Q2 2022 financial results after market close on August 4, 2022. A conference call is scheduled for 4:30 PM ET to discuss these results and recent business developments. The company focuses on customizable, incision-free therapies for diseased tissue using technologies like TULSA-PRO® and Sonalleve®, which have received various international approvals, including FDA clearance and CE marking.

Profound Medical Corp. (NASDAQ:PROF) has announced that CEO Arun Menawat will participate in a virtual panel on Focused Ultrasound at Cowen's 7th Annual FutureHealth Conference on June 23, 2022, at 9:55 a.m. ET. The discussion will not have a webcast but will be accessible to registered participants. Profound develops incision-free therapies for diseased tissue ablation, including TULSA-PRO® and Sonalleve®. TULSA-PRO® is FDA cleared and offers customizable prostate cancer treatments, while Sonalleve® treats uterine fibroids and bone metastases. Both technologies have various international approvals.

Profound Medical Corp. (NASDAQ:PROF) announced that management will present a business update at the 2022 Jefferies Global Healthcare Conference in New York City on June 9, 2022, at 4:30 p.m. ET. This presentation will be streamed live and archived on their website. The company develops incision-free therapies for tissue ablation, commercializing products like TULSA-PRO^® for prostate procedures and Sonalleve^® for uterine fibroids and pain management. Both technologies are CE marked and have gained various regulatory approvals.

Profound Medical Corp. clarifies recent insider trading activities amid investor inquiries, confirming open market purchases by executives. CEO Arun Menawat and Independent Lead Director Brian Ellacott collectively bought approximately US$763,000 worth of shares. Menawat acquired 60,516 shares at prices ranging from US$6.6548 to US$7.05. These transactions were disclosed to address shareholder concerns, as the company does not file on U.S. SEC forms that detail insider trading. Profound continues to focus on its innovative medical technologies.

Profound Medical Corp. (NASDAQ:PROF) announced successful demonstrations of its TULSA-PRO^® technology at the AUA 2022 Annual Meeting held from May 13-16. A highlight was a semi-live TULSA procedure conducted by Dr. Kenneth A. Goldberg, showcasing the device's capability in safely ablating prostate tissue. Additional presentations reported promising outcomes from a clinical study on benign prostatic hyperplasia (BPH). The company also launched the TULSA-PRO^® Software version 2.11, enhancing procedure accuracy with new imaging features. Feedback from the event was largely positive, supporting its commercialization strategy.

Profound Medical Corp. (NASDAQ:PROF) reported Q1 2022 revenue of $1.4 million, a 92% increase from $711,000 a year prior. Of this, $1.02 million came from recurring revenue. Operating expenses rose by 13% to $7.7 million, with net loss widening to $10.5 million, or $0.40 per share, from $8.5 million, or $0.37 per share, in Q1 2021. The company's cash position stood at $60.1 million. Profound emphasizes growth in TULSA procedure utilization and future revenue growth driven by international market activity.

Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) announced plans to present a business update at the Bloom Burton & Co. Healthcare Investor Conference on May 2, 2022, at 2:00 p.m. ET at the Metro Toronto Convention Centre. The presentation will be live-streamed and archived on their website. Profound specializes in incision-free therapies for tissue ablation, showcasing technologies like TULSA-PRO® for prostate treatment and Sonalleve® for uterine fibroids. Both technologies are CE marked and FDA cleared, indicating their regulatory compliance and potential market reach.

Profound Medical Corp. (NASDAQ: PROF) will announce its Q1 2022 financial results on May 9, 2022, following market close. The company's management will host a conference call at 4:30 p.m. ET to discuss the results and business developments. Profound specializes in incision-free therapies for tissue ablation, highlighted by its products like TULSA-PRO®, which integrates real-time MRI and ultrasound technology for prostate treatments. The company also offers Sonalleve®, targeting uterine fibroids and bone metastases pain, with multiple regulatory approvals.