Catheter Precision - VTAK STOCK NEWS

Catheter Precision, Inc. (NYSE American: VTAK) has released its Q2 2024 financial results and operational report. Key highlights include:

• First commercial sales of LockeT in the US
• 14 new sales and clinical hires
• 23 hospitals scheduled for LockeT evaluations, 10 for VIVO
• VIVO evaluation started at a large volume center in Italy
• Total assets of $26 million as of June 30, 2024
• Total revenues of $93,000 for Q2 and $175,000 for H1 2024
• Net loss of $4.2 million for Q2 and $6.9 million for H1 2024
• LockeT sales of $38,000 for both Q2 and H1 2024

CEO David Jenkins emphasized the company's focus on acquiring talent to support their new sales strategy under the new Chief Commercial Officer.

Catheter Precision, Inc. (NYSE American:VTAK) has announced the publication of its first LockeT study in the Journal of Cardiovascular Electrophysiology. The study, involving 102 patients and 182 LockeT devices, demonstrates the effectiveness and safety of LockeT, a novel external compression vascular closure device. Key findings include:

• Immediate hemostasis achievement
• 98% hemostasis retention at 2 hours
• No major complications observed
• Majority of patients discharged same day
• Average time to ambulation under 4 hours

The study suggests LockeT offers benefits similar to manual compression without prolonged bed rest or monitoring, facilitating early mobilization and same-day discharge. Further studies are ongoing, with the next one expected to conclude this year.

Catheter Precision (NYSE American:VTAK) has reached a significant milestone in its LockeT-II Study, enrolling 75 patients. The study, part of a three-phase clinical trial, is expected to conclude in October 2024. This Phase II trial compares LockeT to manual compression, the current standard of care, in a randomized study of up to 100 patients.

The study aims to further evaluate LockeT's safety and effectiveness, as well as potential benefits such as pain reduction and cost savings. The successful completion of Phase I in 2023 demonstrated LockeT's functionality and safety, leading to the product's roll-out in early 2024. Final data analysis from Phase II will be submitted for peer-reviewed publication.

Catheter Precision, Inc. (NYSE American:VTAK) has announced the completion of patient follow-up for the VIVO European Registry, which enrolled 125 patients from October 2021 to June 2023. The registry aims to collect real-world data on VIVO's use and benefits for pre-procedure planning of ventricular ablation. Data is expected to be available in Q4 2024.

Additionally, the company reported new product evaluations of VIVO. Three European hospitals, including Manchester University NHS, Wythenshawe Hospital (UK), Institute for Clinical and Experimental Medicine (Prague), and Cardinal Massaia Hospital (Italy), are beginning evaluations in July. Two US hospitals in California and Washington are also scheduled to start VIVO procedures this month as part of initial evaluations.

Catheter Precision, Inc. (NYSE American: VTAK) has implemented a 1-for-10 reverse stock split effective July 15, 2024. The company's common stock will continue trading on the NYSE American under the symbol 'VTAK' with a new CUSIP number 74933X 609. This move reduces the number of issued shares from 9,012,518 to approximately 901,251. The split aims to ensure compliance with NYSE American's minimum stock price requirement, lower Delaware franchise taxes, and potentially broaden the investor base. No fractional shares will be issued, and affected stockholders will receive pro-rata proceeds from the sale of fractional shares. The split does not alter stockholders' equity percentage or impact market capitalization.

Catheter Precision (NYSE American: VTAK) has reported preliminary unaudited revenue for Q2 and the first half of 2024. The company, known for its innovations in cardiac electrophysiology, saw a 15% quarter-over-quarter revenue growth. Initial sales of the new LockeT product contributed $40,500, while VIVO products added $54,340. Total revenue for Q2 2024 amounted to $94,840, with the six-month figure reaching $176,923. CEO David Jenkins credits the early success to the new sales team, led by Chief Commercial Officer Marie Claude Jaques. The company anticipates continued growth with a promising customer pipeline.

Catheter Precision announced the receipt of its first purchase order for VIVO from Qatar. The VIVO device aids in streamlining ventricular ablation procedures, potentially saving time and reducing patient complications. This order follows an initial evaluation completed earlier this year at Hamad Medical Heart Hospital in Doha. The company aims to continue its expansion strategy in the Middle East.

Catheter Precision announced a new purchase order for its medical device, LockeT, from Eisenhower Medical Center in Rancho Mirage, California. This marks the third hospital in California and the second in the U.S. to move beyond evaluation and approve orders for future use. The company has expanded its U.S. sales and clinical team to prepare for LockeT's national launch. LockeT aims to streamline procedures in operating and recovery rooms, potentially saving time and money. Chief Commercial Officer, Marie-Claude Jacques, expressed confidence in LockeT's growing recognition and the success of their commercial strategy.

Catheter Precision, Inc. (NYSE: VTAK) announced initial orders from Ronald Reagan UCLA Medical Center and Rady Children’s Hospital in San Diego for their newest product, LockeT. The company has expanded their US sales and clinical team in preparation for the national product launch, resulting in increased product evaluations and purchase orders.