Welcome to our dedicated page for Vivos Therapeutics news (Ticker: VVOS), a resource for investors and traders seeking the latest updates and insights on Vivos Therapeutics stock.
Vivos Therapeutics, Inc. (symbol: VVOS) is a leading medical technology company dedicated to providing innovative solutions for patients suffering from sleep disordered breathing (SDB), particularly mild-to-moderate obstructive sleep apnea (OSA). The company specializes in the development and commercialization of proprietary treatment protocols and customized oral appliances, known collectively as the Vivos System. This non-surgical, non-invasive, and non-pharmaceutical system is designed to address craniofacial and anatomical anomalies associated with OSA, offering a cost-effective alternative to traditional treatments.
The Vivos System combines the expertise of specially trained dentists and medical professionals to deliver comprehensive care. Through its Vivos Integrated Healthcare Network, the company enables healthcare providers, including general dentists, medical doctors, myofunctional therapists, and chiropractors, to offer targeted therapies for SDB. Additionally, Vivos licenses its intellectual property to third-party manufacturers to fabricate these advanced appliance devices, expanding its reach and impact.
Recent developments at Vivos Therapeutics highlight the company's commitment to improving patient outcomes. The favorable update to United Healthcare's medical policy now endorses oral appliance therapies, potentially increasing the adoption of Vivos devices. Furthermore, the recall of numerous CPAP devices by ResMed and Philips Respironics presents a significant revenue opportunity for Vivos.
The company has also achieved a significant milestone with the introduction of the first Medicare-accepted oral appliance treatment for all severities of obstructive sleep apnea in adults. This breakthrough enhances the accessibility of effective OSA treatment to a broader patient population.
Vivos Therapeutics continues to position itself as a pioneer in the medical technology space, driven by its mission to improve the quality of life for patients with sleep-disordered breathing. Stay informed about Vivos Therapeutics' latest news and developments to understand the dynamic landscape of this innovative company.
Vivos Therapeutics announced positive results from a 7-month, multi-site pilot of its new provider-based marketing and distribution model. Conducted in seven dental and one ENT office, the pilot involved 99 patients with diverse demographics. 79% of newly diagnosed adult OSA patients preferred Vivos' oral appliance therapy over CPAP, with Vivos' devices chosen 5 to 1 over traditional appliances. Pediatric patients with orofacial issues were also successfully treated. Vivos aims to drive revenue through collaborations with dentists and sleep specialists, expecting positive impacts on new cases, revenue growth, and gross profit.
Vivos Therapeutics (NASDAQ: VVOS) announced a $7.5 million private equity investment from Seneca Partners to support a new strategic alliance with sleep treatment centers in Colorado. The alliance aims to enhance revenue through a new marketing and distribution model for Vivos' OSA treatment devices, starting with two centers in July 2024. Vivos intends to expand this model nationally. The investment boosts Vivos' cash reserves and shareholders' equity. Seneca will also offer management advisory services. Key investment terms include the purchase of 3,220,266 shares and associated warrants, with an 'at the market' price of $2.329 per share.
Vivos Therapeutics (NASDAQ: VVOS) reported Q1 2024 financial results, highlighting a 22% reduction in operating expenses and a gross margin of 57%. Revenue for Q1 2024 was $3.4 million, down from $3.8 million in Q1 2023, due to lower VIP enrollments and CARE appliance revenue. However, revenue from pediatric and lifeline appliances and home sleep testing services increased. Gross profit was $1.9 million. Despite revenue decline, cost-cutting initiatives reduced operating loss by 24% year-over-year. Cash and cash equivalents were $2.6 million. Over 42,600 patients have been treated with Vivos' devices, and regulatory approvals for Medicare reimbursement were obtained in April 2024. The company expects positive cash flow by end-2024, driven by new strategic revenue initiatives and improved market conditions.
Vivos Therapeutics (NASDAQ: VVOS), a key player in medical devices for sleep-related breathing disorders, will release its Q1 2024 financial results today, May 14, 2024, after market close. The company will hold a conference call at 5:00 p.m. ET to discuss financial results and recent milestones. Investors can join the call via provided phone numbers or access a live webcast on the company's website. A replay of the call will be available until May 28, 2024.
FAQ
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