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Biotricity, Inc. (BTCY) is a medical technology company at the forefront of healthcare innovation. Specializing in biometric data monitoring solutions, Biotricity aims to improve healthcare by developing remote monitoring solutions for chronic disease prevention and management. Its premier product, Bioflux, is an ECG monitoring system used by physicians to diagnose and monitor cardiac patients remotely. Biotricity's Biolife solution extends medical-grade monitoring to the consumer market, empowering users to self-manage chronic conditions through lifestyle changes. With a focus on preventive healthcare, Biotricity's R&D efforts aim to put health management directly into the hands of individuals, easing the burden on the healthcare system.
Biotricity (BTCY) reported Q3 FY22 financial results with a remarkable 93% year-over-year revenue increase to $1.93 million, outpacing the 40% increase in SG&A. The company's cash position reached a historic $16.8 million. Despite a net loss of $7.34 million due to one-time expenses, adjusted loss is $6.0 million. Biotricity anticipates continued triple-digit revenue growth for the full year, fueled by the launch of innovative products like Bioheart and the FDA-cleared Biotres, expanding its addressable market significantly.
SWK Holdings Corporation (Nasdaq: SWKH) updated its portfolio performance for the second half of 2021, highlighting new financings including $10 million to MolecuLight and $12 million to Biotricity (NASDAQ: BTCY). CEO Winston Black noted that 2022 aims to restore deal origination to historical levels. Enteris BioPharma's partnership with Cara Therapeutics is advancing with a $5 million milestone payment. Additionally, Biolase (NASDAQ: BVS) anticipates a 44-47% revenue increase for the fourth quarter. SWK focuses on providing flexible financing solutions to small and mid-sized life science companies.
Biotricity (NASDAQ:BTCY) is set to release its third quarter fiscal 2022 financial results on February 14, 2022, after the market closes. Management will discuss the results during a conference call on February 15, 2022, at 4:15 p.m. EST. The company anticipates 2022 as a breakout year, emphasizing the commercial launch of Bioheart and FDA clearance for Biotres. Biotricity focuses on remote health monitoring and chronic care management, aiming to enhance preventive and personal care for patients.
Biotricity, Inc. (NASDAQ:BTCY) has received 510(k) clearance from the FDA for its Biotres cardiac monitoring device, targeting the $2 billion holter market.
This innovative device allows continuous 3-channel ECG recordings for lower-risk patients, with features including a rechargeable battery, wireless connectivity, and user-friendly design. Biotres expands Biotricity's Total Addressable Market from $1 billion to $5.7 billion, with sales expected to begin on April 1, 2022. The CEO emphasizes its potential to enhance cardiac care and reduce costs.
Biotricity Inc. (NASDAQ:BTCY) has launched its Bioheart heart monitor system on Amazon.com, enhancing consumer access to advanced cardiac monitoring without a prescription. Priced at $199, the device is available for a limited introductory price of $149. The Bioheart offers continuous 24/7 data collection, advanced analytics, and innovative features like retrospective snapshots of heart data. This expansion not only opens new revenue streams for Biotricity but also targets a $1.24B market. The product aims to transform cardiac health monitoring through a virtual cardiac clinic ecosystem.
Biotricity Inc. (NASDAQ:BTCY) has successfully completed a $12 million non-convertible debt financing with SWK Funding LLC to replace existing debt and support inventory and annual recurring revenue (ARR) subscriptions. The financing includes a five-year term with an interest-only period of two years, leading to a 40% balloon payment at maturity. This capital infusion strengthens Biotricity's balance sheet without diluting equity shareholders and positions the company for upcoming product launches in 2022.
Biotricity (NASDAQ:BTCY) has released its December 2021 CEO Shareholder Letter, outlining key milestones and growth strategies for 2022. The Company reports a record quarterly revenue of $1.81 million, representing a 143% year-over-year increase. Significant achievements include its recent uplisting to Nasdaq, aimed at attracting institutional investors and enhancing liquidity. The shareholder letter highlights the successful commercialization of the Biokit and outlines future goals, including the launch of innovative cardiac monitoring solutions.
Biotricity (NASDAQ:BTCY) has launched Bioheart, an innovative heart monitor that allows users to access continuous heart monitoring technology directly via a smartphone app. Bioheart targets a growing market valued at
Biotricity Inc. (NASDAQ:BTCY) reported its tenth consecutive quarter with triple-digit year-over-year revenue growth, achieving $1.81 million in Q2-FY22, a 143% increase compared to the prior year. The company incurred a net loss of $11 million, primarily due to $5.46 million in one-time expenses linked to its Nasdaq up-listing. Biotricity's balance sheet is robust, with $11.7 million in cash. The company introduced Biokit, a home-use cardiac monitoring device anticipated to launch in early 2022, indicating a strong product pipeline aimed at improving patient outcomes.
Biotricity, Inc. (BTCY) has announced the release of its financial results for the second quarter, ending September 30, 2021, scheduled for November 4, 2021, after market close. The company will host a conference call and live webcast at 2:00 PM PT (5:00 PM ET) on the same day to discuss the results. Biotricity focuses on remote health monitoring solutions, aiming to enhance preventive and personal care for chronic conditions.
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