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Ceribell (Nasdaq: CBLL), a medical technology company, reported third quarter 2024 financial results, showcasing a 48% increase in total revenue to $17.2 million compared to Q3 2023. Gross margin improved to 87% from 84% in the same period last year. The company ended the quarter with 504 active accounts and completed an IPO, raising $188 million in net proceeds. Product revenue rose by 52% to $13.3 million, while subscription revenue increased by 36% to $3.9 million. Despite these gains, operating expenses surged by 48% to $24.9 million, leading to a net loss of $10.4 million for the quarter, up from $7.1 million in Q3 2023. Cash and cash equivalents stood at $14.1 million as of September 30, 2024. Ceribell projects full-year 2024 revenue between $64.2 million and $64.7 million, marking a growth of 42% to 43% over the prior year.
Ceribell (NASDAQ: CBLL) has received Authority to Operate (ATO) from the Department of Veterans Affairs, enabling full deployment of its point-of-care EEG technology across VA hospitals. This authorization allows Ceribell to leverage VA Wi-Fi networks for remote access to EEG reports and data sharing between locations. The system, which has been used in certain VA facilities since 2018, aims to reduce costly ICU admissions and intra-facility patient transfers while supporting timely interventions for veterans, who face elevated risks of seizure disorders. The Ceribell System combines portable hardware with AI-powered algorithms for rapid diagnosis and continuous monitoring, and has been adopted by over 500 hospitals, serving more than 100,000 patients.
Ceribell (Nasdaq: CBLL), a medical technology company specializing in neurological condition diagnosis and management, has announced its participation in the Canaccord Genuity MedTech, Diagnostics and Digital Health & Services Forum. CFO Scott Blumberg will engage in a fireside chat on Thursday, November 21, 2024, at 10:00 a.m. PST / 1:00 p.m. EST. The event will be accessible via live and archived webcast through Ceribell's Investor Relations website section.
Ceribell (Nasdaq: CBLL), a commercial-stage medical technology company focusing on neurological condition diagnosis and management, has scheduled its Q3 2024 financial results release for November 12, 2024, after market close. The company will host a conference call at 1:30 p.m. PT / 4:30 p.m. ET to discuss the results. Investors can join via phone using access code 7168007 or watch the webcast through Ceribell's investor relations website.
Ceribell (Nasdaq: CBLL) presented five abstracts at the 2024 Neurocritical Care Society Annual Meeting, showcasing new clinical evidence for its point-of-care EEG system and AI-powered Clarity™ algorithm. Key findings include:
1. Shorter median hospital stays and 33% lower likelihood of significant functional disability at discharge for patients monitored with Ceribell.
2. Link between Clarity seizure burden and poor functional outcomes.
3. Reliable signal quality for up to 24 hours of continuous monitoring.
4. Variability in clinicians' EEG interpretation, highlighting the need for AI standardization.
5. Improved detection of status epilepticus with the latest Clarity version.
The Ceribell System, FDA 510(k) cleared for indicating suspected seizure activity, has been adopted by over 500 hospitals and used to diagnose and monitor over 100,000 patients.
CeriBell, Inc. (Nasdaq: CBLL), a medical technology company focused on neurological conditions, has successfully closed its upsized initial public offering (IPO). The company sold 12,196,969 shares of common stock at $17.00 per share, including 1,590,909 additional shares from the full exercise of the underwriters' option. The IPO raised approximately $207.3 million in gross proceeds before deducting underwriting discounts, commissions, and other expenses.
CeriBell's common stock began trading on the Nasdaq Global Select Market on October 11, 2024, under the ticker symbol CBLL. BofA Securities and J.P. Morgan served as joint book-running managers and representatives of the underwriters, with William Blair, TD Cowen, and Canaccord Genuity acting as co-managers for the offering.
CeriBell, Inc. (Nasdaq: CBLL), a commercial-stage medical technology company, has announced the pricing of its upsized initial public offering. The company is offering 10,606,060 shares of common stock at a public offering price of $17.00 per share. CeriBell has also granted underwriters a 30-day option to purchase up to an additional 1,590,909 shares at the initial offering price.
Trading of the shares is expected to begin on the Nasdaq Global Select Market on October 11, 2024, under the ticker symbol 'CBLL'. The gross proceeds from the offering are anticipated to be approximately $180.3 million, excluding any exercise of the underwriters' option. The offering is expected to close on October 15, 2024, subject to customary closing conditions.
BofA Securities and J.P. Morgan are acting as joint book-running managers and representatives of the underwriters, with William Blair, TD Cowen, and Canaccord Genuity serving as co-managers for the offering.
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