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CHF Solutions (Nasdaq: CHFS) reported promising data from a retrospective study and case study highlighting the efficacy of Aquadex™ therapy for heart failure patients. At the 24th Annual Scientific Meeting of Heart Failure Society of America, results indicated significant fluid removal (14.58 liters) and weight loss (15.63 lbs), with decreased rehospitalization rates (12.4% at 30 days). The case study showcased successful outpatient ultrafiltration during COVID-19, stabilizing a 70-year-old heart failure patient. These findings bolster the potential of Aquadex therapy in clinical settings.
CHF Solutions (Nasdaq: CHFS) will participate in the Lake Street Capital Markets’ 4th Annual Best Ideas Growth Conference on September 17, 2020. Nestor Jaramillo, President, and Claudia Drayton, CFO, will engage in one-on-one meetings with investors. The company focuses on innovative medical devices to treat fluid overload, featuring the Aquadex SmartFlow™ system for ultrafiltration therapy. This system is indicated for both adult and pediatric patients and requires health care provider administration. CHF Solutions has been listed on Nasdaq since February 2012 and has subsidiaries in Australia and Ireland.
CHF Solutions (Nasdaq: CHFS) recently highlighted insights from a webinar featuring Dr. John L. Jefferies on treating fluid overload in heart failure patients. Notably, 90% of heart failure hospitalizations stem from fluid overload. Dr. Jefferies pointed out that while diuretics often yield mixed results, ultrafiltration, particularly using the Aquadex SmartFlow™ system, significantly reduces the risk of rehospitalization by 53%. Furthermore, ultrafiltration improves cardiac performance post-cardiac surgery. This educational outreach aims to enhance clinician knowledge on effective treatment options.
CHF Solutions (CHFS) announced it received a 180-day extension from Nasdaq to regain compliance with minimum bid price requirements, now due by February 24, 2021. CEO John Erb expressed confidence in meeting this requirement while focusing on revenue growth. The company highlights positive reception of its Aquadex™ System in treating fluid overload in various patient populations, including pediatric and critically ill COVID-19 patients.
CHF Solutions (Nasdaq: CHFS) commended a U.S. Congressional request for the US International Trade Commission (USITC) to investigate U.S.-sourced medical supplies for COVID-19. The bipartisan request aims to enhance medical supply security, particularly for the medical device sector. CEO John Erb highlighted the Aquadex SmartFlow system's role in treating COVID-19 patients, emphasizing its efficacy in managing fluid overload. The device allows precise fluid extraction, beneficial during this pandemic. CHF Solutions focuses on innovation in ultrafiltration therapy, with a commitment to patient care amid COVID-19 challenges.
CHF Solutions, Inc. (NASDAQ: CHFS) has successfully closed an underwritten public offering, generating approximately $14.37 million in gross proceeds, bolstered by the full exercise of the underwriter's over-allotment option. The offering consisted of 31,940,324 units, each priced at $0.45, including a share of common stock and a warrant for an additional share at the same price, expiring in five years. This transaction, facilitated by Ladenburg Thalmann & Co. Inc., aims to enhance CHF Solutions' liquidity for future growth.
CHF Solutions (NASDAQ: CHFS) announced an underwritten public offering of approximately $12.5 million, consisting of 27,774,195 units priced at $0.45 each. Each unit includes one share of common stock and a warrant to purchase an additional share at the same price, expiring on the fifth anniversary of issuance. The offering is expected to close around August 21, 2020. The underwriters have a 45-day option to purchase up to 4,166,129 additional shares and warrants to cover over-allotments. The offering follows SEC registration on Form S-1, effective August 18, 2020.
CHF Solutions (Nasdaq: CHFS) announced that its Aquadex product line has been included in the Federal Supply Schedule, enhancing access for federal agencies such as the Department of Veterans Affairs and the Department of Defense. This milestone streamlines the purchasing process, allowing wider availability of the Aquadex SmartFlow ultrafiltration system that manages fluid overload conditions. Previously, contracts were negotiated at individual VA hospitals, but now a federal agreement expedites the process for all facilities. CHF Solutions focuses on innovation for patients suffering from fluid overload.
CHF Solutions, Inc. (Nasdaq: CHFS) reported a revenue of $1.9 million for Q2 2020, marking a 14% increase from Q1 and an 11% rise from Q2 2019. The company hosted two physician-led webinars discussing treatment strategies for critically ill COVID-19 patients and initiated a distribution agreement in the UAE, expanding its Middle Eastern presence. CHF Solutions maintains $7.8 million in cash with no debt and closed registered direct offerings for proceeds of $3.4 million. CEO John Erb expressed optimism about the value they can deliver amidst market uncertainties.
CHF Solutions (CHFS) announced a distribution agreement with SysteMedic Ltd. for the Aquadex SmartFlow system in Israel and Palestine, marking its second partnership in the Middle East. This agreement aligns with CHF's strategy to expand ultrafiltration therapy access, crucial for heart failure patients, given that 90% of their hospitalizations stem from fluid overload. With regulatory approval pending, CHF aims to enhance patient care in these regions, highlighting the significance of ultrafiltration technology for effective fluid management.
