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CHF Solutions, Inc. (NASDAQ: CHFS) will release its Q2 2020 financial results on August 4, 2020, at 9:00 AM ET. A conference call will follow, during which management will discuss performance and provide a business overview. The company specializes in medical devices aimed at treating fluid overload, with a focus on the Aquadex SmartFlow™ system. CHF Solutions has been publicly traded on Nasdaq since February 2012.
CHF Solutions (CHFS), a medical device company, highlighted important insights from a webinar led by Dr. David Askenazi on pediatric fluid overload treatment. Dr. Askenazi emphasized that fluid overload is a critical issue in pediatric patients, affecting recovery from various health conditions. He advocates for accurate fluid volume monitoring as a vital sign and favorably noted the Aquadex FlexFlow System's effectiveness, where 97% of participants in a study survived with minimal complications. CHF Solutions aims to promote awareness and education regarding this innovative therapy for enhancing pediatric care.
CHF Solutions (CHFS) announced a distribution agreement with RenalSense to market Clarity RMS™ in selected U.S. territories. Clarity RMS continuously monitors urine flow, providing real-time data to address fluid overload conditions, particularly in COVID-19 and heart failure patients. This partnership aims to enhance patient care by enabling early detection of acute kidney injury (AKI), which is critical since untreated hypervolemia can lead to increased healthcare costs and mortality. CHF Solutions emphasizes their commitment to improving clinical outcomes through innovative solutions.
CHF Solutions (Nasdaq: CHFS) announced the promotion of Nestor Jaramillo, Jr. to President and Chief Operating Officer, effective July 1, 2020. Since joining in May 2019, Jaramillo has led commercialization efforts, focusing on chronic heart failure and expanding into critical and pediatric care. Under his leadership, the company launched the Aquadex SmartFlow™ system for treating fluid overload in patients. Jaramillo brings extensive experience from various medical technology firms and investment banking, aiming to enhance CHF's innovative ultrafiltration therapy offerings.
CHF Solutions (Nasdaq: CHFS) held a webinar discussing fluid management in critically ill COVID-19 patients, emphasizing the role of ultrafiltration therapy. Key insights highlighted the prevalence of renal dysfunction and complications like cardio-renal syndrome among COVID-19 patients, advocating for early ultrafiltration to manage volume overload effectively. Experts noted that while some patients respond to diuretics, others may be diuretic-resistant, making ultrafiltration crucial. The Aquadex SmartFlow system is positioned as a vital tool under these circumstances, aiming to improve patient outcomes.
CHF Solutions (Nasdaq: CHFS) announced a physician-led webinar on June 12, 2020, to discuss intravascular volume management and ultrafiltration strategies for critically ill COVID-19 patients. The webinar, scheduled for June 17 at 9 a.m. EDT, will feature expert insights from healthcare professionals in Italy and the U.S. Effective fluid management is vital to prevent acute kidney injury in COVID-19 patients. The ultrafiltration system, known for its low extracorporeal volume, aids in precise fluid management, addressing significant challenges faced during the pandemic.
CHF Solutions (NASDAQ: CHFS) has successfully sold Aquadex SmartFlow consoles and disposables to a Central Florida hospital for treating COVID-19 patients. This ultrafiltration system is vital for managing fluid overload in critically ill patients, reducing severe complications like ARDS. The portable Aquadex device enhances fluid balance management, especially when dialysis resources are limited. CEO John Erb highlights the growing demand for this therapy across hospitals as they strive to effectively treat patients impacted by the pandemic.
CHF Solutions, Inc. (NASDAQ: CHFS) announced the approval of six equity awards under its New-Hire Equity Incentive Plan as of May 20, 2020. This decision complies with NASDAQ Listing Rule 5635(c)(4). The equity awards were granted to six new employees, who received options to purchase a total of 27,000 shares at an exercise price of $0.35 per share, matching CHF Solutions' closing stock price on the grant date. The options have a ten-year term and vest over four years.
CHF Solutions, Inc. (CHFS) announced the adjournment of its 2020 Annual Meeting of Stockholders to June 19, 2020, to secure additional proxies for a reverse stock split proposal. The Board believes this measure is essential to maintain its NASDAQ listing, as failure to do so could hinder capital raising efforts and lower stock prices. At the May 20 meeting, about 56% of voted shares supported the proposal but it fell short of majority approval. Stockholders are urged to vote by June 18, 2020, to ensure participation in this critical decision.
CHF Solutions (Nasdaq: CHFS) announced a publication focusing on ultrafiltration for managing fluid overload in critically ill COVID-19 patients. The publication emphasizes fluid stewardship, highlighting the efficacy of isolated ultrafiltration in preventing pulmonary congestion. Key benefits include portability and rapid deployment of the Aquadex SmartFlow™ system, which utilizes a minimal extracorporeal volume of 35 ml. CEO John Erb stated that this awareness could enhance treatment strategies during the pandemic, improving the lives of patients suffering from fluid overload.
