Welcome to our dedicated page for ClearPoint Neuro news (Ticker: CLPT), a resource for investors and traders seeking the latest updates and insights on ClearPoint Neuro stock.
ClearPoint Neuro, Inc. (symbol: CLPT) is a leading medical device company based in the United States, specializing in the development and commercialization of innovative platforms designed for performing minimally invasive surgical procedures in both the brain and heart, utilizing magnetic resonance imaging (MRI) guidance. Since its inception in 1998, ClearPoint Neuro has been at the forefront of interventional MRI research and product development.
The company's flagship product, the ClearPoint® System, is currently being used in the United States for minimally invasive brain surgeries. This system allows for precision and real-time visualization during complex neurosurgical procedures, significantly improving patient outcomes. The ClearTrace® System, still under development, aims to bring similar advancements to cardiac surgeries, offering minimally invasive solutions for heart procedures.
ClearPoint Neuro's product portfolio includes the ClearPoint System, ClearPoint Services, and ClearPoint Therapeutic Solutions. Their latest innovation, the Prism Neuro Laser Therapy System, received FDA clearance and has been integrated with the company's SmartFrame Array® 1.2 software, enhancing the practicality and efficiency of neuro laser therapies. This integration allows for combined biopsy and laser therapy procedures to be performed in a single setting, reducing setup times and improving procedural accuracy.
Financially, ClearPoint Neuro has shown robust growth. In the fourth quarter of 2023, the company reported a record revenue of $6.8 million, marking a 30% increase. Their strategic partnerships, including those with clinical and pharmaceutical firms, further bolster their financial stability and market reach. The recent equity offering of approximately $15 million has solidified their balance sheet, reinforcing investor confidence in their continued growth and innovation.
ClearPoint Neuro is also deeply involved in advancing gene and cell therapy. Their SmartFlow® Cannula is a key device used globally for delivering approved gene therapies directly to the brain. This device has been instrumental in numerous clinical trials, including those for treating AADC deficiency and Frontotemporal Dementia (FTD).
Overall, ClearPoint Neuro remains committed to driving innovation in the medical field, with a strong focus on improving surgical outcomes through advanced imaging and precise navigation technologies. For more information, visit their website at www.clearpointneuro.com.
ClearPoint Neuro, Inc. reported a 41% year-over-year increase in revenue for the first quarter of 2024, reaching $7.6 million. The company saw significant growth in biologics and drug delivery revenue, partnered with PTC Therapeutics for a neuro gene therapy BLA submission, and achieved 510(k) clearance for a new system. They activated eight new hospital customers, reduced operational cash burn by 32%, completed a public offering resulting in $16.2 million in net proceeds, and ended the quarter with $35.4 million in cash and cash equivalents. The company reaffirmed its full-year revenue outlook of $28.0 to $32.0 million for 2024.
ClearPoint Neuro, Inc. (Nasdaq: CLPT) will present novel research and exhibit at the 27th American Society of Gene & Cell Therapy Annual Meeting. The Company offers navigation to the brain and spine, showcasing abstracts and technology collaborations. The ASGCT Annual Meeting serves as a platform for networking and attracting new customers. ClearPoint Neuro provides clinical products and pre-clinical development services for controlled drug and device delivery, with a global presence in healthcare and research centers.
ClearPoint Neuro, Inc. announced FDA clearance for its Prism Bone Anchor Accessory, supporting the ClearPoint Prism Neuro Laser Therapy System, expanding into the operating room. The accessory will enable precise navigation for laser therapy in the brain and spine, with a market release in Q2 2024 and full market release in the second half of the year.
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