HYPERFINE Stock Price, News & Analysis

Hyperfine (Nasdaq: HYPR) highlights results from a multi-site study demonstrating the value of its Swoop® Portable MR Imaging® System in acute stroke diagnosis. The study, to be published in the August 2024 issue of Annals of Neurology, shows promising results for using Swoop® system images to assess stroke patients and guide critical treatment decisions. The study included 71 patients and was conducted by teams from Massachusetts General Hospital and the University at Buffalo.

This publication marks the first to include a subset of data from the ACTION PMR stroke study, which has already enrolled over 100 patients at four institutions. The study aims to compare stroke detection capabilities between ultra-low-field MRI, conventional high-field MRI, and CT. A workflow phase evaluating the Swoop® system's ease of access and versatility in emergency departments and stroke centers is set to begin later this year.

Hyperfine is set to announce its second-quarter 2024 financial results on August 8, 2024. The company, known for its FDA-cleared portable MR brain imaging system, the Swoop system, will host a conference call at 1:30 p.m. PT / 4:30 p.m. ET. The call will be accessible via a live audio webcast on the Investors page of Hyperfine's corporate website. Participants are encouraged to register at least 15 minutes early.

Hyperfine (Nasdaq: HYPR), a leading health technology company, announced new distribution partnerships in Germany, Austria, Switzerland, and Nordic markets for its FDA-cleared portable MR brain imaging system, the Swoop®. This strategic move expands Hyperfine's reach to twelve European countries, complementing previous agreements in France, the UK, and Italy. The Swoop® system, known for its affordability, accessibility, and high performance, aims to enhance brain imaging services globally. Hyperfine's strong track record in securing international approvals supports its commercial growth, with plans for further expansion into Asian markets, including India.

Hyperfine (Nasdaq: HYPR) has announced the acceptance of two presentations on the clinical utility of their portable ultra-low-field MRI system, Swoop®, for Alzheimer's disease monitoring at the 2024 Alzheimer’s Association International Conference, from July 28 to August 1 in Philadelphia. These presentations, prepared by clinicians from Washington University, Massachusetts General Hospital, and Yale University, will focus on the use of the Swoop® system for detecting and monitoring treatment efficacy in Alzheimer's patients. Hyperfine aims to make brain imaging more accessible and affordable, enhancing care in diverse settings. The company is also conducting the CARE PMR study to evaluate the system's utility in detecting amyloid-related imaging abnormalities (ARIA) in patients undergoing amyloid-targeting therapy.

Hyperfine (Nasdaq: HYPR) will host an analyst and investor education webcast on June 25, 2024, at 2:00 PM ET, focusing on advancements in ultra-low-field (ULF) MR imaging.

Led by Dr. Edmond Knopp, VP of Medical Affairs, the event features key opinion leaders (KOLs) discussing the Swoop® portable MR imaging system's application in critical care, stroke, and dementia, including Alzheimer's workflows.

Guest speakers include Dr. Jamal Derakhshan from Jefferson Abington Hospital, Dr. W. Taylor Kimberly from Mass General Hospital, and Dr. Cyrus A. Raji from Barnes Jewish Hospital. The webcast will end with an interactive Q&A session. The live audio and an archive of the webcast will be accessible on Hyperfine's investor relations page.

Hyperfine (Nasdaq: HYPR) is expanding its global reach by partnering with Radiosurgery Global to distribute its portable MR imaging system, Swoop®, in India. This strategic move addresses India's significant shortage of MRI scanners, with fewer than 5,000 units for over 1.4 billion people. The Swoop® system is designed to enhance diagnostic capabilities, particularly in underserved critical care and emergency settings. Hyperfine also plans future expansions into Malaysia, Indonesia, and Singapore. The company’s expansion is bolstered by recent certifications in the EU and UK and aims for regulatory approval in India through CDSCO. This collaboration signifies a major step toward improving healthcare accessibility and patient outcomes across Asia.

Hyperfine, a health technology company known for its FDA-cleared portable MR brain imaging system, the Swoop®, will present at the Jefferies Global Healthcare Conference in New York on June 6, 2024, at 3:00 pm ET. The event will be live-streamed and archived on the company's investor relations website for 90 days. For more details about the Swoop® system, visit their official website.

Hyperfine (Nasdaq: HYPR) participated in the 2024 ASNR Annual Meeting held in Las Vegas from May 18-22, 2024. The event highlighted the use of the Swoop® Portable MR Imaging® system, particularly for Alzheimer's care. Presenters emphasized the critical role of MRI in diagnosing and managing Alzheimer's disease and the potential of portable MR imaging to fill existing gaps in diagnostic capabilities. Sessions focused on the importance of monitoring amyloid-related imaging abnormalities (ARIA) for safe Alzheimer’s treatments. Attendees expressed significant enthusiasm for the Swoop® system’s benefits in clinical settings.

Hyperfine (Nasdaq: HYPR) announced its Q1 2024 financial results on May 13, 2024. The company reported $3.30 million in revenue, a 25% increase from Q1 2023, and sold 13 Swoop® systems. Gross margin improved to $1.35 million. R&D expenses were $5.57 million, and SG&A expenses dropped to $6.43 million. Net loss decreased to $9.85 million ($0.14 per share) from $12.16 million ($0.17 per share) in Q1 2023. Key milestones include starting the CARE PMR Alzheimer’s study, enrolling over 100 patients in the ACTION PMR stroke study, and launching the 8th-gen AI-powered software. Full-year 2024 revenue is expected to be $12-$15 million with a $40 million cash burn.