Know Labs, Inc. - KNW STOCK NEWS

Know Labs (NYSE American: KNW) has successfully closed a $3.445 million public offering of 13,250,000 units at $0.26 per unit. Each unit includes one common stock share and one warrant to purchase an additional share at $0.26. The underwriters partially exercised their option to purchase 1,987,500 warrants. This capital raise is part of Know Labs' strategic plan to accelerate the development of its proprietary technology, including the KnowU™ wearable non-invasive continuous glucose monitoring device. The funds will support ongoing clinical validation studies, product development efforts for FDA clearance, and strengthening the company's intellectual property position.

Know Labs (NYSE American: KNW), a developer of non-invasive medical diagnostic technology, has announced the pricing of a $3.445 million public offering. The offering consists of 13,250,000 units priced at $0.26 per unit, with each unit including one share of common stock and one warrant to purchase an additional share at $0.26. The offering is expected to close around August 9, 2024. Know Labs has granted underwriters a 30-day option to purchase up to 1,987,500 additional shares and/or warrants. The company plans to use the proceeds for product development, clinical studies, general and administrative expenses, intellectual property, and working capital. The Benchmark Company and Boustead Securities are acting as Joint Book-Running Managers for the offering.

Know Labs, Inc. (NYSE American: KNW), a developer of non-invasive medical diagnostic technology, has announced a webcast to review its third quarter fiscal year 2024 results on August 14, 2024, at 1:30 pm PT. The company, which is working on developing the first FDA-cleared non-invasive continuous blood glucose monitoring device, will provide business updates and discuss results for the quarter ended June 30, 2024. Investors and media can access the live audio webcast at a provided link or through the company's investor relations website. A replay of the webcast will also be available on the company's website after the event.

Know Labs announced the publication of its study in the Diabetes Technology & Therapeutics Journal, demonstrating the accuracy of a non-invasive glycemic status screening device. The study showed that their RF dielectric sensor and machine learning algorithms accurately classified glycemic status with 93.37% accuracy compared to venous blood glucose values.

This proof-of-concept device has potential applications for early diabetes diagnosis, especially in underserved global populations. The study involved 31 participants aged 18-65 with prediabetes or Type 2 diabetes, with data collected through an Oral Glucose Tolerance Test and a control session. Results support the efficacy of the RF sensor, though further research is needed to improve sensitivity and specificity, particularly for hypoglycemic states.

Efforts to expand the application beyond proof-of-concept will be led by Chris Somogyi, alongside potential strategic partners, while the company continues to focus on FDA clearance for its non-invasive continuous glucose monitor.

Know Labs (NYSE American: KNW) presented new interim results from a clinical study on its non-invasive radiofrequency (RF) dielectric sensor for blood glucose measurement. The study, involving 22 participants with prediabetes and Type 2 diabetes, showed that the sensor’s accuracy remained statistically stable. Using venous blood as a reference, a new machine learning (ML) model was developed and tested, achieving a Mean Absolute Relative Difference (MARD) of 11.8% ± 1.5%.

Dr. Virend K. Somers from Mayo Clinic, a co-investigator, will present these findings at the American Diabetes Association’s 84th Scientific Sessions in Orlando, Florida, on June 22, 2024. This study builds on earlier interim results presented at the ATTD conference in March 2024, where the MARD was 11.1%. The current study expanded the dataset from 650 to 1,430 paired RF and reference blood glucose values.

The study used an RF sensor that scans a wide range of frequencies to measure glucose levels, analyzed using ML algorithms. Know Labs plans to continue refining their technology with their newly announced KnowU™ wearable non-invasive continuous glucose monitor in ongoing clinical studies.

Know Labs (NYSE American: KNW) announced its membership in the Wyss Institute for Biologically Inspired Engineering at Harvard University’s Industrial Participant Program (IPP). This collaboration aims to accelerate the development of innovative diagnostic technologies. Know Labs will contribute its expertise in radiofrequency dielectric sensor technology, particularly for non-invasive blood glucose monitoring. The company holds over 300 patents in medical and non-medical applications. Joining the Wyss DxA IPP, Know Labs aims to advance healthcare solutions for diabetes management and general disease prevention. CEO Ron Erickson highlighted the opportunity to contribute to innovation and equitable care.

Know Labs (NYSE American: KNW) has appointed Chris Somogyi as President, International. Somogyi, with over 40 years of experience in commercializing innovation, will lead the 'Skunkworks' Program and global patent licensing efforts. His focus will be on leveraging Know Labs' IP portfolio of over 300 patents for diverse applications, including the KnowU™ continuous glucose monitor. He aims to drive global revenue, particularly in regions with high diabetes incidence such as Asia, Africa, South America, and the Middle East. Somogyi's extensive background includes roles at Stanford, SRI International, Xerox PARC, and Intellectual Ventures. CEO Ron Erickson expressed confidence in Somogyi's capability to enhance the company's strategic initiatives and revenue generation efforts.

Know Labs (NYSE American: KNW) reported Q2 FY 2024 results, showing an operating loss of $4.73 million, slightly better than the $4.81 million loss in Q2 FY 2023. EPS improved 30% to a loss of $0.07 from $0.10. R&D expenses dropped 15.1% to $2.18 million, while SG&A expenses increased 13.7% to $2.55 million. Cash and cash equivalents fell to $4.71 million from $8.02 million, and net cash used in operations rose to $7.05 million. Shareholder equity turned negative at -$1.75 million. The company announced an $18 million S-3 shelf registration for liquidity and plans to raise funds through equity and convertible debt.

Know Labs, Inc. (KNW) has been chosen to present an oral abstract at the 2024 American Association of Clinical Endocrinology Annual Meeting. The abstract, titled 'Efficacy of a Non-Invasive Blood Glucose Monitor for Diabetes Management Using a Radiofrequency Sensor and Machine Learning,' will showcase the accuracy and medical application of its proprietary sensor. The company will continue deploying its KnowU™ wearable continuous glucose monitor in large-scale clinical trials toward FDA clearance, focusing on performance in real-world environments and extreme glycemic ranges.