Welcome to our dedicated page for Know Labs news (Ticker: KNW), a resource for investors and traders seeking the latest updates and insights on Know Labs stock.
Overview
Know Labs Inc is a cutting-edge medical diagnostic company that specializes in the development of non-invasive testing technologies using proprietary Bio-RFID and ChromaID systems. These technologies leverage electromagnetic energy to capture the unique signature of substances, enabling the detection and identification of biomarkers without the need for conventional invasive procedures. By driving innovation in the field of healthcare diagnostics, Know Labs is committed to providing alternatives that enhance patient experience and streamline clinical operations.
Core Technologies and Innovations
Know Labs Inc has developed two main technologies that define its product offerings:
- Bio-RFID Technology: This technology uses electromagnetic signals to record distinct bio-signatures from various substances, allowing for accurate identification and authentication. It offers a non-invasive approach, minimizing discomfort while delivering precise diagnostic information.
- ChromaID Technology: Utilizing advanced spectral analysis, ChromaID captures the chromatic signature of materials, facilitating their detection and verification in a manner that bypasses traditional, more invasive methods.
These innovations not only represent significant advancements in diagnostic testing but also hold the potential to redefine standard practices within the medical field.
Applications in Medical Diagnostics
The technologies developed by Know Labs Inc are applicable to a wide range of diagnostic scenarios. A primary focus is on the development of wearable devices that integrate these technologies, such as non-invasive blood glucose monitors. This approach aims to eliminate the need for traditional fingerstick testing, thereby reducing patient discomfort and improving adherence to monitoring regimens. The practical applications of such tools extend beyond diabetes management to potentially encompass a variety of diagnostic uses where traditional methods are cumbersome or invasive.
Market Position and Industry Context
Operating in the competitive healthcare technology and medical diagnostics sector, Know Labs Inc carves out its niche by offering significantly disruptive non-invasive testing methods. Its emphasis on using electromagnetic energy to capture biomolecular signatures sets the company apart from traditional lab-based diagnostic systems. In doing so, Know Labs not only addresses critical challenges such as patient discomfort and procedural inefficiencies but also reinforces its position as a specialist in innovative diagnostic solutions within a rapidly evolving market.
Business Model and Revenue Considerations
The company’s business model centers on the research, development, and commercialization of its proprietary diagnostic technologies. Revenue generation is primarily achieved through the sales and marketing of medical devices and integrated diagnostic systems, along with potential licensing of its technologies to strategic partners. This model allows Know Labs Inc to expand the reach of its innovations throughout various segments of the healthcare industry, further solidifying its role as a transformative force in diagnostics.
Competitive Advantages and Industry Impact
Know Labs Inc distinguishes itself through its commitment to non-invasive, patient-friendly diagnostics. The use of sophisticated electromagnetic energy-based techniques provides an alternative to traditional, often cumbersome laboratory tests. This focus on innovation not only improves the accuracy and speed of diagnosis but also positions the company as a thought leader in the development of next-generation medical devices. The combination of its unique technologies and a strategically diversified product portfolio has the potential to influence the broader healthcare landscape significantly.
Detailed Technological and Clinical Insights
Understanding the technical nuances of Know Labs Inc's offerings requires an appreciation of both the scientific and practical aspects of its technologies. The Bio-RFID system relies on a precise interaction between electromagnetic waves and biological tissues, capturing signatures that are both unique and replicable. Similarly, the ChromaID system applies principles of spectral analysis to differentiate between subtle variations in material composition. Together, these systems exemplify how advanced technology can be harnessed to solve persistent challenges in clinical diagnostics. The integration of these innovations into wearable devices is poised to offer a practical, everyday application that can change how routine health monitoring is conducted.
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.
Know Labs, Inc. (NYSE American: KNW) will host a webcast on May 15, 2024, to review Q2 FY 2024 results. The company is focused on non-invasive medical diagnostic technology, including a continuous blood glucose monitoring device.
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