Welcome to our dedicated page for Movano news (Ticker: MOVE), a resource for investors and traders seeking the latest updates and insights on Movano stock.
Movano Inc. (Nasdaq: MOVE), operating as Movano Health, is a health-focused technology company dedicated to revolutionizing the way we manage and monitor our health metrics. Founded in 2018 and headquartered in Pleasanton, California, Movano is committed to developing healthcare solutions that bring medical-grade, high-quality data to consumer health devices. The company's flagship product, the Evie Ring, is a wearable designed specifically for women to track a comprehensive array of health metrics including resting heart rate, heart rate variability (HRV), blood oxygen saturation (SpO2), respiration rate, and skin temperature variability. It also monitors period and ovulation tracking, menstrual symptom tracking, steps, active minutes, calories burned, sleep stages and duration, and mood tracking.
Movano Health has made significant strides in advancing its Evie Ring technology, as evidenced by a recent hypoxia trial conducted in collaboration with the University of California, San Francisco (UCSF). The study confirmed that the accuracy of Evie's pulse oximeter exceeds FDA guidelines. This milestone underscores the company's objective to achieve FDA clearance for the Evie Med Ring, a medical-grade version of the wearable. The Evie Med Ring aims to provide a seamless blend of accessibility, personalization, and medical reliability, significantly differentiating itself from existing wellness solutions.
In addition to its technological advancements, Movano Health recently secured a strategic investment from a tier-one multi-billion dollar medical device company. This partnership, along with a $24 million capital raise, ensures financial stability and accelerates the commercialization of Movano's proprietary technologies. The company has also entered into agreements to explore future collaborations for the development and commercialization of their healthcare solutions.
Movano Health's commitment to innovation extends to strategic collaborations with prestigious institutions like MIT. The company’s Evie Ring is being utilized in the MAESTRO study to understand long COVID and chronic Lyme disease, providing continuous, reliable data that could reshape approaches to these debilitating conditions.
For more information on Movano Health and their latest updates, visit here.
Movano Health (MOVE) has announced the beta release of EvieAI, a virtual wellness assistant integrated into their Evie smart ring's companion app. This feature marks the first medical journal-trained AI companion in a wearable device, trained on over 100,000 medical journals.
The AI assistant will provide personalized health insights based on users' metrics collected by Evie's sensors, including heart rate, blood oxygen, menstrual cycle information, skin temperature, sleep, exercise, and mood. Unlike general AI assistants, EvieAI focuses on medical accuracy and implements industry-standard encryption for data protection.
The Evie Ring, priced at $269 with no subscription fees, features 4+ days of battery life, 60-minute recharge time, and is available in gold, rose gold, and silver finishes. The beta version of EvieAI is currently available for iOS users at no additional cost to existing customers.
Movano Health (Nasdaq: MOVE) has appointed Dr. Shaheen Wirk to its Board of Directors. Dr. Wirk brings over 20 years of investment experience in life science companies and is the founder and Chief Investment Officer of Palkon Capital Management. This appointment follows Movano's recent FDA 510(k) clearance for the pulse oximeter in its EvieMED Ring.
The FDA clearance positions Movano to pursue multi-billion dollar opportunities in health monitoring solutions, particularly in clinical trials, post-clinical trial management, and remote patient monitoring. The company's first product, the Evie Ring wellness device, is currently available in the market through eviering.com.
Dr. Wirk's extensive background includes founding Blue Cotinga advisory firm and serving on boards including Tvardi Therapeutics. He holds M.D., M.B.A., and B.S. degrees from Duke University and completed research training in oncology and trauma surgery at prestigious institutions.
Movano Health has received FDA 510(k) clearance for the pulse oximeter in its EvieMED Ring, opening up a $40 billion healthcare B2B market opportunity. The clearance enables the company to pursue opportunities in clinical trials, post-clinical management, and remote patient monitoring. The company is already in agreement phase with a large payor for a pilot study planned for early 2025 and in discussions with pharmaceutical companies and CROs. The EvieMED Ring combines medical-grade accuracy with comfortable wearability, measuring blood oxygen levels, heart rate, and additional wellness metrics. A pivotal study confirmed accurate readings across all skin tones.
Movano Health (MOVE) reported Q3 2024 results, highlighting three key initiatives: the successful back-in-stock launch of Evie Ring direct-to-consumer business, pursuing FDA 510(k) clearance for EvieMED Ring, and advancing blood pressure and glucose monitoring studies. The company shipped 339 Evie Rings in Q3, reporting an operating loss of $7.4 million compared to $9.1 million in Q3 2023. Cash position stood at $11.3 million as of September 30, 2024. The company implemented a 1-for-15 reverse stock split and regained Nasdaq compliance. They also entered agreement phase with a healthcare company for an EvieMED Ring pilot program in Q1 2025.
Movano Health (Nasdaq: MOVE) has completed testing of its new blood pressure wrist wearable during a hypoxia clinical trial at UC San Francisco. The enhanced device features 12 additional mmWave antennas and a custom IC, delivering improved data collection with a slimmer, more comfortable design. The wearable also monitors vital signs including pulse rate, blood oxygen saturation, respiration rate, and ECG waveforms.
This study follows two clinical trials from October 2023 and June 2024, where the company's non-invasive device collected pulse pressure waveforms data from over 50 participants. The device improvements were implemented based on learnings from these previous studies to achieve higher fidelity blood pressure signals.
Movano Health (Nasdaq: MOVE) has scheduled its third quarter 2024 financial results release for Thursday, November 14, 2024, after market close. The company will host a conference call and live audio webcast at 2:00 PM PT/5:00 PM ET on the same day. Investors can access the webcast through the company's investor relations website or join via phone using provided domestic and international dial-in numbers. A recorded version will be available on the company's website for two years.
Movano Health (NASDAQ: MOVE) has submitted a complete response package to the FDA for the final review phase of its 510(k) application for the EvieMED Ring. The company remains optimistic about receiving 510(k) clearance for this wearable device. The EvieMED Ring combines medical functionality through pulse oximetry with wellness tracking features, including sleep monitoring, activity tracking, and mood and energy logging capabilities. The company sees potential opportunities in remote patient monitoring and clinical trials markets.
Movano Health (MOVE) is investigating apparent stock manipulation following its recent reverse stock split. The company detected suspicious trading activity between October 25-29, 2024, involving numerous single-share transactions seemingly aimed at exploiting the fractional shares round-up convention. Movano identified this activity before any round-up shares were issued and maintains its expected post-split outstanding shares at approximately 6.6 million. The company is working with securities regulators and legal advisors to address this issue, noting that other small-cap stocks have faced similar manipulation attempts following their reverse splits.
Movano Health (Nasdaq: MOVE) has initiated an investigation into suspected stock manipulation following their recent reverse stock split. The company's CEO, John Mastrototaro, stated they are working with securities regulators, legal counsel, and other partners to protect shareholder interests. The company noted that several other small-cap stocks have experienced similar manipulation after implementing reverse stock splits. The reverse stock split was approved by shareholders at the annual meeting on July 9, 2024, with details available in the proxy statement filed on May 28, 2024.
Movano Health (Nasdaq: MOVE) has announced a brand partnership with lifestyle content creator Heidi D'Amelio, who will share her experiences with the Evie Ring to her 12 million Instagram and TikTok followers. The Evie Ring, priced at $269 with no subscription fees, is the first smart ring designed specifically for women, featuring an open design for finger size fluctuations and AI-powered health tracking. D'Amelio will provide product feedback to help improve the Evie app. The company recently restocked the product and plans to release an Android version in November 2024.
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