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 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.
Movano Health (Nasdaq: MOVE) announced a 1-for-15 reverse stock split effective October 29, 2024. The split will reduce outstanding shares from approximately 99.5 million to 6.6 million, with the stock continuing to trade on Nasdaq under 'MOVE'. The reverse split aims to increase the bid price to meet Nasdaq's minimum requirements for continued listing. The measure was authorized by stockholders on July 9, 2024. Fractional shares will be rounded up to the next whole share, and proportionate adjustments will be made to equity plans. The company's transfer agent, Pacific Stock Transfer Company, will handle the exchange process.
Movano Health (Nasdaq: MOVE) announced plans to submit responses next week to FDA's clarifying questions regarding their 510(k) application for EvieMED. The company previously received positive feedback on EvieMED's wellness features and metrics this summer. The EvieMED Ring is designed as a wearable device combining medical functionality through pulse oximetry with wellness metrics tracking for sleep, activity, mood, and energy. The company aims to provide a consumer-friendly solution for remote patient monitoring and clinical trials to improve patient compliance and data collection.
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