Welcome to our dedicated page for NeuroOne Medical Technologies Corporation news (Ticker: NMTC), a resource for investors and traders seeking the latest updates and insights on NeuroOne Medical Technologies Corporation stock.
NeuroOne Medical Technologies Corporation (symbol: NMTC) is a cutting-edge medical technology company based in Eden Prairie, Minnesota. The company specializes in the development and commercialization of innovative thin-film electrode technology designed for continuous electroencephalogram (cEEG) and stereoelectroencephalography (sEEG) recording, brain stimulation, and ablation solutions. These technologies are particularly beneficial for patients suffering from a variety of brain-related disorders, including epilepsy, Parkinson's disease, dystonia, and essential tremors.
NeuroOne's core business revolves around creating comprehensive neuromodulation solutions that integrate cEEG and sEEG recording, monitoring, brain stimulation, and ablation. This focus has led to notable advancements such as the Evo® sEEG system, which is the first FDA-cleared thin-film sEEG-guided RF system capable of both recording electrical activity and ablating nervous tissue, with the added benefit of temperature control.
The company is actively involved in various exciting projects and partnerships. One of their key initiatives is the Drug Delivery Program, which is expected to achieve several important milestones in the near future. Additionally, NeuroOne is continuously enhancing its product portfolio to better serve its target patient population.
Financially, NeuroOne has provided promising updates for the second quarter of the fiscal year 2024. The company’s recent business highlights include significant progress in their OneRF™ Ablation System and Spinal Cord Stimulation Program. Investors and interested parties can access more detailed financial results and updates through their quarterly conference calls and webcasts.
For more information or to get in touch with NeuroOne, please contact them at 800-631-4030 or email ir@nmtc1.com.
NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) has re-submitted a special 510(k) application to the FDA on August 8, 2022, to extend the usage duration of its sEEG electrode from less than 24 hours to less than 30 days. This expedited review is expected to be completed within 30 days. Following a previous setback in May, where the FDA upheld a decision of not substantially equivalent, NeuroOne has addressed biocompatibility concerns. CEO Dave Rosa expressed optimism about the submission and continued discussions with the FDA.
NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) will hold a conference call on August 11, 2022, at 5:30 PM Eastern Time to discuss its financial results for the third quarter of fiscal 2022, which ended on June 30, 2022. This call will provide insights into the company's performance and strategic direction in developing minimally invasive solutions for neurological disorders.
NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) announced an amendment to its agreement with Zimmer Biomet, securing a $3.5 million accelerated payment related to milestone achievements. In return, Zimmer will receive 350,000 warrants with an exercise price of $3.00 per share. This funding will bolster NeuroOne's balance sheet while avoiding highly dilutive financing. CEO Dave Rosa expressed gratitude for Zimmer's support, highlighting the strategic partnership established since July 2020, which allows Zimmer exclusive distribution rights for NeuroOne's technology.
NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) has announced its first clinical case using the Evo sEEG electrode at Emory University, performed by Dr. Robert Gross. This milestone supports the company's goal of improving surgical options for neurological disorders. NeuroOne plans to submit a 510(k) application to the FDA in August for commercial clearance of the electrode for less than 30 days of use. The Evo sEEG electrode has a market potential of $100 million and offers a less invasive alternative for brain mapping compared to traditional methods.
NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) published its 2022 Annual Letter to Shareholders, highlighting accomplishments from fiscal year 2021 and outlining goals for 2022 and beyond. Significant achievements include a $12.5M equity raise, uplisting to Nasdaq, and successful feasibility testing of their electrode technology. Looking ahead, the company plans to resubmit for FDA approval of its sEEG product line and continue developing its ablation system and electrode technologies for chronic conditions like epilepsy and Parkinson's disease.
NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) will present its innovative technology at the H.C. Wainwright Global Investment Conference from May 23-26, 2022 in Miami. The presentation is scheduled for May 25, 2022, at 3:30 PM ET, and will be available via webcast. CEO Dave Rosa will highlight progress in minimally invasive, high-precision solutions for neurological conditions. NeuroOne aims to reduce costs and improve patient outcomes using advanced electrode technologies. For more information, visit n1mtc.com.
NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) announces the FDA's recent decision to uphold its denial of the Evo® sEEG Electrode for extended use beyond 24 hours. Although the FDA encourages the company to submit new evidence to support a substantial equivalence claim, the timeline for resubmission is set for August 2022. The CEO expressed disappointment but remains optimistic about demonstrating compliance through ongoing testing. NeuroOne is also exploring marketing opportunities for intraoperative use through Zimmer Biomet.
NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) announced its second quarter fiscal 2022 results, reporting product revenue of $37,000, up from $18,000 in Q2 2021. The company faced delays in collaboration revenue due to FDA decisions, totaling $20,000 last year. Operating expenses rose to $3.0 million, with a net loss of $3.1 million, compared to $2.4 million the previous year. As of March 31, 2022, cash reserves decreased to $12.9 million. The company provided updates on its product development, including ongoing FDA appeals and new manufacturing qualifications.
NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) announced that it will hold a conference call on May 12, 2022, at 4:30 PM Eastern Time to discuss its financial results for the second quarter of fiscal 2022, which ended on March 31, 2022. The company specializes in developing minimally invasive solutions for neurological disorders such as epilepsy and Parkinson's disease. NeuroOne's technology aims to improve patient outcomes while potentially lowering hospitalizations and costs.
NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) will present at NobleCon18 from April 19-21, 2022. CEO Dave Rosa will discuss advancements in minimally invasive technologies aimed at treating neurological disorders such as epilepsy and Parkinson's disease. The presentation is scheduled for April 21 at 11:30 a.m. ET, with breakout sessions on April 20 and 21. The event will take place at the Hard Rock Hotel & Casino in Hollywood, Florida. The company is also exploring applications of its technology in artificial intelligence.
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