NeuroOne Medical Technologies Corporation - NMTC STOCK NEWS

NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) has received FDA 510(k) clearance for its Evo sEEG Electrode technology. This allows for temporary use (less than 30 days) in recording and stimulating electrical signals in the brain. The Evo system is significantly less invasive than traditional cortical electrodes, addressing a $100 million market for diagnostic brain mapping. NeuroOne plans to advance commercialization in partnership with Zimmer Biomet, and is also developing therapeutic electrode technologies targeting markets valued up to $6 billion.

NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) announced on September 22, 2022, the approval of equity awards to new employees as part of the 2021 Inducement Plan. Effective September 20, 2022, these individuals were granted options to purchase 1,000 shares at an exercise price of $1.97, based on the closing stock price on the grant date. The options vest over four years, with 25% vesting after one year and the remainder vesting monthly after that, contingent on continuing employment.

NeuroOne Medical Technologies (NASDAQ: NMTC) reported its third-quarter fiscal 2022 results, highlighting a net loss of $2.8M, a slight decrease from $3.0M in Q3 2021. Product revenue fell to $32,000 from $40,000 year-over-year, while collaboration revenue was impacted by FDA delays. Operating expenses decreased to $2.8M compared to $3.0M in the prior year. The company secured a $3.5M milestone payment from Zimmer Biomet for the Evo® sEEG electrode and made significant progress in product testing and FDA submissions.

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.