Welcome to our dedicated page for Profound Med news (Ticker: PROF), a resource for investors and traders seeking the latest updates and insights on Profound Med stock.
Overview
Profound Med Corp (PROF) is a commercial-stage medical device company renowned for its innovative, incision-free therapeutic systems designed for image-guided ablation of diseased tissue. Leveraging real-time MRI, transurethral therapeutic ultrasound, and closed-loop thermal feedback control, the company has developed a unique solution for the ablation of prostate tissue in prostate cancer patients. This advanced system not only exemplifies the cutting edge of minimally invasive procedures but also integrates seamlessly with the existing imaging infrastructure found in modern healthcare facilities.
Technology and Product Offering
The cornerstone of Profound Med Corp’s product portfolio is the TULSA-PRO system, a state-of-the-art platform that combines several advanced features:
- Real-Time MRI Guidance: The system harnesses live magnetic resonance imaging to adapt treatment protocols dynamically during the ablation process, ensuring precision and patient-specific customization.
- Transurethral Therapeutic Ultrasound: Utilizing a robotically driven, sweeping-action approach, the ultrasound component carefully administers thermal energy to target prostate tissue without invasive incisions.
- Closed-Loop Thermal Feedback Control: This control system allows the procedure to maintain an optimal thermal profile, thereby enhancing accuracy and safety during treatment.
Business Model and Market Position
Profound Med Corp operates within the highly specialized medical device market, focusing on ablation therapies that are both customizable and minimally invasive. The company generates revenue primarily through the sale of one-time use devices and durable equipment that are designed to be used in conjunction with hospitals' and clinics' existing MRI scanners. This integration into existing infrastructure ensures that the system is easily adopted within various clinical settings, supporting ease of transition and cost-efficiency.
Competitive Landscape and Operational Excellence
In a competitive market characterized by rapid technological innovation and stringent clinical requirements, Profound Med Corp distinguishes itself through its emphasis on precision, efficiency, and patient safety. The combination of advanced imaging, ultrasound technology, and thermal regulation is not only technically sophisticated but also strategically positioned to serve a niche yet critical segment of the healthcare market. Investors and industry analysts recognize the company for its steady approach in developing and refining a product that addresses the complexities of prostate ablation with a strong focus on quality and clinical efficacy.
Clinical and Operational Insights
Clinical trials and ongoing studies highlight the system's ability to deliver short treatment times and low morbidity, which are key benefits in improving patient recovery. The robust integration of multiple modalities reflects Profound Med Corp’s commitment to delivering tailored therapeutic options while maintaining operational efficiency in diverse healthcare settings. This carefully engineered approach positions the company as a noteworthy participant in the evolution of non-invasive treatments for prostate cancer and similar conditions.
Industry Expertise and Strategic Integration
Profound Med Corp’s approach is defined by its deep understanding of both the technological and clinical requirements inherent in prostate ablation therapy. By harnessing complex imaging modalities with precision-focused therapeutic techniques, the company bridges the gap between advanced medical engineering and practical clinical application. The strategic utilization of the healthcare system's imaging infrastructure further demonstrates an astute awareness of operational challenges and provides a framework that is both innovative and reliable.
Conclusion
In summary, Profound Med Corp exemplifies a sophisticated blend of medical technology innovation and robust clinical application. Its TULSA-PRO system exemplifies how merging cutting-edge imaging with therapeutic ultrasound can revolutionize treatment protocols, offering a minimally invasive alternative to traditional surgical methods. This comprehensive approach not only drives operational excellence but also reinforces the company’s reputation as a knowledgeable and trusted participant in the medical device industry.
Profound Medical Corp (NASDAQ:PROF; TSX:PRN) has announced a hybrid investor event scheduled for April 28, 2025, during the American Urological Association (AUA) Annual Meeting in Las Vegas. The event will run from 3:30-5:00 PM PT (6:30-8:00 PM ET).
The program will feature presentations from both management and leading physicians, focusing on four key areas:
- TULSA-PRO® technology and its versatility in treating prostate disease patients
- Peri-operative results from the Level 1 CAPTAIN post-market study comparing TULSA procedure to radical prostatectomy
- Introduction of the new TULSA-AI® module for BPH, including a live technology demonstration
- Updates on the TULSA+ program, which integrates TULSA-PRO® with Siemens Healthineers' Magnetom Free.Max interventional MRI
Profound Medical Corp (NASDAQ:PROF) is under investigation by Cohen Milstein Sellers & Toll LLP following significant accounting irregularities. The company, which develops ablation therapies for diseased tissue, disclosed on March 6, 2025, that its Audit Committee discovered a revenue overstatement of $472,000 in Q1 2024.
As a result, Profound's financial statements for the first three quarters of 2024 will require restatement and reissuance. The market reacted negatively to this news, with PROF shares declining 5.9% to close at $6.86 per share on March 7, 2025.
Profound Medical (NASDAQ:PROF) reported strong Q4 2024 financial results with revenue reaching $4.2 million, marking a 108% increase compared to Q4 2023. The quarter saw $2.7 million from recurring revenue and $1.5 million from capital equipment sales.
Key Q4 highlights include executive changes with Mathieu Burtnyk promoted to President and Tom Tamberrino appointed as Chief Commercial Officer. The company entered a collaboration with Siemens Healthineers and launched the TULSA-AI® 'UA Alignment Assistant' module.
For full year 2024, revenue totaled $10.7 million, up from $7.2 million in 2023. The company reported a net loss of $27.8 million ($1.12 per share) compared to $28.3 million ($1.34 per share) in 2023. Operating expenses increased to $40.1 million from $33.0 million. As of December 31, 2024, Profound had cash of $54.9 million.
Profound Medical Corp (NASDAQ:PROF; TSX:PRN), a commercial-stage medical device company specializing in incision-free ablation therapies for diseased tissue, has announced it will release its fourth quarter and full year 2024 financial results after market close on Thursday, March 6, 2025.
The company will host a conference call at 4:30 p.m. ET on the same day, where management will review financial results and discuss business developments. The call will be accessible through online registration and will also be broadcast live and archived on the company's website under the Investors section.
Profound Medical Corp. (NASDAQ:PROF; TSX:PRN), a commercial-stage medical device company specializing in incision-free ablation therapies, announced a schedule change for its presentation at the 43rd Annual J.P. Morgan Healthcare Conference. The presentation has been moved to 9:00 a.m. Pacific Time on Thursday, January 16, 2025. Interested parties can access the live broadcast and archived recording through the 'Webcasts' section of the company's website at www.profoundmedical.com.
Profound Medical (NASDAQ:PROF) announced preliminary unaudited revenues for Q4 and full year 2024. The company expects Q4 2024 revenue between $4.1-4.2 million, representing 105-110% year-over-year growth and 45-48% sequential growth. Full year 2024 revenue is anticipated at $11.1-11.2 million, compared to $7.2 million in 2023.
Starting January 1, 2025, Profound will transition to reporting financial results under U.S. GAAP and file domestic forms with the SEC, while maintaining SEDAR+ filings in Canada. The company recently completed an underwritten public offering of common shares and achieved unique reimbursement for its TULSA procedure at Urology APC Level 7 across multiple treatment settings.
Profound Medical Corp (NASDAQ:PROF; TSX:PRN), a commercial-stage medical device company specializing in incision-free ablation therapies for diseased tissue, has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference. The company's management will deliver a business update presentation on Thursday, January 16, 2025, at 11:15 a.m. Pacific Time in San Francisco, CA.
The presentation will be accessible to interested parties through a live broadcast and will subsequently be archived on the company's website at www.profoundmedical.com in the Investors section under 'Webcasts'.
Profound Medical Corp (NASDAQ: PROF) has successfully closed its underwritten public offering of common shares, raising US$40.25 million in gross proceeds. The offering, priced at US$7.50 per share, included the full exercise of the over-allotment option, resulting in the issuance of 5,366,705 common shares.
The net proceeds will be allocated to fund the commercialization of TULSA-PRO® system in the United States, support global development and commercialization of both TULSA-PRO® and Sonalleve® systems, and provide working capital for general corporate purposes. Raymond James and Lake Street Capital Markets served as co-lead underwriters and joint bookrunners for the offering.
Profound Medical (NASDAQ: PROF) announced the pricing of an underwritten public offering of 4,666,700 common shares at US$7.50 per share, expecting to raise approximately US$35 million in gross proceeds. The company granted underwriters a 30-day option to purchase up to 700,005 additional shares.
The net proceeds will fund the TULSA-PRO® system commercialization in the United States, support global development and commercialization of both TULSA-PRO® and Sonalleve® systems, and provide working capital. The offering, expected to close around December 10, 2024, is co-led by Raymond James and Lake Street Capital Markets.
Profound Medical Corp (NASDAQ: PROF) has announced a proposed public offering of common shares. The company plans to grant underwriters a 30-day option to purchase up to an additional 15% of the offered shares. The net proceeds will be used to fund the commercialization of TULSA-PRO® system in the US, continue development and commercialization of TULSA-PRO® and Sonalleve® systems globally, and for working capital purposes.
The offering is expected to close around December 10, 2024, with Raymond James and Lake Street Capital Markets acting as co-lead underwriters. The offering will be available in all Canadian provinces and territories (except Quebec) and in the United States, subject to necessary approvals including Toronto Stock Exchange approval.
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