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) reported its Q1 2021 financial results with revenue of approximately $711,000, a decline of 39% from $1.2 million in Q1 2020. This revenue includes $234,000 from a capital equipment sale and $477,000 from recurring revenue. Total operating expenses rose to $6.8 million, up 28% year-over-year. The net loss was around $7.5 million, or $0.37 per share. Despite early pandemic impacts, the company anticipates potential revenue recovery throughout 2021, with cash reserves at $78.5 million.
Profound Medical Corp. (NASDAQ:PROF) has announced a multi-site imaging center agreement with Akumin Inc. to integrate TULSA-PRO® systems at up to 10 Akumin centers, focusing on men’s health. The partnership aims to enhance prostate care services, particularly in Florida. The first TULSA-PRO® site is expected to be operational in Q4 2021. TULSA-PRO® offers customizable, incision-free treatments for prostate diseases, enhancing patient quality of life.
Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) will release its Q1 2021 financial results on May 12, 2021, after market close. Management will host a conference call at 4:30 p.m. ET to discuss the results and business developments. The call will be accessible via telephone and also broadcast live on the Company’s website. Profound Medical specializes in incision-free therapies for tissue ablation, notably the TULSA-PRO® and Sonalleve® technologies, which are advancing in the medical device market.
Profound Medical Corp. (NASDAQ:PROF) announced on April 14, 2021, that management will present an update on their business at the 2021 Bloom Burton & Co. Virtual Healthcare Investor Conference on April 21, 2021, at 1:30 p.m. ET. The presentation will be available for live streaming and archived on their website in the Investors section. Profound is known for its innovative, incision-free therapies for treating diseased tissue, including TULSA-PRO® for prostate cancer and Sonalleve® for uterine fibroids and pain management.
Profound Medical Corp. (NASDAQ:PROF) has appointed Cynthia Lavoie, Ph.D., MBA, to its Board of Directors, enhancing its leadership team. Dr. Lavoie brings 18 years of healthcare investment experience, including roles at AllosteRx Capital Management and TVM Life Science Management. Her background in venture capital and corporate governance is expected to strengthen Profound's strategy in customizable medical devices. Profound continues to innovate with TULSA-PRO® and Sonalleve®, advanced technologies for treating prostate cancer and uterine fibroids, respectively.
Profound Medical Corp. (NASDAQ:PROF) reported Q4 2020 revenue of approximately $2.9 million, a 36% year-over-year growth. Total operating expenses rose by 14% to $6.1 million, leading to a net loss of $7.5 million, or $0.38 per share. For the full year, revenue was approximately $7.3 million, up 75% from 2019, while total operating expenses increased by 29% to $22.3 million, resulting in a net loss of $21.6 million, or $1.25 per share. As of December 31, 2020, cash balances stood at $83.9 million. The company aims to enhance U.S. market adoption of its TULSA-PRO® technology despite COVID-19 challenges.
Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) announced participation in two investor conferences in March 2021.
Key events include:
- Raymond James 42nd Annual Institutional Investors Conference: March 3, 2021, at 7:30 a.m. ET.
- Cowen 41st Annual Health Care Conference: March 4, 2021, at 9:10 a.m. ET.
Both fireside chats will be live-streamed and archived on the company's website. Profound is known for its incision-free therapies for ablation of diseased tissue, particularly the TULSA-PRO® and Sonalleve® technologies.
Profound Medical Corp. (NASDAQ:PROF) announced its participation in a fireside chat at the BTIG Virtual MedTech Conference on February 18, 2021, at 12:00 p.m. ET. The event will be broadcast live and available for later viewing on the company’s website. Profound specializes in customizable, incision-free therapies for the ablation of diseased tissue, focusing on technologies like TULSA-PRO® and Sonalleve®. TULSA-PRO® targets prostate cancer, while Sonalleve® addresses uterine fibroids and bone metastases. Both technologies hold health regulatory approvals, including CE marking and FDA clearance.
Profound Medical Corp. (NASDAQ: PROF) plans to announce its fourth quarter and full year 2020 financial results on March 2, 2021, post-market close. Management will host a conference call at 4:30 p.m. ET for reviewing these results and discussing business developments. Profound specializes in customizable, incision-free therapies, notably TULSA-PRO® for prostate ablation and Sonalleve® for treating uterine fibroids. The company's technologies are CE marked, FDA cleared, and hold various international approvals.
Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) plans to release its third quarter 2020 financial results on November 5, 2020, after market close. A conference call to discuss the findings will occur at 4:30 p.m. ET the same day. Profound is a leading medical device company specializing in customizable, incision-free therapies for tissue ablation. Its key technologies include TULSA-PRO®, designed for radiation-free prostate ablation, and Sonalleve®, which treats uterine fibroids and palliative pain. Both technologies have received necessary regulatory approvals, enhancing the company's market position.
FAQ
What is the current stock price of Profound Med (PROF)?
What is the market cap of Profound Med (PROF)?
What is the primary focus of Profound Med Corp?
How does the TULSA-PRO system work?
What architecture does Profound Med Corp use in its product design?
How does Profound Med Corp differentiate itself in the competitive medical device market?
What benefits does the system offer to patients?
How does the technology integrate with existing healthcare systems?
What roles do real-time imaging and thermal feedback play in the procedure?
What market segment does Profound Med Corp target?
