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Profound Med Corp - PROF STOCK NEWS

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.

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Profound Medical Corp. will participate in a fireside chat at the Barclays 26th Annual Global Healthcare Conference on March 13, 2024. The company develops incision-free therapies for tissue ablation and will broadcast the chat live on its website.
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Profound Medical Corp. partners with Siemens Healthineers to offer a complete therapeutics solution combining TULSA-PRO® system with MAGNETOM Free.Max MRI scanner. The collaboration aims to provide innovative prostate cancer treatment with real-time MR guidance for precision. TULSA-PRO® allows for ablation of prostate tissue in a 'one-and-done' procedure, enhancing patient experience and recovery. The partnership is set to revolutionize prostate cancer diagnosis and treatment, improving outcomes for patients worldwide.
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Profound Medical Corp. will announce its Q4 and full year 2023 financial results on March 7, 2024, with a conference call to discuss business developments. The Company develops incision-free therapies for tissue ablation.
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Profound Medical Corp. (PROF) has entered into subscription agreements with Canadian institutional investors for a non-brokered private placement, raising approximately US$2,937,502. The Company will issue 391,667 common shares at a price of US$7.50 per share, with the proceeds intended for commercialization and development of its medical systems and general corporate purposes.
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Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) announced preliminary unaudited revenues for the fourth quarter and full year 2023, with total revenues for Q4 expected to be in the range of $1.9 million to $2.0 million, representing recurring revenue growth of 51% to 59% year-over-year. Full year 2023 revenues are anticipated to be in the range of $7.1 million to $7.2 million. The company is making progress with the commercialization of TULSA-PRO® in the United States and is focused on increasing the installed base and system utilization of TULSA-PRO® in preparation for the permanent CPT® Category 1 codes for TULSA going into effect at the beginning of 2025.
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Profound Medical Corp. (TSX:PRN; NASDAQ:PROF) announced the pricing of its underwritten public offering of 2,666,667 common shares at a price to the public of US$7.50 per Common Share, led by healthcare focused institutional investors. Gross proceeds to the Company from the Offering are expected to be approximately US$20,000,000. Titan Partners Group, a division of American Capital Partners, is acting as the sole bookrunner for the Offering.
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Profound Medical Corp. (TSX:PRN; NASDAQ:PROF) announces the commencement of an underwritten public offering in the United States of common shares. The Company intends to file a preliminary prospectus supplement to its short form base shelf prospectus in the United States and Canada. The Offering will be priced in the context of the market, with the total size to be determined at the time of entering into an underwriting agreement. The Company expects to grant the underwriter an over-allotment option to purchase up to an additional 15% of the Common Shares. The net proceeds of the Offering are expected to be used to fund the continued commercialization of the TULSA-PRO® system in the United States, fund the continued development and commercialization of the TULSA-PRO® system and the Sonalleve® system globally, and for working capital and general corporate purposes.
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Profound Medical Corp (NASDAQ:PROF; TSX:PRN) announced its participation in the Stifel 2023 Healthcare Conference to provide an update on the Company’s business. The presentation will be broadcast live and archived on the Company's website.
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Profound Medical Corp. announced that the use of HCPCS C code, C9734, has been extended for use in the Ambulatory Surgical Center setting, and MRI-Monitored Transurethral Ultrasound Ablation (TULSA) of prostate tissue has been assigned device-intensive status. The ASC extension will go into effect on January 1, 2024. This decision by CMS allows hospitals and ASCs performing the TULSA procedure on Medicare patients to utilize the temporary C code, C9734.
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Profound Medical Corp. reported financial results for Q3 2023, with revenue of $1.7 million, a 40% increase in recurring revenue compared to Q3 2022. The company received FDA clearance for its TULSA AI Thermal Boost module. Total operating expenses decreased by 18% to $7.6 million. Net loss for Q3 2023 was $5.6 million.
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FAQ

What is the current stock price of Profound Med (PROF)?

The current stock price of Profound Med (PROF) is $4.81 as of April 15, 2025.

What is the market cap of Profound Med (PROF)?

The market cap of Profound Med (PROF) is approximately 139.1M.

What is the primary focus of Profound Med Corp?

Profound Med Corp specializes in developing and marketing incision-free, image-guided therapeutic systems for the ablation of diseased tissue, specifically focusing on prostate ablation.

How does the TULSA-PRO system work?

The TULSA-PRO system combines real-time MRI guidance with transurethral therapeutic ultrasound and closed-loop thermal feedback control, allowing for precise, patient-specific ablation of prostate tissue.

What architecture does Profound Med Corp use in its product design?

Their platform leverages existing MRI infrastructure, integrating advanced imaging with durable equipment and one-time use devices to seamlessly fit within current clinical settings.

How does Profound Med Corp differentiate itself in the competitive medical device market?

The company differentiates itself through its minimally invasive approach, emphasis on precision via closed-loop feedback, and its ability to deliver safe, efficient treatments tailored to individual patient anatomy.

What benefits does the system offer to patients?

The system provides short treatment times, low morbidity, and a tailored approach to prostate ablation, facilitating faster recovery compared to traditional invasive procedures.

How does the technology integrate with existing healthcare systems?

The product is designed to work alongside the healthcare system's existing MRI scanners, making it easier for clinics and hospitals to adopt the technology without extensive additional investments.

What roles do real-time imaging and thermal feedback play in the procedure?

Real-time MRI ensures that the treatment is precisely targeted and adjusted according to patient-specific conditions, while the closed-loop thermal feedback system maintains accurate temperature control during ablation.

What market segment does Profound Med Corp target?

Profound Med Corp targets the specialized medical device market focusing on non-invasive therapeutic systems, particularly those designed for the ablation of prostate tissue in patients with prostate cancer.
Profound Med Corp

Nasdaq:PROF

PROF Rankings

PROF Stock Data

139.09M
27.63M
7.22%
50.52%
1.58%
Medical Devices
Surgical & Medical Instruments & Apparatus
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