Profound Medical Corp. - PROF STOCK NEWS

Profound Medical Corp. (NASDAQ: PROF) will announce its Q1 2022 financial results on May 9, 2022, following market close. The company's management will host a conference call at 4:30 p.m. ET to discuss the results and business developments. Profound specializes in incision-free therapies for tissue ablation, highlighted by its products like TULSA-PRO®, which integrates real-time MRI and ultrasound technology for prostate treatments. The company also offers Sonalleve®, targeting uterine fibroids and bone metastases pain, with multiple regulatory approvals.

Profound Medical Corp. (NASDAQ:PROF) announced its financial results for Q4 and full year 2021. Q4 revenue decreased to $1.0 million from $2.9 million, with a net loss of $10.2 million, up from $7.5 million in Q4 2020. Full year revenue was approximately $6.9 million, a slight decline from $7.3 million in 2020. Operating expenses rose by 49% to $33.2 million, with R&D expenses increasing 54%. Despite COVID-19 impacts, Profound noted improved TULSA-PRO installations and recurring revenue growth of 37%. Cash reserves stand at $67.2 million as of December 31, 2021.

Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) will participate in two upcoming investor conferences in March. The 42nd Annual Cowen Health Care Conference is scheduled for March 7, 2022, at 10:30 a.m. ET, and the Raymond James 43rd Annual Institutional Investors Conference will follow on March 9, 2022, at 9:50 a.m. ET. Both presentations will be accessible via live broadcast and archived on Profound's website. Profound specializes in customizable, incision-free therapies for the ablation of diseased tissue, including TULSA-PRO® and Sonalleve® technologies.

Profound Medical Corp. (NASDAQ:PROF) announced the first agreement for its TULSA-PRO® system compatible with GE Healthcare’s 3T MRI scanners, signed with Brigham and Women's Hospital. This partnership aims to enhance the treatment of prostate cancer, which is increasingly prevalent worldwide. CEO Arun Menawat highlighted that this compatibility could boost market access by 30-40%. TULSA-PRO® is designed for incision-free ablation of diseased prostate tissue while preserving healthy areas, with CE, Health Canada, and FDA clearances.

Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) will announce its fourth quarter and full-year 2021 financial results on March 3, 2022, after market close. The management will host a conference call at 4:30 p.m. ET to review these results and discuss business developments. Profound specializes in customizable, incision-free therapies for tissue ablation, notably the TULSA-PRO® and Sonalleve® technologies. These devices address conditions like prostate cancer and uterine fibroids and have received necessary regulatory approvals from CE, Health Canada, and the U.S. FDA.

Profound Medical Corp. (NASDAQ: PROF; TSX: PRN) announced its management's participation in the BTIG MedTech Conference scheduled from February 15-17, 2022. The event will feature one-on-one investor meetings but will not include a webcast. Profound specializes in incision-free medical therapies, notably the TULSA-PRO® system for prostate cancer treatment and the Sonalleve® platform for uterine fibroids and palliative pain. Both technologies are CE marked and FDA approved, positioning Profound as a leader in innovative medical solutions.

Profound Medical Corp. (NASDAQ:PROF) has initiated the Level 1 CAPTAIN trial, which compares the TULSA procedure to radical prostatectomy (RP) in men with localized prostate cancer. The trial includes 201 patients, with 134 receiving TULSA and 67 undergoing RP. It aims to demonstrate that TULSA maintains efficacy while improving quality of life outcomes, focusing on preserving erectile function and urinary continence at one year. Successful results could enhance reimbursement strategies and expand awareness of TULSA-PRO, a leading technology in prostate cancer treatment.

Profound Medical Corp. has appointed Kenneth Knudson as Chief Commercial Officer to lead global sales, marketing, and reimbursement initiatives. With over 25 years of experience in the medical device sector, Knudson previously served as CEO of Perineologic and held executive positions at Boston Scientific. His leadership is expected to enhance the commercialization of Profound's technologies, including TULSA-PRO® and Sonalleve®. TULSA-PRO® provides incision-free prostate ablation, while Sonalleve® treats uterine fibroids and pain from bone metastases. Both technologies have received regulatory approvals in various markets.

Profound Medical Corp. (NASDAQ: PROF) reported Q3 2021 financial results, revealing revenue of approximately $2.5 million, a 13% increase from $2.2 million year-over-year. The revenue comprised $1.4 million from capital equipment sales and $1.1 million from recurring sources. Operating expenses rose to $8.6 million, a 30% increase. The net loss narrowed slightly to $6.0 million, or $0.29 per share, compared to $6.1 million in Q3 2020. As of September 30, 2021, cash reserves were approximately $72.2 million.