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) 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.
Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) announced its participation in two investor conferences this November. On November 18, it will engage in one-on-one meetings during the Canaccord Genuity Virtual MedTech Forum. Additionally, Profound will host a pre-recorded fireside chat at the Jefferies London Healthcare Conference, available on-demand from 3:00 a.m. ET on the same day. Profound specializes in customizable, incision-free therapies for tissue ablation, notably its TULSA-PRO® and Sonalleve® technologies, which have received various regulatory approvals.
Profound Medical Corp. (NASDAQ: PROF; TSX: PRN) will announce its third quarter 2021 financial results on November 4, 2021, after market close. A conference call will be held at 4:30 p.m. ET the same day to discuss the results and business developments. Profound specializes in customizable, incision-free therapies for diseased tissue, including the TULSA-PRO® system for prostate ablation and Sonalleve® for uterine fibroids. Both technologies have received necessary regulatory approvals, enhancing their market potential.
Profound Medical Corp. (NASDAQ: PROF) has announced its participation in two upcoming investor conferences in September 2021. On September 15, the company will hold one-on-one meetings at Lake Street’s 5th Annual Best Ideas Growth Conference. Following that, on September 30 at 8:00 a.m. ET, Profound will present at the Cantor Virtual Global Healthcare Conference, which will be broadcast live on its website. Profound focuses on developing incision-free therapies, like TULSA-PRO® for prostate cancer and Sonalleve® for uterine fibroids.
Profound Medical Corp. (NASDAQ: PROF) reported a strong second quarter for 2021, with revenue of approximately $2.6 million, a 156% increase year-over-year. The growth was driven by a 145% rise in recurring revenues. Despite increased operational expenses totaling $7.6 million, net loss slightly widened to about $7.0 million, or $0.35 per share. The company maintains a solid liquidity position with $73.8 million in cash. CEO Arun Menawat remains optimistic about future performance, despite ongoing COVID-19 challenges in certain markets.
Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) announced participation in A.G.P.'s Virtual MedTech Summer Conference on July 29, 2021. The event will feature one-on-one virtual investor meetings, with no webcast available.
Profound specializes in incision-free therapies for diseased tissue, including the TULSA-PRO® for prostate ablation and Sonalleve® for uterine fibroids. Both technologies have received various regulatory approvals, enhancing their market potential.
Profound Medical Corp. (NASDAQ: PROF; TSX: PRN) will announce its Q2 2021 financial results on August 4, 2021, after market close. A conference call will follow at 4:30 p.m. ET for management to discuss the results and business developments. Profound is known for its innovative medical devices, including the TULSA-PRO® for prostate ablation and Sonalleve® for uterine fibroid treatment. The company has received CE marking and FDA clearance for its technologies, showing strong regulatory support for its offerings.
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