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QT Imaging Holdings, Inc. (symbol: QTI) is a pioneering company specializing in the research, development, and commercialization of cutting-edge breast imaging technology. Their flagship product is an automated breast imaging system that produces high-resolution transmission ultrasound images, offering a non-invasive, radiation-free alternative to traditional mammography.
The company's core business revolves around providing innovative medical imaging solutions that enhance the accuracy and safety of breast cancer detection. QT Imaging's systems are designed to improve patient comfort and diagnostic confidence by delivering exceptional image quality without the need for compression or ionizing radiation.
Recent achievements for QT Imaging Holdings include significant advancements in their imaging technology, securing regulatory approvals, and expanding their market presence through strategic partnerships with healthcare providers and medical institutions. These collaborations aim to broaden access to their state-of-the-art imaging solutions and drive adoption in various healthcare settings.
Current projects at QT Imaging involve ongoing research and development to further refine their imaging systems and explore new applications for their technology. This includes enhancing image processing algorithms, integrating artificial intelligence for improved diagnostic accuracy, and developing portable imaging solutions for broader accessibility.
Financially, QT Imaging Holdings is committed to maintaining a strong balance sheet and pursuing strategic investments to support their growth initiatives. The company continues to explore opportunities for expanding their product portfolio and entering new markets, while also focusing on increasing shareholder value through sound financial management.
For investors and stakeholders, QT Imaging Holdings represents a dynamic and forward-thinking company at the forefront of medical imaging innovation. Their commitment to improving breast cancer detection and patient care, coupled with their robust technological capabilities, positions them as a key player in the medical imaging industry.
Stay updated with the latest news and developments from QT Imaging Holdings, Inc. to gain insights into their ongoing projects, financial performance, and strategic initiatives.
QT Imaging Holdings (NASDAQ:QTI) has announced the expansion of its Breast Acoustic CT Scanner to Couri Center for Gynecology and Integrative Women's Health in Peoria, IL. The shipment was executed in partnership with NXC Imaging, Inc. The technology offers enhanced breast imaging capabilities, particularly beneficial for patients with dense breasts and those at elevated risk of breast cancer. The system provides painless, true 3D imaging with high resolution. QTI will present its technology at the Empowered Wellness: A Women's Health Summit on March 8, 2025, sponsored by the Couri Center.
QT Imaging Holdings (NASDAQ:QTI) announces its participation in the Radiological Society of North America 2024 Annual Meeting in Chicago, December 1-5, 2024. Dr. Bilal Malik, Chief Science Officer, will present on December 4th at 9:30 am, focusing on Breast Ultrasound Techniques. His presentation will compare quantitative transmission ultrasound imaging with digital breast tomosynthesis (DBT), showcasing results from a multi-reader, multi-case observer study.
The study demonstrates QTI's technology performs comparably to DBT, potentially offering a safe and more accessible option for breast cancer screening and diagnosis.
QT Imaging Holdings (NASDAQ: QTI) reported Q3 2024 financial results with commercial revenue of $1.0 million, including $0.9 million from scanner sales. The company achieved a gross margin of 63%, up from 51% in Q2 2024. Net loss was $3.6 million, including $1.5 million in convertible note interest expenses. The company completed an engineering and clinical feasibility study with its strategic partner and secured a $2.56 million PIPE investment from board members. QTI also amended its convertible note with YA II PN, reducing the principal balance to $8.6 million and extending maturity to March 2026.
QT Imaging Holdings (NASDAQ:QTI) has secured a $1M PIPE investment from company insiders, led by Board Chairman Dr. Avi Katz and CEO Dr. Raluca Dinu, along with four other board members. The deal includes the purchase of 4,383,558 unregistered shares at $0.584 per share with matching warrants at $0.672. Additionally, GigAcquisitions5, agreed to cancel a $1.56M promissory note. The share price represents a 10% premium over the 5-day VWAP. The financing, expected to close by November 29, 2024, will provide working capital as bridge funding while pursuing strategic partnerships and commercialization plans.
QT Imaging Holdings (NASDAQ:QTI) has received a third-year renewal of its five-year NIH/NCI research grant. The study, conducted in collaboration with Sunnybrook Health Sciences Centre and The University of Illinois, aims to develop an accurate breast imaging approach for early identification of breast cancer patients' response to neoadjuvant chemotherapy (NAC). The QTI Breast Acoustic CT™ System has been successfully used to collect high-resolution breast images with biomarkers sensitive to cancer. The next phase will incorporate AI/ML techniques to improve NAC efficacy estimates based on quantitative biomarkers from QTI scans and backscatter analysis.
QT Imaging Holdings (NASDAQ:QTI) has announced a favorable amendment to its $10,000,000 convertible promissory note with YA II PN, The amendment, executed on September 26, 2024, follows a trigger event on September 11, 2024, that led to a $1,500,000 payment by the company on September 13, 2024. Key changes include:
- Extension of the note's maturity date by approximately 6 months to December 15, 2025
- Deferral of all monthly cash payments until January 15, 2025
- Reduction of monthly payment obligations from $1,500,000 to $600,000 during trigger events
- Waiver of potential Nasdaq delisting as an event of default
CEO Dr. Raluca Dinu expressed gratitude for the partnership, stating that the amendment provides runway for QTI's first-year plan as a public company, focusing on commercial shipments of Breast Acoustic CT™ Scanners in the United States.
QT Imaging Holdings (NASDAQ:QTI), a medical device company specializing in innovative body imaging systems, has announced its participation in the IEEE International Ultrasonics Symposium (IUS) in Taipei, Taiwan, from September 22-26, 2024. Dr. James Wiskin will represent QTI in the Medical Imaging subsection, presenting on a novel application of machine learning for image 'cleaning' or artifact removal. This technique preserves diagnostic and quantitative information for accurate diagnoses, applicable to breast images as well as high-resolution orthopedic and pediatric 3D images produced by QTI's technology.
QT Imaging Holdings (NASDAQ:QTI) announces the expansion of its Breast Acoustic CT™ Scanner to Vitality Renewal Functional Medicine in Crystal Lake, Illinois. Dr. Yvonne Karney, the founder, expresses excitement about offering this FDA-cleared, non-invasive 3D breast imaging technology in the Chicagoland area. The QTscan™ provides detailed images without compression or radiation and is more accurate than mammography and hand-held ultrasound for certain breast structures. Dr. Karney highlights the limitations of mammography, especially for women with dense breasts, and emphasizes the importance of offering women alternative screening options. QTI's CEO, Dr. Raluca Dinu, reaffirms the company's commitment to expanding access to their breast imaging technology nationwide.
QT Imaging Holdings (NASDAQ: QTI) reported financial results for Q2 2024:
- Generated $1.7 million in scanner sales revenue with a 51% gross margin
- Net loss of $1.2 million, including $2.1 million non-cash income from fair value changes
- Non-GAAP Adjusted EBITDA of $(2.1) million
Key developments:
- Signed U.S. exclusive distribution agreement with NXC Imaging
- Partnered with University of Oklahoma and OU Health Stephenson Cancer Center
- Delivered four Breast Acoustic CT scanners, expanding to five commercial locations
- Published study showing accurate visualization of breast tissue using QT technology
Outlook: Expects similar revenue pace in H2 2024 with higher gross margins
QT Imaging Holdings (NASDAQ:QTI) has announced a partnership with PerfeQTion Imaging Center in Haverford, Pennsylvania, shipping their Breast Acoustic CT™ Scanner to the facility. Founded by Dr. Jennifer Simmons, PerfeQTion Imaging™ Center offers screening, diagnostic exams, and monitoring services. The QTI technology provides a safe, painless, and accurate alternative for breast imaging, without the use of radiation.
Dr. Simmons believes this technology will revolutionize breast cancer screening, especially for young and high-risk women who are more susceptible to radiation damage. QTI's CEO, Dr. Raluca Dinu, emphasized that their technology is expanding medical imaging opportunities beyond traditional settings, supporting direct-to-provider approaches to lower healthcare costs and increase access.
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