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Soliton, Inc. (Nasdaq: SOLY) announced participation in a fireside chat at the Cantor Virtual Global Healthcare Conference on September 15, 2020, at 2:00 PM ET. The company specializes in medical devices, focusing on a proprietary technology for tattoo removal using rapid acoustic shockwaves. Soliton aims to bring its Rapid Acoustic Pulse (RAP) device to market, enhancing tattoo removal efficiency and reducing costs for patients. Webcasts of the presentations will be available on Soliton's investor relations website for 90 days after the event.
Soliton, Inc. (Nasdaq: SOLY) announced the initiation of tooling production for an improved cartridge in its Rapid Acoustic Pulse (RAP) device. Tooling components are expected to be completed by mid-September, allowing for scalable production. The updated cartridge features enhanced user-friendliness including automatic cartridge management and counterfeit detection. This production step is essential for the upcoming product launch and aims to improve profit margins through cost reductions. The RAP device is currently FDA-cleared for tattoo removal, with additional capabilities under investigation.
Soliton, Inc. (Nasdaq: SOLY) announced its participation in the Masters in Aesthetics Symposium in San Diego, CA, on August 29-30, 2020. Dr. Vic Ross will present on tattoo removal efficacy, while Dr. Matt Avram will discuss recent data from a cellulite trial. CEO Christopher Capelli emphasized the significance of showcasing their aesthetic solutions. The company’s RAP device, focused on tattoo removal, is set for launch next year, although it has not yet received FDA clearance for cellulite treatment.
Soliton, Inc. (Nasdaq: SOLY) announced the completion of an advanced design for its Rapid Acoustic Pulse (RAP) device's handpiece and cartridge. This includes enhanced features for user-friendliness and efficiency, such as automatic cartridge handling and counterfeit detection. The new design will move to mass production before the product launch. CEO Christopher Capelli highlighted that the design improvements capitalize on the COVID-19 delay and aim to boost revenue through single-use cartridges. The RAP technology is currently only FDA-approved for tattoo removal, with potential future applications pending.
Soliton, Inc. (Nasdaq: SOLY) reported its second-quarter financial results on August 11, 2020. Highlights include FDA acceptance for the Rapid Acoustic Pulse (RAP) device's 510(k) application for cellulite reduction and positive clinical trial results showing an average 32.5% reduction in Cellulite Severity Score from a single treatment. The company raised $35 million in a follow-on offering, extending its cash runway into Q4 2022. Operating expenses increased to $3.1 million, while the net loss was $3.1 million, consistent with the previous year.
Soliton, Inc. (Nasdaq: SOLY) has appointed Dr. Sachin Shridharani to its Scientific Advisory Board, effective immediately. Dr. Shridharani is recognized for his expertise in aesthetic plastic surgery, which is expected to enhance Soliton's plans for the commercialization of its RAP device. This device, which utilizes acoustic shockwaves for tattoo removal, is not yet FDA-cleared for cellulite treatment, despite high demand for effective noninvasive options. CEO Christopher Capelli highlighted the importance of Dr. Shridharani's leadership in innovative cosmetic practices.
Soliton, Inc. (Nasdaq: SOLY) will report its second quarter 2020 financial results and provide a business update on August 11, 2020. The company specializes in a novel healing technology licensed from MD Anderson Cancer Center, with a focus on the Rapid Acoustic Pulse (RAP) device for tattoo removal. A conference call will occur at 8:30 a.m. ET, followed by a Q&A session. The RAP device has FDA clearance for tattoo removal but is still under investigation for other uses. A replay of the call will be available until August 18, 2020.
Soliton, Inc. (Nasdaq: SOLY) announced that Dr. Elizabeth Tanzi will present results from its pivotal cellulite clinical trial at the 2020 Virtual Music City Symposium on July 25. The trial showed an average reduction of 32.5% in Cellulite Severity Score, enhancing the credibility of Soliton's RAP device. The presentation follows an earlier display at the AAD 2020 VMX Virtual Conference. Soliton aims to leverage this opportunity to share outcomes with the physician community, promoting its innovative technology for cellulite treatment.
Soliton, Inc. (Nasdaq: SOLY) announced an updated timeline for the U.S. commercialization of its Rapid Acoustic Pulse (RAP) device, aiming for launch in the first half of 2021. The device, cleared for tattoo removal, is expected to include cellulite reduction capabilities pending FDA approval. The commercialization plan follows a $35 million capital raise intended to fund manufacturing and marketing efforts. Despite challenges related to COVID-19 impacting clinical trials, Soliton remains optimistic about its future prospects.
Soliton, Inc. (Nasdaq: SOLY) announced on July 1, 2020, that it filed for 510(k) premarket clearance with the FDA for its second generation Rapid Acoustic Pulse (RAP) device to reduce the appearance of cellulite. The filing is based on a pivotal clinical trial showing a 32.5% average reduction in Cellulite Severity Score and high patient satisfaction (91.9% improvement agreement). The RAP device was previously cleared for tattoo removal, and the company aims to expand its commercial capabilities in the aesthetic market.
