Catheter Precision, Inc. - VTAK STOCK NEWS

Catheter Precision, Inc. (NYSE American:VTAK), a MedTech company specializing in cardiac electrophysiology, has announced its first purchase order for LockeT from a hospital in the greater Chicago area. This order comes from one of the hospitals within the Endeavor Health System, the third largest healthcare system in Illinois with 9 hospitals, over 300 care sites, and more than 7,100 physicians.

The company recently expanded its US sales and clinical team in preparation for LockeT's national product launch. Marie-Claude Jaques, Chief Commercial Officer, expressed optimism about the company's sales infrastructure and anticipates more purchase orders in the coming months. This development aligns with Catheter Precision's goal to bring LockeT's potential benefits to patients, physicians, and hospitals across the US.

Catheter Precision (NYSE American:VTAK) has closed its public offering of 805,900 common stock units and 2,773,000 pre-funded warrant units, priced at $1.00 and $0.9999 per unit respectively. The offering includes 458,623 common stock units issued upon exercise of the underwriters' over-allotment option. Each unit consists of one share (or pre-funded warrant), and three warrants (Series H, I, and J) with varying expiration dates. The total gross proceeds amount to $3.6 million. Ladenburg Thalmann & Co. acted as the sole book-running manager for this offering, which was conducted pursuant to effective registration statements filed with the SEC.

Catheter Precision (NYSE American: VTAK) has announced the pricing of a $3.1 million underwritten public offering of common stock units and pre-funded units. The offering includes 347,277 common stock units at $1.00 per unit and 2,773,000 pre-funded warrant units at $0.9999 per unit. Each unit consists of one share of common stock (or a pre-funded warrant), and three warrants (Series H, I, and J) with varying expiration dates. Ladenburg Thalmann & Co. Inc. is acting as the sole book-running manager. The company has granted a 45-day over-allotment option to the underwriter. The offering is expected to close around September 3, 2024, subject to customary conditions.

Catheter Precision, Inc. (NYSE American: VTAK) has released its Q2 2024 financial results and operational report. Key highlights include:

• First commercial sales of LockeT in the US
• 14 new sales and clinical hires
• 23 hospitals scheduled for LockeT evaluations, 10 for VIVO
• VIVO evaluation started at a large volume center in Italy
• Total assets of $26 million as of June 30, 2024
• Total revenues of $93,000 for Q2 and $175,000 for H1 2024
• Net loss of $4.2 million for Q2 and $6.9 million for H1 2024
• LockeT sales of $38,000 for both Q2 and H1 2024

CEO David Jenkins emphasized the company's focus on acquiring talent to support their new sales strategy under the new Chief Commercial Officer.

Catheter Precision, Inc. (NYSE American:VTAK) has announced the publication of its first LockeT study in the Journal of Cardiovascular Electrophysiology. The study, involving 102 patients and 182 LockeT devices, demonstrates the effectiveness and safety of LockeT, a novel external compression vascular closure device. Key findings include:

• Immediate hemostasis achievement
• 98% hemostasis retention at 2 hours
• No major complications observed
• Majority of patients discharged same day
• Average time to ambulation under 4 hours

The study suggests LockeT offers benefits similar to manual compression without prolonged bed rest or monitoring, facilitating early mobilization and same-day discharge. Further studies are ongoing, with the next one expected to conclude this year.

Catheter Precision (NYSE American:VTAK) has reached a significant milestone in its LockeT-II Study, enrolling 75 patients. The study, part of a three-phase clinical trial, is expected to conclude in October 2024. This Phase II trial compares LockeT to manual compression, the current standard of care, in a randomized study of up to 100 patients.

The study aims to further evaluate LockeT's safety and effectiveness, as well as potential benefits such as pain reduction and cost savings. The successful completion of Phase I in 2023 demonstrated LockeT's functionality and safety, leading to the product's roll-out in early 2024. Final data analysis from Phase II will be submitted for peer-reviewed publication.

Catheter Precision, Inc. (NYSE American:VTAK) has announced the completion of patient follow-up for the VIVO European Registry, which enrolled 125 patients from October 2021 to June 2023. The registry aims to collect real-world data on VIVO's use and benefits for pre-procedure planning of ventricular ablation. Data is expected to be available in Q4 2024.

Additionally, the company reported new product evaluations of VIVO. Three European hospitals, including Manchester University NHS, Wythenshawe Hospital (UK), Institute for Clinical and Experimental Medicine (Prague), and Cardinal Massaia Hospital (Italy), are beginning evaluations in July. Two US hospitals in California and Washington are also scheduled to start VIVO procedures this month as part of initial evaluations.

Catheter Precision, Inc. (NYSE American: VTAK) has implemented a 1-for-10 reverse stock split effective July 15, 2024. The company's common stock will continue trading on the NYSE American under the symbol 'VTAK' with a new CUSIP number 74933X 609. This move reduces the number of issued shares from 9,012,518 to approximately 901,251. The split aims to ensure compliance with NYSE American's minimum stock price requirement, lower Delaware franchise taxes, and potentially broaden the investor base. No fractional shares will be issued, and affected stockholders will receive pro-rata proceeds from the sale of fractional shares. The split does not alter stockholders' equity percentage or impact market capitalization.

Catheter Precision (NYSE American: VTAK) has reported preliminary unaudited revenue for Q2 and the first half of 2024. The company, known for its innovations in cardiac electrophysiology, saw a 15% quarter-over-quarter revenue growth. Initial sales of the new LockeT product contributed $40,500, while VIVO products added $54,340. Total revenue for Q2 2024 amounted to $94,840, with the six-month figure reaching $176,923. CEO David Jenkins credits the early success to the new sales team, led by Chief Commercial Officer Marie Claude Jaques. The company anticipates continued growth with a promising customer pipeline.