imac - IMAC STOCK NEWS

IMAC Holdings, Inc. (Nasdaq: IMAC) announced the completion of the first infusion of its investigational compound using umbilical cord-derived allogenic mesenchymal stem cells in a Phase 1 clinical trial targeting bradykinesia due to Parkinson’s disease. This milestone occurred on December 29, 2020, and marks a significant step in IMAC's development as a regenerative rehabilitation company. The trial will include 15 patients in a dose escalation study, with full enrollment expected by February 2021 and tracking of participants for 12 months.

IMAC Holdings, Inc. (Nasdaq: IMAC) announced the complete waiver of a $1.69 million PPP loan by the SBA. The loan was granted due to operational disruptions caused by COVID-19, leading to the temporary closure of three clinics and a 27% reduction in workforce. Thanks to the funds, 98% of the workforce returned by September 30, 2020. The loan forgiveness will decrease IMAC's debt by $1.69 million, enhancing its liquidity. CEO Jeffrey Ervin highlighted the effective management of PPP funds, which were used for payroll and operational expenses.

IMAC Holdings has successfully regained compliance with Nasdaq’s minimum bid price requirement, as announced on November 30, 2020. Previously, the company faced non-compliance due to its stock closing below $1.00 for over 30 consecutive business days before October 13, 2020. With the matter now resolved, IMAC can continue its listing on the Nasdaq Capital Market. Founded in 2015, IMAC specializes in regenerative orthopedic treatments without surgery or opioids and operates multiple outpatient clinics for sports and orthopedic injuries.

IMAC Holdings, a provider of innovative medical advancements, announced its participation in the Virtual Fall Investor Summit from November 16-18, 2020. CEO Jeff Ervin will present at 9:00AM ET on November 16, discussing the company's regenerative orthopedic treatments that avoid surgery and opioids. Investors can access the presentation via a designated phone line and schedule one-on-one meetings with management. Established in 2015, IMAC operates 15 outpatient clinics focused on treating sports and orthopedic injuries, partnering with notable athletes.

IMAC Holdings (IMAC) reported improved financial performance despite COVID-19 challenges in its Q3 2020 results. The company recorded a sequential increase in net patient revenue to $3.5 million, up 35% from Q2 2020, while patient visits surged 44% quarter-over-quarter, totaling 37,992 visits. G&A expenses declined 20% sequentially to $961,521, driven by operational efficiencies. However, year-over-year patient service revenues decreased 20% due to COVID-19 impacts. IMAC aims to enhance its balance sheet by reducing notes payable by $1.2 million.

IMAC Holdings, Inc. (Nasdaq: IMAC) has announced the acquisition of Lockwood Chiropractic in Webster Groves, Missouri, expanding its Ozzie Smith Center brand. Lockwood Chiropractic has been a community fixture since 1990, generating six-figure revenue. The existing staff and infrastructure will facilitate a seamless transition, with Dr. Sharon Whalen continuing as the clinic's operator. This acquisition aims to enhance patient access in St. Louis, aligning with IMAC's expansion strategy of partnering with successful clinic owners to grow its patient base.

IMAC Holdings has announced the opening of enrollment for its Phase 1 clinical trial testing umbilical cord-derived stem cells for treating bradykinesia due to Parkinson's disease. The trial involves 15 patients and will assess safety and tolerability across three dosage levels at clinical centers in Missouri, Kentucky, and Tennessee. The principal investigator, Dr. Ricardo Knight, indicates significant interest from patients. The market for Parkinson's therapeutics was valued at $2.61 billion in 2018 and is projected to reach $5.28 billion by 2025, highlighting the trial's potential impact.

IMAC Holdings (Nasdaq: IMAC) has appointed Maurice ‘Mo’ Evans, Michael Pruitt, and Cary Sucoff as independent directors to its Board. CEO Jeffrey Ervin highlighted their diverse expertise as essential for IMAC’s growth. Evans, a former NBA player, brings sports and business experience, Pruitt offers insights from finance and hospitality, while Sucoff has extensive securities industry knowledge. The addition of these directors aims to enhance IMAC’s strategic direction amid its focus on regenerative orthopedic treatments. The company operates 15 clinics and advocates non-surgical options for sports injuries and related conditions.

IMAC Holdings, Inc. (Nasdaq: IMAC) has partnered with Safe Balance, LLC to enhance fall risk assessment services for individuals with balance deficiencies. This innovative program leverages proprietary software to evaluate fall risk categories such as prior falls, vision, and balance. IMAC's Vice President of Clinical Development stated that this tool aligns with their non-invasive treatment model while potentially expanding their patient base and revenue. Safe Balance reports that its program has reduced falls by over 20% in implemented locations, aiming to improve patient outcomes and lower healthcare costs.