The following is a summary of the ENDRA Life Sciences Inc. (NDRA) Q4 2023 Earnings Call Transcript:
Financial Performance:
For the full fiscal year ending December 31, 2023, ENDRA saw decreased operating expenses from $13.2 million in 2022 to $10.5 million, driven mainly by reduced outlays for research and development and sales & marketing.
The net loss for 2023 came in at $10.1 million or $1.58 per share, an improvement over the net loss of $13.2 million or $4.50 per share recorded in 2022.
As of year-end 2023, the company holds cash and cash equivalents amounting to $2.8 million.
Business Progress:
ENDRA installed its TAEUS system at King's College Hospital in London for a scheduled clinical study with an expected enrollment of 75 subjects.
The company is taking steps to penetrate the US market, scheduling an in-person meeting with the FDA in Q2 2024 as part of the regulatory submission process.
With IRB approval in hand, a new study will compare TAEUS-derived fat fraction measurements with MRI-PDFF in a collaboration with the University of Michigan.
Beyond the existing technology and markets, the company is eyeing new licensing opportunities for its intellectual property.
ENDRA's patent portfolio continues to grow, reaching a total of 75 patents issued globally.
More details: ENDRA Life Sciences IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.