The following is a summary of the NeuroOne Medical Technologies Corporation (NMTC) Q2 2024 Earnings Call Transcript:
Financial Performance:
NeuroOne reported a significant growth in Q2 product revenue of $1.377 million, in fiscal 2024 compared to $466,000 in the same period in fiscal 2023.
The company experienced a decrease in operating expenses from $3.5 million in Q2 fiscal 2023 to $3.3 million in Q2 fiscal 2024.
Despite an improvement in net loss for Q2 fiscal 2024 compared to the same period in 2023, the net loss for the first six months of FY 2024 increased to $6.2 million.
Business Progress:
The company made progress in commercialization and product development, with a significant increase in sales through their collaboration with Zimmer Biomet.
NeuroOne introduced the OneRF Ablation System and anticipates adding more centers in the coming quarter.
The company is also diversifying indications for their ablation generator for pain treatment and is in the midst of developing a proprietary percutaneous delivery system. They are expected to submit a new FDA application by the end of the year.
More details: NeuroOne Medical IR
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