An announcement from Conavi Medical ( (TSE:CNVI) ) is now available.
Conavi Medical Corp. announced its fiscal Q1 2025 financial results, marking its first quarter as a public company with a successful $10.6 million CAD fundraising. The company completed a reverse takeover of Titan Medical Inc., and its shares are now trading on the TSX Venture Exchange. Significant progress was made with the Novasight Hybrid System, including a design freeze and upcoming usability testing, with a U.S. FDA submission planned for Q3 2025. The company also achieved a major milestone with its Chinese partner, East Ocean Medical, receiving approval for its coronary imaging system, triggering a $5.9 million payment to Conavi. This positions the company for a recurring royalty revenue stream, enhancing its market presence and financial stability.
More about Conavi Medical
Conavi Medical Corp. is a commercial stage medical device company that specializes in designing, manufacturing, and marketing imaging technologies for minimally invasive cardiovascular procedures. The company focuses on hybrid intravascular imaging, aiming to enhance patient care through advanced imaging solutions.
YTD Price Performance: 14.79%
Average Trading Volume: 5,403
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $8.49M
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