Endra Life Sciences ( (NDRA) ) has released its Q3 earnings. Here is a breakdown of the information Endra Life Sciences presented to its investors.
ENDRA Life Sciences Inc., a company at the forefront of medical technology, specializes in Thermo Acoustic Enhanced UltraSound (TAEUS®) to measure liver fat content, targeting the healthcare industry, particularly for chronic liver conditions.
In its recent earnings report for the third quarter of 2024, ENDRA Life Sciences highlighted significant advancements in its TAEUS platform, a reduction in operating expenses, and progress in clinical studies aimed at regulatory submission. The company continues to focus on improving its technology and securing clinical data to support its regulatory goals.
Key highlights include the development of new AI-based features to enhance the TAEUS system’s accuracy and ease of use, the acceleration of subject recruitment for clinical evaluations, and a new clinical study at LMU University Hospital in Germany. Additionally, the company strengthened its intellectual property portfolio with a new patent in Europe and achieved a 54% reduction in operating expenses, reflecting a strategic shift in resource allocation.
Financially, ENDRA reported a net loss of $2.4 million for the quarter, an improvement from the previous year’s $3.1 million loss, largely due to reduced operating costs. The company ended the quarter with $4.7 million in cash and cash equivalents.
Looking ahead, ENDRA’s management remains focused on securing the necessary clinical data to support a De Novo regulatory filing with the FDA and advancing its market strategy while maintaining a leaner operational structure to extend its financial runway.
