Business
ClearPoint Neuro Reports Second Quarter 2021 Results
Record Case Volume Supported Clinically During the Quarter SOLANA BEACH, Calif., Aug. 10, 2021 (GLOBE NEWSWIRE) -- ClearPoint Neuro, Inc. (Nasdaq: CLPT) (the
About this update from Clearpoint Neuro Inc.
[{"type":"text","content":"Record Case Volume Supported Clinically During the Quarter\nSOLANA BEACH, Calif., Aug. 10, 2021 (GLOBE NEWSWIRE) -- ClearPoint Neuro, Inc. (Nasdaq: CLPT) (the “Company”), a global therapy-enabling platform company providing navigation and delivery to the brain, today announced financial results for its second quarter ended June 30, 2021. Second Quarter Highlights Reported revenue of $3.4 million, a 38% year-over-year increase;Clinical team supported a record 249 cases, a 98% year-over- year increase;Increased biologics and drug delivery revenue to $1.4 million, a 19% year-over-year increase;Added biologics and drug delivery relationships bringing current count of active partners to approximately 35 from approximately 30 in Q1 2021; andAnnounced FDA clearance of the SmartFrame Array and performed first human cases. Business Outlook The Company continues to estimate total case volume supported to be in the range of 900 – 1000 for 2021; andThe Company continues to estimate revenue to be between $16.0 and $17.5 million for 2021. “The ClearPoint Neuro team enjoyed multiple significant successes in the 2021 second quarter, headlined by our record case volume result, which demonstrated a return to pre-pandemic levels a quarter ahead of schedule,” commented Joe Burnett, the Company’s President and Chief Executive Officer. “Also encouraging has been the resumption of clinical and pre-clinical activities by our biologics and drug delivery partners who have resumed lab-based activities and enrollment in human clinical trials, which we believe puts the regulatory pathway for their therapies back on track. We are currently working with more than 30 partners in the drug delivery space and expect to add additional partners in the second half of 2021. Further, our development and production teams remain on track for all the programs we announced in February, which keeps our planned timelines and key milestones on schedule. While we are monitoring the impact of the new Delta wave of COVID-19 cases, which has again started to put pressure on elective procedures at several customer sites as hospital ICU beds fill up, we believe our biologics and drug delivery business will make up for any potential impact in the second half and we continue to estimate that the range of cases supported by our clinical team will be in a range of 900 – 1000, and that...