Business
ENDRA Life Sciences Reports Third Quarter 2021 Financial Results and Provides Business Update
Conference call begins at 4:30 p.m. Eastern time today ANN ARBOR, Mich.--(BUSINESS WIRE)-- ENDRA Life Sciences Inc. (ENDRA) (NASDAQ: NDRA), a pioneer of
About this update from Endra Life Sciences Inc.
[{"type":"text","content":"\nConference call begins at 4:30 p.m. Eastern time today\n\n ANN ARBOR, Mich.--(BUSINESS WIRE)--\nENDRA Life Sciences Inc. (ENDRA) (NASDAQ: NDRA), a pioneer of Thermo Acoustic Enhanced UltraSound (TAEUS®), today reported financial results for the three months ended September 30, 2021 and provided a business update. Highlights of the third quarter of 2021 and recent weeks include:\n\n\nPatient screening was initiated at the University of Pittsburgh Medical Center (UPMC) while it continues to work through a pandemic-related backlog of MRI procedures. Both the UPMC study and the Rocky Vista University College of Osteopathic Medicine (RVUCOM) study, which started scanning patients earlier this year, are comparing liver fat measurements from the TAEUS system to the gold standard, MRI-PDFF. RVUCOM’s study is targeting a total of 200 patients and UPMC’s is targeting 75 patients.\n\n\nIn-person commercial activities increased for the TAEUS system in Europe, despite recent COVID-19 trends. ENDRA’s sales team is conducting in-person sales visits, including group demonstrations, building a robust pipeline of customer leads. In addition, ENDRA participated in trade shows in France with the ability to demonstrate in-person the benefits of the TAEUS system.\n\n\nTAEUS intellectual property (IP) protection bolstered with issuance of 21st U.S. patent. A U.S. patent was issued in October relating to a novel method and system for monitoring tissue temperature during surgical procedures using the TAEUS system. This adds to three U.S. patents issued in July, representing further protection of optimized hybrid ultrasound and thermoacoustic imaging systems for a wide range of applications. ENDRA’s current IP portfolio stands at 89 assets, which the company defines as patents in preparation, filed or issued.\n\n\nStrong balance sheet supports commercial activities in Europe. As of September 30, 2021, ENDRA had cash and cash equivalents of $11.8 million. The company is well-capitalized to continue building its commercial efforts in Europe and to support its clinical evaluation partners worldwide, as it awaits a regulatory determination in the U.S.\n\n\n“In parallel with advancing our commercial plan in Europe, we continue to engage actively with the FDA regarding the TAEUS system’s 510(k) submission. We are working collaboratively with the Agency for a...