Business
HeartBeam Reports Fourth Quarter and Full Year 2021 Financial Results
Initiates Strategic Partnerships to Advance Emergency Department (ED) Myocardial Infarction (MI) Software Product & Telehealth Solution Toward FDA Submission
About this update from Heartbeam, Inc.
[{"type":"text","content":"\nInitiates Strategic Partnerships to Advance Emergency Department (ED) Myocardial Infarction (MI) Software Product & Telehealth Solution Toward FDA Submission\n\nRecent IPO Proceeds Provide Ample Cash Runway to Commercialization in FY 2022 and FY 2023\n\nManagement to Host Webcast and Conference Call Today At 4:30 p.m. ET\n\n SANTA CLARA, Calif.--(BUSINESS WIRE)--\nHeartBeam, Inc. (NASDAQ: BEAT), a developmental stage digital healthcare company with a proprietary Electrocardiogram (“ECG”) telemedicine technology for heart attack detection, has reported its financial and operational results for the fourth quarter and full year ended December 31, 2021.\n\nFourth Quarter 2021 and Subsequent Operational Highlights\n\n\nEngaged Triple Ring Technologies to co-develop its telehealth complete solution 3D vector ECG collection device for remote heart attack, Myocardial Infarction (“MI”) monitoring.\n\n\nPartnered with Phoebe Putney Health System, signed a Business Associate Agreement (“BAA”) and Clinical Trial Agreement (“CTA”) to conduct a pilot study designed to evaluate HeartBeam’s Emergency Department (“ED”) MI software product.\n\n\nSigned a partnership agreement with LIVMOR Inc., a digital health solutions company, to build a HeartBeam branded version of LIVMOR’s Halo+ FDA cleared platform for both use in the ED and hosted on a web browser, and for remote patient monitoring (“RPM”) to connect physicians and patients.\n\n\nEstablished a Scientific Advisory Board (“SAB”) to provide scientific guidance and insight to HeartBeam’s medical studies, research, and product pipelines. In conjunction, world-renowned cardiologist C. Michael Gibson, MS, MD, was appointed as Chairman of the new SAB.\n\n\nAppointed commercial medical device veteran Alan Baumel as Chief Operating Officer to lead rollout of HeartBeam’s initial two products.\n\n\nOn November 15, 2021, successfully completed its initial public offering (IPO), selling 2,750,000 shares to the public at $6.00 per Unit, and 3,125,000 five-year warrants to acquire one share of common stock with an exercise price of $6.00 per share.\n\n\nNet proceeds raised in HeartBeam’s IPO were $14.9 million, after deducting underwriting discounts and commissions. The Company subsequently sold an additional 58,000 shares and five-years warrants at $6.00 per share, all unregistered, for an additional $3...