Business
HeartBeam Reports Second Quarter 2023 Financial Results
Further Strengthens Board of Directors and IP Position, Publishes First Peer-Reviewed Article Management to Host Webcast and Conference Call Today At 4:30
About this update from Heartbeam, Inc.
[{"type":"text","content":"\nFurther Strengthens Board of Directors and IP Position, Publishes First Peer-Reviewed Article\n\n\nManagement to Host Webcast and Conference Call Today At 4:30 p.m. ET\n\n\n SANTA CLARA, Calif.--(BUSINESS WIRE)--\nHeartBeam, Inc. (NASDAQ: BEAT), a cardiac technology company that has developed the first and only credit card-size 3D-vector electrocardiogram (VECG) platform for patient use at home, allowing for the creation of rich data for AI, has reported its financial and operational results for the second quarter ended June 30, 2023.\n\n\nSecond Quarter and Subsequent 2023 Operational Highlights\n\n\n\nClosed a secondary offering of $25.0 million and Registered Direct Offering of $1.5 million in May 2023 for gross proceeds totaling $26.5 million to enable the Company to execute on upcoming clinical and regulatory milestones, and extend cash runway\n\n\n\nAnnounced the publication, in Journal of American College of Cardiology: Advances, of a foundational study demonstrating the ability of HeartBeam’s VECG technology platform to detect the presence of coronary artery occlusions\n\n\n\nAnnounced three additions to the Board of Directors:\n\n\nMichael Jaff, DO, a renowned vascular physician and researcher bringing a wealth of clinical and industry experience\n\n\n\nKen Nelson, a 20-year digital health, medical device, and remote patient monitoring executive and innovator\n\n\n\nMark Strome, with over 40 years of experience in the investment management and securities industry\n\n\n\n\n\n\nAppointed experienced biomedical engineer and cardiology regulatory professional, Deborah Castillo, PhD, as Vice President of Regulatory Affairs\n\n\n\nAnnounced the United States Patent and Trademark Office granted an automated cardiac detection patent for the HeartBeam AIMIGo System, underscoring the company’s Intellectual Property leadership position in the field of VECG\n\n\n\nSubmitted a 510(k) application to the U.S. Food and Drug Administration (FDA) for Version 1 of its HeartBeam AIMIGo™ System\n\n\n\nManagement Commentary\n\n\n“The second quarter of 2023 was highlighted by continued progress and validation of our technologies, the publication of our first, and foundational, study demonstrating the ability of our VECG platform, and several key additions to the team,” said Branislav Vajdic, PhD, Chief Executive Officer and Founder of Heart...