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NeuroOne Reports First Quarter Fiscal Year 2022 Financial Results and Provides Corporate Update
EDEN PRAIRIE, Minn., Feb. 14, 2022 /PRNewswire/ -- NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) ("NeuroOne" or the "Company"), a medical
About this update from Neuroone Medical Technologies Corporation
[{"type":"text","content":"EDEN PRAIRIE, Minn., Feb. 14, 2022 /PRNewswire/ -- NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) (\"NeuroOne\" or the \"Company\"), a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders today announces its operating results for the first quarter of fiscal year 2022 ended December 31, 2021.\n\n \n \n \n \n \n \n\n \nFirst Quarter and Recent Business Updates\nSubmitted clearance request to FDA for less than 30-day use of NeuroOne's Evo® sEEG Electrode, which has already been 510(k) cleared for temporary (less than 24 hours) use Exhibited our Evo cortical electrode product family at the American Epilepsy Society Meeting in Zimmer Biomet's booth Presented poster with the following title at American Epilepsy Society (AES) annual meeting in December 2021: \"First FDA-cleared thin film electrode for intracranial recording and monitoring of brain activity – device testing and initial clinical use.\" Surpassed five years of accelerated aging testing for recording electrodes Received initial stocking orders from Zimmer Biomet for EVO sEEG electrodes Appointed Chad Wilhelmy as Vice President of Quality Control and Regulatory Affairs NeuroOne featured on \"The Medical Alley\" Podcast in December 2021 Closed on an underwritten registered public offering of 4,172,057 shares of its common stock at a price of $3.20 per share with gross proceeds of $13.35 millionDave Rosa, CEO of NeuroOne commented, \"During and subsequent to our fiscal first quarter, we made significant advancements across our product portfolio. We submitted a request to the FDA for additional regulatory clearance of our Evo sEEG labeling for longer term use. We submitted responses on February 9, 2022, to questions from the FDA regarding our submission and the FDA acknowledged receipt of our response on February 10, 2022. We remain ready to fulfill our initial stocking order to Zimmer Biomet upon an FDA clearance. Product shipment following FDA clearance of our sEEG product family also qualifies the Company for an additional milestone payment from our distribution partner, Zimmer Biomet. Additionally, we advanced development of our ablation electrode, and are focused on having complete system prototypes by the end of the third calendar quarter of 2022 and submitting for 510(k) clearance...