Business
NeuroOne Reports Third Quarter Fiscal 2021 Financial Results and Corporate Update
EDEN PRAIRIE, Minn., Aug. 13, 2021 /PRNewswire/ -- NeuroOne Medical Technologies Corporation (Nasdaq: NMTC; "NeuroOne" or the "Company"), a medical technology
About this update from Neuroone Medical Technologies Corporation
[{"type":"text","content":"EDEN PRAIRIE, Minn., Aug. 13, 2021 /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, announces today financial results for the quarter ended June 30, 2021.\nThird Quarter and Fiscal 2021 Recent Business Updates\nUplisted to the Nasdaq Capital Market under existing ticker symbol \"NMTC\" Launched the first product, the Evo Cortical Electrode, with Zimmer Biomet Submitted a 510(k) to FDA for Company's Evo sEEG Electrode Initiated testing for electrodes intended to provide therapeutic stimulation for back pain which represents over a $3 billion market in the United States Completed the initial manufacturing run for miniaturized electrodes that may be useful in more complex conditions requiring artificial intelligence Formed an advisory board of leading neurosurgeons to assist in accelerating its ablation electrode program Multifunction electrode intended to both record brain activity and ablate the problematic brain tissue Expected to reduce hospitalizations, eliminate the need for a separate second surgery and reduce overall time and cost Company intends to market the hardware and software as well Completed first performance milestone in Zimmer Biomet agreement Announced first human commercial use of its Evo Cortical diagnostic electrode at Mayo Clinic in Rochester, Minnesota Appointed 30-year finance executive, Ronald McClurg, as Chief Financial Officer Appointed 20-year Medtronic veteran, Hijaz Haris, as Vice President of Marketing Closed a $12.5 million private placement with certain prominent institutional investorsDave Rosa, CEO of NeuroOne commented, \"During our fiscal third quarter and year to date, we made significant progress across our product portfolio. We began the period with the first human commercial use of our first FDA approved diagnostic product at Mayo Clinic. We submitted a 510(k) for our second diagnostic product line and remain on target to commercialize by calendar year end. We continue to make great progress on our ablation electrode, which will be our first therapeutic device, and are targeting a launch in the next eighteen months. Additionally, we expect data on our chronic use electrode technology later this year...