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NeuroOne® Reports First Quarter Fiscal Year 2023 Financial Results and Provides Corporate Update
EDEN PRAIRIE, Minn., Feb. 14, 2023 /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, 2023 /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 fiscal first quarter 2023 ended December 31, 2022.\n\n \n \n \n \n \n \n\n \nFiscal First Quarter 2023 and Recent Business Updates\nReceived FDA 510(k) clearance to market the Evo® sEEG Electrode technology for temporary (less than 30 day) use with recording, monitoring, and stimulation equipment for the recording, monitoring, and stimulation of electrical signals at the subsurface level of the brain, enabling NeuroOne to fully address the approximately $100M diagnostic electrode market.A feasibility animal study of the Company's OneRF® therapeutic radiofrequency ablation electrode system was completed under the guidance of Dr. Jamie Van Gompel at the Mayo Clinic in Rochester, MN. OneRF is an sEEG probe-guided RF based system to monitor and adjust settings based on temperature throughout an ablation, a feature designed to improve the safety of the procedure.The first commercial order of Evo® sEEG electrodes for temporary use (less than 30 days) was shipped to the Company's distribution and development partner Zimmer Biomet. NeuroOne continues to build up inventory to meet product forecasts and fulfill additional orders in-house.The Company developed and successfully bench tested an early prototype of a first-of-a-kind device that can deliver drugs (or other diagnostic or therapeutic agents) to the brain while also having the capability to stimulate and record before and after application.Held discussions with strategic organizations regarding the Company's technology in an effort to potentially expand the product footprint in neurology.Exhibited the Evo electrode product family with Zimmer Biomet at the Congress of Neurological Surgeons annual meeting and the American Epilepsy Society and Congress of Neurological Surgeons annual meetings.The Company's scientific posters were presented at the following meetings: Congress of Neurosurgical Surgeons: Title: A Novel Polyimide Stereo-electroencephalographic (sEEG) Electrode: Safety and Performance TestingSociety of Neuroscience Meeting: Title: A Novel Polyimide-Bas...