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NeuroOne® Reports Fiscal Fourth Quarter and Full Fiscal Year 2022 Financial Results
EDEN PRAIRIE, Minn., Dec. 22, 2022 /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., Dec. 22, 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, announces financial results for the fiscal fourth quarter and full fiscal year ended September 30, 2022.\n\n \n \n \n \n \n \n\n \nDave Rosa, CEO of NeuroOne, commented, \"The Company made great progress in fiscal 2022 in a wide variety of areas including commercialization, development and capital raises, which will allow us to continue to execute our plan, with the intent to introduce meaningful advances in electrode technology for a variety of neurological applications.\n\"Our independent registered public accounting firm has completed its audit procedures and we have filed our Annual Report on Form 10-K for the fiscal year ended September 30, 2022. Following are our financial results.\"\nFourth Quarter and Full Year Fiscal 2022 Financial Results\nProduct revenue was $69,000 in the fourth quarter of fiscal 2022 and $171,000 for the full fiscal year, compared to product revenue of $48,000 in the fourth quarter and $178,000 for the full year of fiscal 2021. Collaboration revenue was $1,942,000 in the fourth quarter of fiscal 2022 and $1,949,000 for the full fiscal year, compared to collaboration revenue of $5,000 in the fourth quarter and $65,000 for the full year of fiscal 2021. Collaboration revenue was derived from the Zimmer Development Agreement and represents the portion of the exclusivity and milestone fee payments eligible for revenue recognition during the respective periods.\nTotal operating expenses in the fourth quarter of fiscal 2022 were $3.3 million, compared with $2.6 million in the same period of the prior year. R&D expense in the fourth quarter of fiscal 2022 was $1.4 million compared with $1.0 million in the same period of fiscal 2021. SG&A expense in the fourth quarter of fiscal 2022 was $1.9 million compared with $1.6 million in the prior year period.\nTotal operating expenses for the full fiscal year 2022 were $11.9 million, compared with $10.2 million in the prior fiscal year. R&D expense for the full fiscal year 2022 was $4.9 million compared with $3.9 million in fiscal 2021. SG&A expense for the full fiscal year 2022 was $7.0 mill...