Business
SANUWAVE Health Reports First Quarter 2020 Financial Results
SUWANEE, GA, May 18, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ‒ SANUWAVE Health, Inc. (OTCQB: SNWV) reported financial results for the quarter ended March
About this update from Sanuwave Health, Inc.
[{"type":"text","content":"SUWANEE, GA, May 18, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ‒ SANUWAVE Health, Inc. (OTCQB: SNWV) reported financial results for the quarter ended March 31, 2020 with the SEC on Friday, May 15, 2020. The Company will also host a conference call today, May 18, 2020, at 10:00 a.m. Eastern Time. \n Highlights from the quarter: Launched dermaPACE® System solutions to treat patients in a home setting. Initial 10 sites successfully targeted for implementation. Placements have begun in “Open States” in earnest as of last week. Backlog for placements continues to grow for when open activity resumes, everywhere. Entered into an agreement to place dermaPACE® Systems with Mobile Health Systems (MHS), a business recently launched by former SANUWAVE President Shri Parikh. Implemented roughly $200,000 in monthly expense savings during May. PPP expected to be received by the end of May/early June. Entered into an exclusive worldwide license agreement for NanoVibronix’s surface acoustic wave ultrasound technology, in the wound care market. Successfully filed a patent for use of shockwaves to treat respiratory ailments including viral infections such as COVID-19, Chronic Obstructive Pulmonary Disease (COPD), Cystic Fibrosis, Idiopathic Pulmonary Fibrosis (IPF), Pneumonia, and Bronchitis. Submitted a grant proposal to the NIH (National Institute of Health) for Phase 1 funding to explore shockwave pre-clinical research in the area of respiratory ailments, specifically on the treatment of COVID-19 and its debilitating health effects. Gave a grant proposal pitch to the NSF (National Science Foundation) for the use of shockwaves in the COVID-19 treatment. SANUWAVE was incited to submit a full-proposal on the subject for Phase 1 funding, which will be done at the beginning of June. Will host conference call Thursday May 28 to review new strategic initiatives “The pandemic is impacting all medical businesses, including SANUWAVE. We are adapting quickly as a company by listening to and meeting our customer’s needs. The global wound market does not stop just because a pandemic is in place, but how and where those patients can be treated needs to adjust. The bulk of diabetic foot ulcer (DFU) patients will still be treated and are currently being treated in the wound care centers, but many patients will need to be treated with a new paradigm, which derm...