|Over a week ago|
Profound Medical retires bank debt ahead of schedule » 16:3202/0402/04/20
Profound Medical Corp.…
Profound Medical Corp. announced that it has retired its $12.5M in principal amount loan with Canadian Imperial Bank of Commerce, maturing on July 29, 2022.
|Over a month ago|
Profound Medical upgraded to Strong Buy from Outperform at Raymond James » 13:1801/2701/27/20
Raymond James analyst…
Raymond James analyst Rahul Sarugaser upgraded Profound Medical to Strong Buy from Outperform with a C$45 price target.
Profound Medical Corporation trading resumes 09:5001/2201/22/20
Profound Medical 2.95M share Spot Secondary priced at $11.65 » 09:0401/2201/22/20
The deal size was…
The deal size was increased to 2.95M shares of common stock from 2.5M shares of common stock. Cowen acted as lead book running manager for the offering.
Profound Medical Corporation trading halted, news pending 08:4901/2201/22/20
Profound Medical files to sell common stock, no amount given » 16:0701/2101/21/20
Cowen is acting as the…
Cowen is acting as the sole book-running manager for the offering and Raymond James Ltd. is acting as the co-manager.
Profound Medical to begin patient recruitment for TULSA-PRO trials in 1H20 » 07:5001/1001/10/20
In November 2019,…
In November 2019, Profound submitted its application for a Healthcare Common Procedure Coding System C-Code from the Centers for Medicare & Medicaid Services for the TULSA-PRO procedure. A C-Code is a unique temporary product code established by CMS for the Hospital Outpatient Prospective Payment System to promote the adoption of new medical technology that otherwise had no codes to facilitate payment. C-Codes are used on Medicare OPPS claims, but may also be recognized on claims from other providers or by other payment systems. "We are accelerating our reimbursement strategy for TULSA-PRO by pursuing both temporary and permanent CMS codes," said CEO Arun Menawat. "If and when Profound receives a C-Code for TULSA-PRO, it would provide for a 3-year period of coding and billing methodology for facility costs, where patients may only be required to personally cover the related physician fees. As for the longer term, we expect patient recruitment to begin in the first half of 2020 for planned additional trials designed to expand the body of clinical publications and enable TULSA-PRO to qualify for a specific CPT code."
Profound Medical sees FY19 evenues approx. $5.4M vs. $2.6M last year » 07:4801/1001/10/20
"The continuing roll-out of Sonalleve in China, combined with the added traction TULSA-PRO has been getting in international markets since the positive TACT clinical data was announced in Q2-2019, led to this significant increase in quarterly revenues," said Arun Menawat, Profound's CEO. "While our sales performance in the fourth quarter was a clear positive, it should be noted this was offset by the additional cash flow utilization in the period associated with becoming a Nasdaq listed company. Moving into 2020, our main focus is on executing the commercial launch of TULSA-PRO in the United States, building on the momentum of the early activities and success reported below."
Profound Medical sees Q4 revenues approx. $2.7M, up 59% year-over-year 07:4701/1001/10/20
Profound Medical, RadNet sign U.S. multi-center pact for TULSA-PRO » 06:0501/1001/10/20
Profound Medical (PROF)…
Profound Medical (PROF) announced the signing of its first-ever U.S. multi-site imaging center agreement for TULSA-PRO with RadNet (RDNT). TULSA-PRO is a transurethral prostate tissue ablation system that combines real-time MRI with robotically-driven directional thermal ultrasound and closed-loop temperature feedback control software to deliver predictable physician prescribed ablation of whole-gland or partial prostate tissue. Pursuant to the agreement, Profound will install TULSA-PRO systems at three RadNet imaging centers in the greater Los Angeles area, with one such installation anticipated in each of Q1-, Q2- and Q3-2020. Profound will rent the systems to RadNet on a per-use basis, in addition to selling it per-use consumables. Based upon the success of these installations, the two companies hope to expand their partnership in the future to include additional RadNet centers in other U.S. markets.