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10-Q/A: Quarterly report (Amendment)

SEC ·  Nov 21, 2024 22:20

Summary by Moomoo AI

ENDRA Life Sciences reported financial results for Q3 2024, with net loss decreasing to $2.35 million compared to $3.10 million in Q3 2023. Research and development expenses declined 51% to $794,444, while sales and marketing expenses decreased 66% to $83,157, reflecting the company's shift from product development to commercialization efforts.The company ended the quarter with $4.75 million in cash and working capital of $4.15 million. Operating expenses were significantly reduced, with general and administrative expenses dropping 49% to $631,413. ENDRA continues to advance its TAEUS technology platform, with plans to complete necessary clinical studies by Q4 2024 or Q1 2025 for a new FDA de novo submission.Management is pursuing additional financing options to support commercialization plans, though facing certain restrictions on equity issuance until December 2024. The company appointed Alexander Tokman as acting CEO and Chairman in August 2024 and restructured its European sales operations to better align with near-term prospects. ENDRA expects to submit a new de novo request to the FDA in the first half of 2025.
ENDRA Life Sciences reported financial results for Q3 2024, with net loss decreasing to $2.35 million compared to $3.10 million in Q3 2023. Research and development expenses declined 51% to $794,444, while sales and marketing expenses decreased 66% to $83,157, reflecting the company's shift from product development to commercialization efforts.The company ended the quarter with $4.75 million in cash and working capital of $4.15 million. Operating expenses were significantly reduced, with general and administrative expenses dropping 49% to $631,413. ENDRA continues to advance its TAEUS technology platform, with plans to complete necessary clinical studies by Q4 2024 or Q1 2025 for a new FDA de novo submission.Management is pursuing additional financing options to support commercialization plans, though facing certain restrictions on equity issuance until December 2024. The company appointed Alexander Tokman as acting CEO and Chairman in August 2024 and restructured its European sales operations to better align with near-term prospects. ENDRA expects to submit a new de novo request to the FDA in the first half of 2025.
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