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$VTAK Catheter Precision, Inc. Reports Third Quarter Results of Operations and Filing of Third Quarter 10-Q

https://www.accesswire.com/819336/catheter-precision-inc-reports-third-quarter-results-of-operations-and-filing-of-third-quarter-10-q

FORT MILL, SC / ACCESSWIRE / December 22, 2023 / Catheter Precision, Inc. (NYSE American:VTAK) an innovative US-based medical device Company dedicated to improving the lives of patients with cardiac arrhythmias, announced corporate highlights of the third quarter of 2023.

Highlights of the third quarter include the following:

Received approval for first purchase in France. VIVO is now active in six European countries.
Completed enrollment of Phase I LockeT study in excess of 100 patients.
Received Institutional Review Board (IRB) approval for Phase II LockeT study and began enrolling patients. This study is a one-to-one randomized study comparing outcomes of standard of care to LockeT.
Finalized new build processes for VIVO disposable component to reduce manufacturing costs.
Initiated design changes to LockeT based on early feedback.
Total assets at September 30, 2023, were $32.9 million.
Total cash on hand at September 30, 2023 was $5.6 million.
Total revenues for the nine months ended September 30, 2023 were $314 thousand.
David Jenkins, acting CEO, commented: "We are pleased to have the Q3 financial filings completed and have a lot of momentum as we move into the fourth quarter. Our sales and clinical team have successfully introduced VIVO and LockeT to a number of new hospital centers and the products have been well received. Over the next several months we expect hospital approval to begin additional product evaluations and subsequent purchase orders. Catheter Precision's VIVO System continues to support the electrophysiologist and hospital in growing their ventricular ablation programs, which we believe will rival the atrial fibrillation market in the future. LockeT offers a more affordable and easier to use option for wound closure and the first publication demonstrating these benefits is underway and will be available soon."