Profound Medical Corp

Profound Medical Corp. develops, manufactures and markets therapeutic platforms that combine real-time magnetic resonance imaging with directional and focused ultrasound technology for incision-free ablation of diseased tissue. The firm's platforms offer clinicians and patients incision-free alternatives to current standards of care, which could include traditional surgery or radiation therapy. Its products include TULSA-PRO and Sonalleve. The company was founded in 2008 and is headquartered in Mississauga, Canada.

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Profound Medical Corp reports revenue growth and eyes expansion opportunities

Profound Medical Corp's Q4 2022 performance reflects revenue growth driven by recurring revenue and progress in key trials and applications.
While facing financial challenges and capacity constraints, the company's strengths lie in the growing adoption of TULSA-PRO and AI software innovations.
Opportunities for growth include pending trial results, AI software value proposition, and expansion plans in key states, positioning the company for future success.

Profound Medical Corp reports revenue growth and expansion opportunities

Profound Medical Corp shows promising revenue growth and recurring revenue increase in Q1 2023, driven by the success of TulsaPro and Sonalleve platforms. While facing challenges in managing expenses and reducing backlog, the company is focused on expanding installations and preparing for reimbursement to drive future growth.

Profound Medical Corp reports revenue growth amidst widened net loss

Profound Medical Corp reported strong revenue growth in Q2 2023, driven by their innovative treatment technologies.
While facing challenges with a widened net loss, the company's focus on operational efficiency and market expansion presents growth opportunities.
Future prospects include expanding the install base, improving margins, and leveraging AI technology to drive profitability and market reach.

Profound Medical Corp reports revenue growth amidst profitability challenges

Profound Medical Corp's Q3 2023 performance showed revenue growth and strong cash reserves, but challenges persist in managing expenses and achieving profitability.
The company's strengths include recurring revenue growth, strategic partnerships, and innovative developments in AI applications for medical procedures.
Addressing operational challenges and seizing opportunities in market expansion and technology advancements will be crucial for future success.

Profound Medical Corp reports robust revenue growth and strategic focus

Profound Medical Corp's Q4 2023 performance showed strong revenue growth and strategic focus on TULSA's market adoption and innovation.
While facing challenges with patient reimbursement and payment models, the company aims to capitalize on opportunities for expansion and increased utilization.
By emphasizing customer retention, technology advancement, and market awareness, Profound Medical Corp positions itself for sustained growth and success in the prostate cancer treatment market.

Profound Medical Corp reports Q1 growth, eyes TULSA technology opportunities

Profound Medical Corp's Q1 2024 performance reflects a mix of revenue growth and operational improvements.
The company's focus on innovative TULSA technology and strategic collaborations positions it for future success.
While facing financial challenges and high operating expenses, Profound's growth outlook remains positive.
Navigating reimbursement rates and optimizing revenue streams are key priorities for sustainable growth.

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Profound Medical Corp. engages in developing, manufacturing, and marketing of therapeutic platforms that combine real-time magnetic resonance imaging with directional and focused ultrasound technology for incision-free ablation of diseased tissue. Its platforms offer clinicians and patients incision-free alternatives to current standards of care, which could include traditional surgery or radiation therapy. Its products include TULSA-PRO and Sonalleve. The company was founded in 2008 and is headquartered in Mississauga, Canada.

TORONTO, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) (“Profound” or the “Company”), a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue, will announce its fourth quarter and full year 2023 financial results after market close on Thursday, March 7, 2024.

Profound Medical to Release Fourth Quarter and Full Year 2023 Financial Results on March 7 – Conference Call to Follow

Profound Medical (PROF) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Profound Medical (PROF) Soars 9.4%: Is Further Upside Left in the Stock?

The mean of analysts' price targets for Profound Medical (PROF) points to a 66.1% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

How Much Upside is Left in Profound Medical (PROF)? Wall Street Analysts Think 66.06%

TORONTO, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Profound Medical Corp. (TSX:PRN; NASDAQ:PROF) ("Profound" or the "Company") is pleased to announce that the Company has entered into subscription agreements, dated as of January 16, 2024, with certain existing Canadian institutional investors, in connection with a non-brokered private placement (the "Private Placement") for aggregate gross proceeds of approximately US$2,937,502.

Profound Medical Announces Non-Brokered Private Placement

TORONTO, Jan. 03, 2024 (GLOBE NEWSWIRE) -- Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) (“Profound” or the “Company”), a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue, today announced preliminary unaudited revenues for the fourth quarter and full year 2023, and provided an update on the progress it is making with the commercialization of TULSA-PRO® in the United States. Profound is providing this information due to the significant lag time between planned investment community meetings to be held in connection with, among other investor events, the 42nd Annual J.P. Morgan Healthcare Conference in San Francisco, and its expected reporting of final 2023 results in March 2024.

Profound Medical Announces Preliminary Unaudited Fourth Quarter and Full Year 2023 Revenues

TORONTO, Dec. 27, 2023 (GLOBE NEWSWIRE) -- Profound Medical Corp. (TSX:PRN; NASDAQ:PROF) (“Profound” or the “Company”) today announced the pricing of its previously announced underwritten public offering (the “Offering”) of 2,666,667 common shares (the “Common Shares”) at a price to the public of US$7.50 per Common Share, led by healthcare focused institutional investors. Gross proceeds to the Company from the Offering are expected to be approximately US$20,000,000, prior to deducting underwriting discounts and commissions and other expenses related to the Offering, assuming no exercise of the underwriter's over-allotment option.

Profound Medical Announces Pricing of US$20 Million Public Offering of Common Shares

TORONTO, Dec. 27, 2023 (GLOBE NEWSWIRE) -- Profound Medical Corp. (TSX:PRN; NASDAQ:PROF) (“Profound” or the “Company”) is pleased to announce the commencement of an underwritten public offering in the United States of common shares (the “Common Shares”) in the capital of the Company (the “Offering”). The Company intends to file a preliminary prospectus supplement (the “Preliminary Supplement”) to its short form base shelf prospectus dated March 23, 2022 (the “Base Shelf Prospectus”) in the United States and Canada relating to the proposed Offering. The Company intends that the Offering will be priced in the context of the market, with such price and the total size of the Offering to be determined at the time of entering into an underwriting agreement with respect thereto. The Company expects to grant the underwriter for the Offering an over-allotment option to purchase up to an additional 15% of the Common Shares to be sold pursuant to the Offering on the same terms and conditions, and that the over-allotment option will be exercisable for a period of 30 days after closing. All of the securities in the offering will be sold by the Company.

Profound Medical Announces Proposed Public Offering of Common Shares

TORONTO, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) (“Profound” or the “Company”), a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue, today announced that management will present an update on the Company's business at the Stifel 2023 Healthcare Conference on Wednesday, November 15, 2023 at 8:35 a.m. Eastern Time in NYC.

Profound Medical to Participate in the Stifel 2023 Healthcare Conference

Profound Medical Corp. (NASDAQ:PROF ) Q3 2023 Earnings Conference Call November 2, 2023 4:30 PM ET Company Participants Stephen Kilmer - IR Arun Menawat - Chairman and CEO Rashed Dewan - CFO Conference Call Participants Rahul Sarugaser - Raymond James Benjamin Haynor - Alliance Global Partners Nelson Cox - Lake Street Capital Markets Scott McAuley - Paradigm Capital Operator Good day and thank you for standing by. Welcome to the Profound Medical Third Quarter 2023 Financial Results Conference Call.

Profound Medical Corp. (PROF) Q3 2023 Earnings Call Transcript

TORONTO, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) (“Profound” or the “Company”), a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue, announced today that, pursuant to the 2024 Final Rule published yesterday by the U.S. Centers for Medicare and Medicaid Services (“CMS”), use of HCPCS C code, C9734, previously established for the Hospital Outpatient Prospective Payment System (OPPS), has been extended for use in the Ambulatory Surgical Center (“ASC”) setting, and that MRI-Monitored Transurethral Ultrasound Ablation (“TULSA”) of prostate tissue, performed using Profound's TULSA-PRO® system, has been assigned device-intensive status. The ASC extension will go into effect on January 1, 2024.

Profound Medical Announces CMS Extension of Temporary ‘Code' for TULSA to ASC Setting

TORONTO, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) (“Profound” or the “Company”), a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue, today reported financial results for the third quarter ended September 30, 2023. Unless specified otherwise, all amounts in this press release are expressed in U.S. dollars and are presented in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board applicable to the preparation of interim condensed consolidated financial statements, including International Accounting Standards 34, Interim Financial Reporting.

Profound Medical Announces Third Quarter 2023 Financial Results

TORONTO, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) (“Profound” or the “Company”), a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue, will announce its third quarter 2023 financial results after market close on Thursday, November 2, 2023.

Profound Medical to Release Third Quarter 2023 Financial Results on November 2 – Conference Call to Follow

TORONTO, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) (“Profound” or the “Company”), a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue, announced today additional details regarding its Analyst & Investor Day event scheduled for Friday, October 13, 2023. The agenda will commence at 1:00 p.m. and is scheduled to conclude at approximately 3:30 p.m. Eastern Time.

Profound Medical 2023 Virtual Analyst & Investor Day Agenda

The first of the TULSA AI modules, Thermal Boost enables predictable, customized ablation at the prostate capsule The first of the TULSA AI modules, Thermal Boost enables predictable, customized ablation at the prostate capsule

Profound Medical Receives U.S. FDA 510(k) Clearance for TULSA-PRO® Thermal Boost

TORONTO, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) (“Profound” or the “Company”), a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue, today announced that management will present an update on the Company's business at the 2023 Cantor Global Healthcare Conference on Tuesday, September 26, 2023 at 4:55 p.m. Eastern Time in NYC.

Profound Medical to Participate in the 2023 Cantor Global Healthcare Conference

Strength Seen in Profound Medical (PROF): Can Its 19.5% Jump Turn into More Strength?

TORONTO, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Profound Medical Corp. (TSX: PRN; NASDAQ: PROF) (“Profound” or the “Company”) announces that it has established an at-the-market equity program (the “ATM Program”) that allows the Company, through certain securities dealers acting as agents (together, the “Agents“), to issue and sell from time to time up to US$30,000,000 of common shares in the capital of the Company (the “Common Shares”).

Profound Medical Announces At-the-Market Offering of up to US$30,000,000

Profound Medical Corp. (NASDAQ:PROF ) Q2 2023 Earnings Conference Call August 9, 2023 4:30 PM ET Company Participants Stephen Kilmer - IR Arun Menawat - CEO Rashed Dewan - CFO Conference Call Participants Rahul Sarugaser - Raymond James Nelson Cox - Lake Street Capital Markets Ben Haynor - Alliance Global Partners Joshua Jennings - TD Cowen Operator Good day and thank you for standing by. Welcome to the Profound Medical Second Quarter 2023 Financial Results Conference Call.

Profound Medical Corp. (PROF) Q2 2023 Earnings Call Transcript

TORONTO, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) (“Profound” or the “Company”), a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue, will announce its second quarter 2023 financial results after market close on Wednesday, August 9, 2023.

Profound Medical to Release Second Quarter 2023 Financial Results on August 9 – Conference Call to Follow

Profound Medical Corp's TULSA-PRO system has the potential to disrupt the surgical treatment of prostate disease. The company is delivering solid growth in recurring and capital revenues. Despite high market multiples, the company's forecasted growth rates and increasing asset value support a bullish view.

Profound Medical: TULSA-PRO Now Selling, Recurring Revenues Up 43%

TORONTO, June 02, 2023 (GLOBE NEWSWIRE) -- Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) (“Profound” or the “Company”), a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue, announced today that, with sponsorship and support from multiple physician specialty societies, the American Medical Association (“AMA”) has established three new Current Procedural Terminology (“CPT®') Category 1 codes for MRI-Monitored Transurethral Ultrasound Ablation (“TULSA”) of prostate tissue, performed using Profound's TULSA-PRO® system.

Profound Medical Announces New CPT® Category 1 Codes from the AMA for TULSA to Treat Prostate Diseases

TORONTO, May 30, 2023 (GLOBE NEWSWIRE) -- Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) (“Profound” or the “Company”), a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue, announces the following investor events in June:

Profound Medical Announces Upcoming Investor Events

Profound Medical (PROF) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

What Makes Profound Medical (PROF) a New Buy Stock

TORONTO, May 18, 2023 (GLOBE NEWSWIRE) -- Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) (“Profound” or the “Company”), a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue, announced that management will participate in A.G.P.'s Virtual Healthcare Conference on Wednesday, May 24, 2023.

Profound Medical to Participate in A.G.P.'s Virtual Healthcare Conference

TORONTO, May 17, 2023 (GLOBE NEWSWIRE) -- Profound Medical Corp. (TSX: PRN; NASDAQ: PROF) (“Profound” or the “Company”) is pleased to announce the voting results from its Annual and Special Meeting of Shareholders that was held today (the “Meeting”). A total of 13,437,920 common shares, representing 63.64% of the common shares outstanding, were represented in person and by proxy at the Meeting.

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