The following is a summary of the HeartBeam, Inc. (BEAT) Q3 2024 Earnings Call Transcript:

Financial Performance:

• HeartBeam reported a net loss for Q3 2024 of $5 million.

• Adjusted net cash used in operating activities was $3.3 million.

• Cash balance as of September 30, 2024, was $5.8 million.

Business Progress:

• HeartBeam is progressing with its FDA submission for its groundbreaking 12-lead ECG technology.

• The company has developed a vector-based 12-lead ECG that enhances cardiac care.

• Management changes have been made to strengthen the team for commercialization.

• HeartBeam anticipates foundational FDA clearance soon, which will lead to initial commercialization efforts.

Opportunities:

• HeartBeam's technology has the potential to disrupt markets with a total worth of over $100 billion annually in the U.S.

• The technology targets multiple large markets from symptom-driven diagnosis to monitoring and replacing traditional hospital ECGs.

Risks:

• The incremental advancements and FDA clearance of HeartBeam's technology involve significant regulatory challenges.

• Dependency on FDA's approval timelines and responses for commercialization.

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