Summary by Moomoo AI
HeartSciences reported fiscal year 2024 results with $5.8M cash and $7.3M shareholders' equity as of April 30, 2024. The company raised $10.3M through stock sales and converted $1.1M debt to equity. During the year, they expanded their business to include both cloud-based and device-based AI-ECG solutions.The company's MyoVista Insights cloud platform is progressing with a working beta version, targeting FDA submission in mid-2025. The platform will be ECG device agnostic and host third-party algorithms. Their first cloud-based algorithm for low ejection fraction, licensed from Mount Sinai, is undergoing preparation for FDA validation study.For the MyoVista wavECG device, FDA 510(k) submission is expected in Q1 2025. The company has resolved technical issues and is finalizing system testing. The device-based AI-ECG algorithm update is near completion, with final validation expected by end of 2024. HeartSciences also strengthened its IP portfolio with new patents and expanded clinical validation through peer-reviewed publications.
