Summary by Moomoo AI
On September 12, 2024, Heart Test Laboratories, Inc., also known as HeartSciences, reported its financial and operational results for the first quarter of fiscal year 2025, which ended on July 31, 2024. The company, which specializes in AI-powered medical technology for heart disease detection, highlighted the progress of its MyoVista wavECGTM device and MyoVista InsightsTM cloud platform. HeartSciences announced a cash and cash equivalents balance of $4.3 million and shareholder’s equity of $5.9 million. Post-quarter, the company secured $1.9 million in non-dilutive financing and extended a $500,000 loan note. The MyoVista Insights Platform is expected to be completed by the end of 2024, with FDA submission targeted for the second half of 2025. The FDA 510(k) submission for the MyoVista wavECGTM device is on track for early 2025. The company also showcased its technology at the United Nations General Assembly Digital Health Symposium and expanded its intellectual property portfolio. Despite these advancements, HeartSciences reported no revenues for Q1 FY2025. The complete financial results have been filed with the U.S. Securities and Exchange Commission.
