Summary by Moomoo AI
ENDRA Life Sciences reported financial results for Q3 2024, with net loss decreasing to $2.35 million compared to $3.10 million in Q3 2023. Research and development expenses declined 51% to $794,444, while sales and marketing expenses decreased 66% to $83,157, reflecting the company's transition from product development to commercialization focus.The company ended the quarter with $4.75 million in cash and working capital of $4.15 million. Management is pursuing additional financing options to support ongoing operations and commercialization plans, including potential sales of common stock through their at-the-market program. However, the company noted material concerns about its ability to continue as a going concern without securing adequate additional funding.ENDRA continues to advance its TAEUS technology platform, with plans to complete necessary clinical studies by Q4 2024 or Q1 2025 and submit a new de novo FDA request in H1 2025. The company has restructured its European sales operations and appointed Alexander Tokman as CEO and Chairman in August 2024 to lead its commercialization strategy.
