Summary by Moomoo AI
Cardio Diagnostics Holdings, Inc., formed through a merger in October 2022, specializes in AI-driven DNA biomarker tests for cardiovascular diseases. Despite innovative products like Epi+Gen CHD™ and PrecisionCHD™, the company reported minimal revenue and a net loss of $8.4 million in 2023. As of September 30, 2024, it holds $3 million in cash.The company trades on Nasdaq under CDIO but received a notice of non-compliance with the $1 minimum bid price. Leadership includes CEO Meeshanthini Dogan and CFO Elisa Luqman. Cardio Diagnostics raised funds through various means, including a $5 million convertible debenture in March 2023 and a $1 million private placement in February 2024.Key risks involve limited operating history and the need for additional capital. The company focuses on commercializing its tests through telemedicine and healthcare providers.
