Summary by Moomoo AI
HeartSciences reported financial results for Q2 FY2025 ended October 31, 2024. The company made significant progress on its MyoVista Insights cloud-native platform, with Phase 1 completion expected by year-end. Discussions are underway for early deployment in test environments in H1 2025. The platform aims to modernize ECG reporting and management systems.The company's MyoVista wavECG device is on track for FDA submission around the end of Q1 2025. HeartSciences is developing AI-ECG algorithms, including a low ejection fraction algorithm licensed from Mount Sinai. The CMS 2025 OPPS final rule includes reimbursement for HeartSciences' AI-ECG algorithms, effective January 2025.As of October 31, 2024, HeartSciences reported cash and cash equivalents of $4.1 million and shareholders' equity of $4.0 million. The company had no revenues during Q2 FY2025. HeartSciences aims to transform ECG technology and expand its clinical utility across various healthcare settings.
