Catheter Precision Inc., a U.S.-based medical device company focused on electrophysiology products, announced its financial results for the first quarter ending March 31, 2025. The company's sales revenues for the quarter increased by 74% to approximately $143 thousand, compared to $82 thousand in the same quarter of the previous year. The net loss for the three months ended March 31, 2025, was approximately $4.0 million, with about $1.2 million attributed to non-cash charges. The cash position of the company as of March 31, 2025, stood at $450 thousand. Subsequent to the end of the quarter, Catheter Precision announced a $1.5 million gross proceeds investment from institutional investors through a private placement of its securities. Significant business updates include the notice of allowance from the US Patent Office for the company's first U.S. patent for the LockeT device and the acquisition of PeriKard, LLC, which is developing a kit of tools for improved access to the pericardial space of the heart. Additionally, approximately 50 hospitals are currently evaluating the company's VIVO and LockeT devices, illustrating the efforts of the newly appointed sales team in building a strong pipeline. A Randomized Controlled Trial $(RCT)$ is also planned for VIVO to begin in Q3 2025, assessing its effectiveness in mapping procedures for ischemic VT patients. Furthermore, four abstracts were accepted for presentation at the annual Heart Rhythm Society Symposia in April 2025, demonstrating the company's commitment to advancing research in its field.
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