ENDRA Life Sciences (NASDAQ:NDRA) soared 26% and 45% in a week after the Thermo Acoustic Enhanced UltraSound (TAEUS)pioneer reported financial results from the quarter ended June 30, 2021, and offered business updates. In recent weeks the company has continued patient screening at Rocky Vista University College of Osteopathic Medicine.
Equally, the patient screening will commence at the University of Pittsburgh Medical Centre soon as the company completes the Pandemic-associated MRI procedures backlog. In addition, the company started in-person TAEUS system sales activities in Europe targeting prospective customers.
In Q2, the company’s operating expenses were $3.2 million, increasing from $2.9 million a year ago primarily because of increased TAEUS commercialization costs and continuing product development. As a result, the company reported a net loss of $3.2 million or $0.08 per share and ended the quarter with $14 million in cash and cash equivalents. Chief Commercial Officer Renaud Maloberti said that they are delighted with the progress made with Rocky Vista in scanning patients with the TAEUS system. Therefore, in the coming weeks, ENDRA is worth watching.
Market Reaction:
On Tuesday, NDRA stock soared 26% at $2.02 with more than 1.08 million shares, compared to its average volume of 416k shares. The stock has moved within a range of $1.6200 – 2.0700 after opening the trade at $1.64.
