ENDRA Life Sciences Inc (NDRA) (Q1 2024) Earnings Call Transcript Highlights: Strategic ...

GuruFocus Research
4 min read

In This Article:

  • Operating Expenses: Decreased to $2.8 million from $2.9 million in Q1 2023.

  • Research and Development Expenses: Decreased by approximately $350,000 year-over-year.

  • Sales and Marketing Expenses: Increased by approximately $57,000, mainly due to higher consulting fees.

  • General and Administrative Expenses: Increased by approximately $134,000, mainly due to higher professional fees.

  • Net Loss: $2.8 million or $0.26 per share in Q1 2024, compared to $2.9 million or $0.93 per share in Q1 2023.

  • Cash and Cash Equivalents: $1.1 million as of March 31, 2024.

  • Equity Financing: Raised $420,000 in gross proceeds from the sale of common stock and $77,000 from the exercise of warrants in Q1 2024.

Release Date: May 14, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

  • ENDRA Life Sciences Inc (NASDAQ:NDRA) has successfully activated new clinical research sites in target markets, enhancing the body of clinical evidence for their technology.

  • The company has installed its first payer system in the United Kingdom at King's College Hospital, marking a significant milestone in the U.K. market.

  • ENDRA Life Sciences Inc (NASDAQ:NDRA) is closely working with the FDA to align on clinical requirements for their TS system's de novo application, with a pre-submission meeting scheduled this quarter.

  • The company is leveraging accelerating market developments in liver disease detection and treatment to strengthen its position.

  • ENDRA Life Sciences Inc (NASDAQ:NDRA) is expanding its intellectual property portfolio, securing eight new patents this year, bringing the total to 80 issued patents worldwide.

Negative Points

  • The company reported a net loss of $2.8 million for the first quarter of 2024, indicating ongoing financial challenges.

  • Research and development expenses have decreased, which might impact the pace of innovation and development of new technologies.

  • General and administrative expenses have increased, mainly due to higher professional fees, adding to the financial burden.

  • The reliance on FDA approval for significant market expansions, such as the distribution agreement in Vietnam, poses a risk if regulatory approvals are delayed or not received.

  • ENDRA Life Sciences Inc (NASDAQ:NDRA)'s cash and cash equivalents were relatively low at $1.1 million as of March 31, 2024, which may necessitate further fundraising to sustain operations.

Q & A Highlights

Q: Can you discuss the significance of the new clinical sites in Europe and the U.S. for ENDRA Life Sciences? A: Francois Michelon, CEO, highlighted the importance of activating new clinical research sites in target markets to build a robust body of clinical evidence. This is crucial for demonstrating the clinical and economic value of ENDRA's technology to potential users in these markets.

Recommended Stories