Stock News Spotlight: Profound Medical Corp. (NASDAQ:PROF)

admin

Profound Medical Corp. (NASDAQ:PROF) stock identified change of 125.00% away from 52-week low price and recently located move of -9.93% off 52-week high price. It has market worth of $133.34M. PROF stock has been recorded 20.56% away from 50 day moving average and 51.91% away from 200 day moving average. Moving closer, we can see that shares have been trading 10.03% off 20-day moving average.

On Jan. 10, 2020, Profound Medical Corp. (NASDAQ:PROF) a commercial-stage medical device company focused on customizable, incision-free therapies which combine real-time Magnetic Resonance Imaging (MRI), thermal ultrasound and closed-loop temperature feedback control for the radiation-free ablation of diseased tissue, released preliminary unaudited revenues for the fourth quarter and full year 2019, and provided an update on the early progress it is making with the commercialization of TULSA-PRO® in the United States. Profound is providing this information due to the significant lag time between planned investment community meetings to be held in connection with, among other investor events, the 38th Annual J.P. Morgan Healthcare Conference in San Francisco, and its expected reporting of final 2019 results in March 2020.

Preliminary Unaudited Fourth Quarter and Full Year 2019 Revenues

Profound anticipates total revenues for the fourth quarter of 2019 to be approximately $2.7 million, representing growth of 59% year-over-year and 296% sequentially over the previous quarter. For the full year 2019, the Company anticipates total revenues to be approximately $5.4 million, which compares to $2.6 million in 2018. These figures are preliminary and unaudited, and actual revenues may differ.

The continuing roll-out of Sonalleve® in China, combined with the added traction TULSA-PRO® has been getting in international markets since the positive TACT clinical data was announced in Q2-2019, led to this significant increase in quarterly revenues, said Arun Menawat, Profound’s CEO. While our sales performance in the fourth quarter was a clear positive, it should be noted this was offset by the additional cash flow utilization in the period associated with becoming a Nasdaq listed company. Moving into 2020, our main focus is on executing the commercial launch of TULSA-PRO® in the United States, building on the momentum of the early activities and success reported below. The Basic Materials sector company, Profound Medical Corp. noticed change of 13.64% to $11.25 along volume of 50216 shares in recent session compared to an average volume of 12.15K. The stock observed return of 9.22% in 5 days trading activity. The stock was at 19.68% over one month performance. PROF’s shares are at 66.54% for the quarter and driving a 194.19% return over the course of the past year and is now at 2.74% since this point in 2018. 

 The average volatility for the week at 5.06% and for month was at 5.31%. There are 11.85M shares outstanding and 9.00M shares are floated in market.  

Leave a Reply

Your email address will not be published. Required fields are marked *

Next Post

News to Track: Codexis (NASDAQ:CDXS)

Codexis (NASDAQ:CDXS) spotted trading -19.90% off 52-week high price. On the other end, the stock has been noted 42.07% away from the low price over the last 52-weeks. The stock changed 3.06% to recent value of $18.01. The stock transacted 539556 shares during most recent day however it has an […]