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BROOMFIELD, Colo. - Aclarion, Inc. (NASDAQ: ACON, ACONW), a healthcare technology company specializing in chronic low back pain diagnosis, with a current market capitalization of $7.11 million, announced today its plans to increase the number of Nociscan centers in New York and New Jersey. According to InvestingPro data, the company’s stock has shown significant momentum with a 166% return over the last week, though it maintains high price volatility. This expansion leverages the existing partnership with RadNet and aims to meet the growing demand for the company’s noninvasive diagnostic tool, Nociscan.
Nociscan is designed to help physicians identify the source of chronic low back pain by quantifying chemical biomarkers associated with disc pain using Magnetic Resonance Spectroscopy (MRS) data. The tool has shown a 97% surgical success rate when all identified pain-positive discs are treated.
The expansion strategy includes onboarding additional RadNet sites, which will enhance patient access to Nociscan scans. Lenox Hill Radiology (LHR) in New York and New Jersey Imaging Network (NJIN) are integral to this growth, with LHR Park Avenue and NJIN-Union already offering Nociscan to support local and out-of-market physicians.
Brent Ness, CEO of Aclarion, emphasized the importance of expanding scanner access to establish Nociscan as the standard of care for patients with chronic low back pain. The collaboration with RadNet, a significant national imaging provider, is expected to facilitate the growth of scan volume in response to physician demand.
Chronic low back pain is a significant global health issue, affecting approximately 266 million people worldwide. Aclarion’s Nociscan represents the first evidence-supported Software as a Service (SaaS) platform to noninvasively indicate if a disc may be a source of pain, offering new insights into patient treatment strategies. Despite the vast market opportunity, InvestingPro analysis reveals the company faces financial challenges with a -69.45% gross profit margin and a revenue decline of 41.41% in the last twelve months. InvestingPro subscribers have access to 15 additional key insights about Aclarion’s financial health and market position.
This press release contains forward-looking statements regarding the future results and performance of Aclarion, Inc. These statements are based on current management plans and expectations and are subject to risks and uncertainties that could affect the company’s operations and financial condition. The company maintains a healthy liquidity position with a current ratio of 2.8, though its overall financial health score of 1.44 on InvestingPro indicates potential challenges ahead. The information is based on a press release statement from Aclarion, Inc.
In other recent news, Aclarion, Inc. has reported several significant developments. The company announced the approval of key proposals by its shareholders, including the issuance of additional shares and an amendment to its charter. This move grants the board discretionary authority to increase authorized shares from 200 million to 300 million. Additionally, Aclarion has secured a patent for using magnetic resonance spectroscopy to measure propionic acid, a biomarker for infection and pain, expanding its proprietary rights. The company has also raised nearly $20 million to support the pivotal CLARITY trial, aimed at validating the Nociscan platform for improving surgical outcomes in chronic low back pain patients.
Furthermore, Aclarion announced a reverse stock split at a ratio of 1-for-335, effectively reducing the number of outstanding shares. This financial maneuver, combined with a recent public offering, has brought the company’s gross proceeds to approximately $14.55 million. Aclarion’s Nociscan platform, which utilizes MR Spectroscopy and augmented intelligence, was highlighted at the Selby Spine Conference for its innovative approach to diagnosing discogenic pain. These developments reflect Aclarion’s strategic efforts to enhance its technological capabilities and financial standing.
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