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MENLO PARK, Calif. - Cyngn Inc. (NASDAQ:CYN), a developer of autonomous vehicle (AV) technology with a current market capitalization of $8.34 million, announced the issuance of its 22nd U.S. patent, titled "System and Methods of Off-Board Centric Autonomous Driving Computation." According to InvestingPro analysis, the company appears undervalued at its current trading price of $4.76. This latest patent outlines a cloud-based approach for operating autonomous vehicles, which could lead to lighter and more cost-effective AVs by reducing the need for heavy onboard computing hardware.
The patent, granted on March 11, 2025, details a method where vehicles transmit sensor data to cloud servers for processing tasks such as environment mapping, decision-making, and route planning. The servers then send driving commands back to the vehicles. This system design prioritizes safety-critical and time-sensitive functions within the vehicle, while offloading other computing tasks to the cloud.
Cyngn’s CEO, Lior Tal, highlighted the company’s commitment to innovation in the AV space, stating that the new patent reflects their dedication to developing practical solutions for material handling. The addition to their patent portfolio is part of a broader strategy to protect Cyngn’s intellectual property as they continue to advance autonomous technology.
The patent also includes fleet management functionality, which allows for the centralized coordination of multiple autonomous vehicles. This feature is particularly relevant for industrial organizations facing challenges such as labor shortages and the rising demand for eCommerce, which can be addressed by integrating autonomous systems into their operations. Despite reporting revenue of $0.37 million in the last twelve months, InvestingPro data shows the company maintains a healthy current ratio of 7.33, indicating strong short-term liquidity.
Cyngn’s DriveMod Kit and Enterprise Autonomy Suite, which include a range of AV fleet management, teleoperation, and analytics tools, are designed to enable the seamless adoption of self-driving technology without substantial upfront investment or the need to replace existing vehicle fleets.
The press release statement indicates that the granting of this patent strengthens Cyngn’s position in the AV industry and follows the recent announcement of their 21st patent. The company’s growing patent portfolio underscores its focus on modular and flexible autonomous vehicle systems that can integrate with multiple sensor configurations.
For more information about Cyngn’s patents and their applications in autonomous vehicle technology, interested parties can refer to the filings with the United States Patent and Trademark Office (USPTO). Wall Street analysts maintain a bullish outlook on Cyngn, with a price target of $12 per share. Discover more detailed financial analysis and exclusive insights with InvestingPro, including additional ProTips and comprehensive financial metrics to make informed investment decisions.
In other recent news, Cyngn Inc. has successfully regained compliance with Nasdaq’s minimum bid price requirement, ensuring its continued listing on the exchange. This development follows the company’s announcement of a 1-for-150 reverse stock split, effective February 18, 2025, aimed at raising its per-share market price to meet Nasdaq’s standards. The reverse stock split was approved by the Board of Directors and stockholders in a special meeting. Additionally, Cyngn has expanded its autonomous vehicle technology across four key industries, including manufacturing, logistics, consumer packaged goods, and defense, demonstrating its capacity to meet diverse industry demands. The company has secured a Letter of Intent from a major automotive supplier and begun a deployment with COATS Company in Tennessee. Cyngn’s CEO, Lior Tal, was awarded a $1 million bonus, reflecting the company’s recognition of his contributions. This bonus comprises a $300,000 contractual bonus and a $700,000 discretionary bonus. These recent developments highlight Cyngn’s efforts to enhance its technology and maintain its position in the market.
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