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EDEN PRAIRIE, Minn. - NeuroOne Medical Technologies Corporation (NASDAQ:NMTC), a medical technology company specializing in neurological disorders with a market capitalization of $27.16 million, has launched a public offering of its common stock, according to a statement released today. The company has demonstrated strong revenue growth of 104% over the last twelve months, though InvestingPro data indicates it’s currently burning through cash reserves. The offering is entirely composed of shares sold by NeuroOne, with an additional option for the underwriter to purchase up to 15% more shares within 45 days.
The completion and terms of this offering are subject to market conditions, and there is no certainty regarding the completion timeline or the offering’s final size. The sole book-running manager for the offering is Ladenburg Thalmann & Co. Inc.
This move follows the effectiveness of a shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) on August 16, 2024. The preliminary prospectus supplement and the accompanying prospectus will be available on the SEC’s website or through Ladenburg Thalmann & Co. Inc.
The company’s press release included forward-looking statements, cautioning that actual results may differ materially due to various risks and uncertainties. These statements are based on current expectations, and the company does not commit to updating them in the future.
This public offering is being made solely by means of a prospectus, including a prospectus supplement, which is part of the effective registration statement. NeuroOne’s announcement clarifies that this press release does not constitute an offer to sell or a solicitation of an offer to buy any securities. According to InvestingPro’s Fair Value analysis, the stock appears slightly undervalued at current levels, with comprehensive research reports available for deeper insight into the company’s financial health and growth prospects.
The information provided is based on a press release statement from NeuroOne Medical Technologies Corporation.
In other recent news, NeuroOne Medical Technologies Corporation reported a substantial increase in financial performance for the first quarter of fiscal year 2025. The company achieved record product sales of $3.3 million and total revenue of $6.3 million, marking a 235% increase compared to the same period last year. This financial turnaround included a net income of $1.8 million, reversing a previous net loss, and was bolstered by a $3 million license payment. NeuroOne has also expedited the submission timeline for its trigeminal nerve ablation system’s FDA application, now expected in May 2025. The company anticipates potential revenue from this system in late 2025, although it is not currently included in their revenue guidance. In terms of strategic partnerships, NeuroOne has expanded its collaboration with Zimmer Biomet, which now includes exclusive distribution rights for the OneRF® ablation system in the United States and certain other regions. Analysts from various firms have observed the company’s strong financial performance and strategic moves, reflecting positively on its growth prospects. Additionally, NeuroOne’s ongoing product development and FDA submission efforts are key areas of focus as the company looks to expand its market presence.
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