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BERKELEY - Profusa, Inc. (NASDAQ:PFSA), a digital health company focused on continuous biochemical monitoring technology, announced Tuesday two key leadership appointments following its business combination with NorthView Acquisition Corp. The micro-cap company, currently valued at $16.48 million, has seen its shares surge nearly 15% over the past week, according to InvestingPro data.
Peter O’Rourke, who served as Acting U.S. Secretary of Veterans Affairs during the Trump administration, has joined the company’s Board of Directors as lead independent director. While at the VA, O’Rourke oversaw 1,300 facilities serving more than 9 million veterans.
Additionally, Fred Knechtel has been appointed Chief Financial Officer. Knechtel previously held finance and operations roles at several major corporations including Northrop Grumman, Stanley Black & Decker, and DuPont. He was also a founder and CFO of NorthView Acquisition Corp.
"Profusa is at an inflection point as we prepare to bring our transformative biosensor platform to global markets," said Ben Hwang, CEO of Profusa, in a press release statement. The company faces significant challenges ahead, with InvestingPro analysis indicating a weak financial health score and current short-term obligations exceeding liquid assets.
Profusa develops tissue-integrated sensors designed to continuously transmit medical data. The Berkeley-based company completed its business combination with NorthView Acquisition Corp, resulting in its NASDAQ listing.
The company’s technology aims to provide continuous monitoring of individual biochemistry for both personal and medical applications.
In other recent news, Profusa, Inc. has outlined its growth strategy following its recent Nasdaq listing. The company is focusing on five strategic pillars, which include revenue growth and AI infrastructure development, as it begins generating initial revenue from research applications. Profusa has also announced a significant move in its treasury strategy by initiating a $100 million bitcoin investment plan through a Securities Purchase Agreement with Ascent Partners Fund LLC. This plan involves using the proceeds to purchase bitcoin while maintaining a minimum cash balance of $5 million. Additionally, Profusa has made an initial $1 million investment in bitcoin, partnering with BlockFills to execute its treasury management strategy. In another development, the company has signed a Letter of Intent with Dismeval, S.L. to distribute its Lumee Oxygen platform in Spain. This agreement is expected to expand Profusa’s reach in the European market. These recent developments underscore Profusa’s strategic initiatives and expansion efforts.
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