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BERKELEY, Calif. - Profusa, Inc. (NASDAQ:PFSA), a digital health company focused on continuous biochemical monitoring technology with a current market capitalization of $11.54 million, announced Tuesday it has made a second $1 million investment in digital treasury assets as part of its strategy to hedge against macroeconomic uncertainties.
The investment follows an earlier allocation to bitcoin and was funded through the second tranche of a $2 million investment from Ascent Partners Fund. The company described the move as part of a "low cost, capital efficient" bitcoin treasury strategy. According to InvestingPro data, Profusa’s current ratio of 0.0 indicates significant liquidity challenges, with short-term obligations exceeding liquid assets.
"We believe the continued execution of our digital asset strategy helps ensure that we are prudently managing our resources to continue to support both our commercial and development plans for our Lumee platform technology," said Ben Hwang, Ph.D., Profusa’s Chairman and CEO.
Profusa develops tissue-integrated sensors designed to continuously transmit medical-grade data. Its Lumee platform aims to provide users with personalized biochemical information for personal and medical applications.
The Berkeley-based company, which went public on the Nasdaq, stated that its treasury management approach is intended to maintain sufficient capital for its AI-driven digital health platform while positioning itself for future growth. With the stock down 97% year-to-date and showing an overall WEAK financial health score, InvestingPro subscribers can access 11 additional key insights about Profusa’s financial position and market performance.
The announcement reflects a growing trend among some public companies to allocate portions of their treasury to digital assets as an alternative store of value.
This information is based on a press release statement from the company.
In other recent news, Profusa, Inc. has made significant strides with several key developments. The company announced that shareholders have approved a $100 million equity line of credit with Ascent Partners Fund LLC, allowing Profusa to issue and sell shares of its common stock under certain conditions. Additionally, Profusa has amended its Securities Purchase Agreement and Senior Secured Convertible Promissory Note with Ascent Partners, restructuring the issuance of convertible promissory notes into four tranches, with the first tranche already closed. In terms of compliance, Profusa disclosed that it received notices from Nasdaq regarding non-compliance with listing standards, specifically relating to the minimum market value of listed securities. On the technology front, Professor Yann Gouëffic, a vascular surgeon, will adopt Profusa’s Lumee oxygen monitoring technology for clinical studies in France, potentially advancing its application in home monitoring for patients with critical limb-threatening ischemia. Moreover, Profusa has strengthened its leadership team by appointing Peter O’Rourke, former Acting U.S. Secretary of Veterans Affairs, as lead independent director on its Board of Directors. These developments highlight Profusa’s ongoing efforts to expand its financial resources, enhance its technological applications, and bolster its leadership capabilities.
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