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FREMONT, Calif. - Tivic Health Systems , Inc. (NASDAQ:TIVC), a micro-cap healthcare technology company with a market capitalization of $3.45 million focused on developing therapeutic devices targeting the immune and autonomic nervous systems, has announced the filing of a new patent application with the U.S. Patent Office. According to InvestingPro data, the company maintains a strong liquidity position with more cash than debt on its balance sheet. The patent, numbered 63,492,402 and titled "Method and Apparatus for Electrical Stimulation of the Vagus Nerve," aims to strengthen claims and protections around the company’s non-invasive cervical vagus nerve stimulation (VNS) technology.
This filing comes as Tivic Health anticipates potential U.S. Food & Drug Administration approval and subsequent commercialization of its VNS device. According to Blake Gurfein, Chief Scientific Officer at Tivic Health, the patent is based on research showing that customizing stimulation parameters for individual users significantly enhances the effect on the autonomic nervous system. This personalized approach is expected to improve the efficacy of device therapies over other technologies that apply a uniform stimulation method to all patients.
Tivic Health’s first FDA-approved product, ClearUP™, addresses sinus pain and pressure and is currently available through online retailers and commercial distributors. The company’s broader strategy involves treating diseases caused by immune dysregulation and dysautonomia through bioelectronic and biologic medicines.
The press release also includes forward-looking statements about the development and commercialization of ncVNS treatments, potential regulatory approvals, and the company’s focus on developing ncVNS treatments for conditions such as epilepsy, post-traumatic stress disorder, and ischemic stroke. These statements are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those projected. InvestingPro analysis reveals that while the company maintains a healthy current ratio of 5.65, it is currently experiencing rapid cash burn - a crucial factor for investors to monitor. For comprehensive financial health analysis and 13 additional ProTips, consider subscribing to InvestingPro.
Investors are cautioned not to place undue reliance on these forward-looking statements, which reflect the company’s expectations as of the date of the press release. The information provided is based on a press release statement from Tivic Health Systems, Inc. and does not constitute an endorsement of the company’s claims.
In other recent news, Tivic Health Systems, Inc. shareholders have approved a reverse stock split proposal, granting the Board of Directors the authority to consolidate shares at a ratio between 1-for-2 and 1-for-30. This decision was made during a special meeting, with the aim of potentially increasing the market price of the company’s common stock to meet Nasdaq’s listing requirements. Tivic Health has been facing potential delisting from the Nasdaq Stock Market due to non-compliance with the minimum bid price requirement. The company was unable to meet the $1.00 per share minimum over a specified period and did not qualify for an additional remediation period. In response, Tivic Health has requested a hearing before a Nasdaq Hearings Panel to address the delisting notice, which temporarily halts any delisting actions. Additionally, Tivic Health has issued a shareholder letter, updating stakeholders on the company’s ongoing commitment to innovative healthcare solutions and its current operational status. The letter, while not detailing financial performance, emphasizes the company’s dedication to enhancing patient care through its products.
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