HeartSciences Inc. today announced its financial results for the third quarter of fiscal year 2025, which concluded on January 31, 2025. The company reported no revenues during this period, consistent with its focus on product development and regulatory clearances. This indicates that HeartSciences remains in a pre-commercialization phase, with significant investments directed towards its AI-ECG technologies.
As of January 31, 2025, HeartSciences' cash and cash equivalents were approximately $2.6 million, a decrease from the previous quarter. Shareholders’ equity was approximately $1.8 million, reflecting the continued operational expenses without corresponding revenue generation. These financial metrics highlight the company's reliance on external funding to support its ongoing initiatives.
Operationally, HeartSciences made material progress towards FDA submissions for its products. Clinical validation for the MyoVista wav ECG device is expected within weeks, with FDA submission planned for the first half of 2025. The company also successfully completed Phase 1 of its MyoVista Insights cloud-native platform and undertook pre-validation of its low ejection fraction algorithm with Rutgers Robert Wood Johnson Hospital System.
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