HeartSciences Inc. today reported its financial results for the second quarter of fiscal year 2025, which ended on October 31, 2024. The company recorded no revenues during this quarter, reflecting its ongoing development stage. This financial outcome underscores the company's current focus on research, development, and regulatory processes rather than commercial sales.
As of October 31, 2024, HeartSciences held approximately $4.1 million in cash and cash equivalents. The company's shareholders’ equity stood at approximately $4.0 million at the close of the quarter. These figures indicate the company's financial position as it continues to invest in its AI-ECG technologies.
Operationally, HeartSciences reported progress on its MyoVista Insights cloud-native platform, with Phase 1 expected to be complete by the end of calendar year 2024. The MyoVista wav ECG device is also approaching its FDA submission. These developments are critical steps towards bringing the company's AI-ECG solutions to market.
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