Southlake, TX, Oct. 14, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (Nasdaq: HSCS; HSCSW) ("HeartSciences" or the "Company"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, announced today that Company CEO Andrew Simpson has been invited to participate in the 2024 Maxim Healthcare Virtual Summit, presented by Maxim Group LLC and hosted by M-Vest, from Tuesday October ...

Southlake, TX, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (Nasdaq: HSCS; HSCSW) ("HeartSciences" or the "Company"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today reported financial results for the first quarter fiscal 2025 ended July 31, 2024 and provided a business update. First Fiscal Quarter 2025 Highlights: During the first quarter of fiscal yea ...

AI Technology Development - The company is focused on developing AI-based ECG technology to enhance cardiac screening capabilities [106]. - The MyoVista wavECG device is a proprietary 12-lead ECG that integrates AI-ECG algorithms for improved diagnostic information [106]. - The company entered into License Agreements with Mount Sinai to commercialize AI-ECG algorithms for various cardiovascular conditions [108]. - The FDA has cleared an algorithm for low ejection fraction (less than 40%) under the 510(k) pathway, with a submission for the MyoVista wavECG device planned for Q1 2025 [115]. - The company has received a patent for MyoVista wavelet technology from the Indian Patent Office in May 2024 [122]. Financial Performance - The company incurred approximately $300,000 in accrued interest to FRV as part of a debt extension agreement [122]. - The Streeterville Note issued to the company amounts to $2,510,000, with an interest rate of 8.5% per annum and a maturity of 18 months [123]. - Operating expenses primarily consist of research and development and selling, general, and administrative expenses [125]. - Research and development expenses include costs related to clinical trials, regulatory compliance, and personnel-related costs [126]. - Research and development expenses increased to $1.2 million for the three months ended July 31, 2024, up by $659,000 or 117% compared to the same period in 2023, primarily due to consulting costs for the MyoVista Insights Cloud Platform [129]. - Selling, general, and administrative expenses were approximately $0.9 million for the three months ended July 31, 2024, an increase of $86,000 or 11% compared to the same period in 2023, mainly due to payroll and professional expenses related to the reverse stock split [129]. - Total operating expenses reached $2.1 million for the three months ended July 31, 2024, reflecting a $745,000 or 56% increase from $1.3 million in the same period of 2023 [128]. - The net loss for the period ended July 31, 2024, was $2.1 million, a $685,000 or 50% increase compared to a net loss of $1.4 million in the same period of 2023 [128]. - As of July 31, 2024, the company had an accumulated deficit of $69.4 million and stockholder's equity of $5.9 million, with working capital of $4.7 million [131]. - The company incurred net cash used in operating activities of $2.0 million for the three months ended July 31, 2024, compared to $1.4 million for the same period in 2023 [137]. Capital Raising Activities - The company raised approximately $1.6 million from the sale of Common Stock under the Lincoln Park Purchase Agreement as of the date of the Quarterly Report [132]. - The company received approximately $9.8 million in net proceeds from the sale of Common Stock under the amended EDA as of the date of the Quarterly Report [133]. - The company entered into a Note Purchase Agreement with Streeterville for an unsecured promissory note of $2.51 million, resulting in approximately $1.9 million in net cash proceeds [134]. - The company reported a decrease in cash and cash equivalents to approximately $4.3 million as of July 31, 2024, down from $5.8 million as of April 30, 2024 [135].

Southlake, TX, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (NASDAQ: HSCS; HSCSW) ("HeartSciences" or the "Company"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today announced the close of a non-dilutive financing, with $1.9 million in net proceeds. The unsecured loan note has an 18-month maturity date and follows the recent 12-month extension of a $500 ...

HeartSciences Provides Business Update and Reports Fiscal 2024 Financial Results Southlake, TX, July 29, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (Nasdaq: HSCS; HSCSW) ("HeartSciences" or the "Company"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today reported financial results for the fiscal year 2024 ended April 30, 2024 and provided a business update. Fisc ...

Core Viewpoint - Heart Test Laboratories, Inc. (d/b/a HeartSciences) is advancing its AI-powered medical technology for ECGs/EKGs, aiming to enhance early detection of heart disease and improve healthcare outcomes through innovative solutions [1][36]. Business Developments - The company has fundamentally transformed its business model, positioning itself to offer both cloud-based and device-based AI-ECG solutions across various healthcare settings [3][34]. - The MyoVista Insights cloud-platform is being developed with a phased rollout plan, targeting FDA clearance alongside its first cloud-based AI-ECG algorithm [4][19]. - The company is finalizing adjustments to its device-based AI-ECG algorithm, leveraging extensive patient data from Mount Sinai to enhance its clinical utility [7][12]. Financial Overview - As of April 30, 2024, the company reported cash and cash equivalents of approximately $5.8 million and shareholders' equity of about $7.3 million, indicating a strong balance sheet [10][29]. - During fiscal year 2024, the company raised $10.3 million in net proceeds from common stock sales and converted $1.1 million of debt to equity [29]. Regulatory and Clinical Progress - The company is preparing for an FDA validation study for the LVEF algorithm, utilizing retrospective data to streamline costs and timelines [5][23]. - The MyoVista wavECG device is on track for FDA submission in early 2025, with final system testing underway [15][22]. - The company has established a robust patent portfolio, including new patents for AI-ECG applications in assessing heart function [9][28]. Market Position and Future Outlook - HeartSciences aims to capitalize on a projected $25 billion annual market for AI-ECG solutions, focusing on bridging the diagnostic gap for early heart disease detection [33]. - The MyoVista Insights platform is designed to be device agnostic, facilitating a marketplace for AI-ECG algorithms and enhancing clinical access to these technologies [11][34]. - The company has received positive feedback from early clinical use of its devices in Europe and has been selected to showcase its technology at significant health symposiums [26][34].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of Registrant as specified in its Charter) TEXAS 26-1344466 (State or other jurisdiction of incorporation or organization) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-4142 ...

Duncan Sleeman, UWE – Senior Lecturer (Cardiac Physiology) / Programme Lead (PGCert Echocardiography), an author of the abstract, stated, "The introduction of the MyoVista wavECG device could revolutionize our approach to managing the LV function query echo referral waitlist. By pre-screening inhospital patients with this AI-powered ECG device, we could identify those who do not require further cardiology intervention, thereby reducing unnecessary referrals and enabling quicker access to care for those in n ...

Southlake, TX, July 26, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (NASDAQ:HSCS, HSCSW))) ("HeartSciences" or the "Company"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today announced an analysis published by the Innovation Value Institute (IVI) titled "Introduction of AI assisted Digital Health Technology to Improve Cardiovascular Pathway Efficiency" focused o ...

Southlake, TX, July 25, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (NASDAQ:HSCS, HSCSW))) ("HeartSciences" or the "Company"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today announced that the MyoVista® wavECGTM has been selected by the Innovation Value Institute as a technology which can drive the radical transformation of healthcare and has been invited to de ...