Core Viewpoint - Catheter Precision has announced a $1.5 million private placement equity financing and the acquisition of promissory notes from QHSLab, Inc., aimed at enhancing its financial resources and expanding its market reach in cardiac electrophysiology and general cardiology [1][2]. Financing Details - The company sold 1,500 shares of Series B Preferred Stock for $1.5 million, which are convertible into 4,287,000 shares of common stock, equating to 2,858 shares of common stock per preferred share [3]. - Additionally, 4,285,716 Warrants were issued at an exercise price of $0.50 per share, with a call option if the common stock trades at $1.50 or more for twenty consecutive days [3]. - The Preferred Stock and Warrants do not have variable priced conversion features or voting rights, and the majority are not convertible until shareholder approval is obtained [3]. Acquisition of QHSLab Notes - The company issued another 1,500 shares of Series B Preferred Stock to acquire senior secured notes from QHSLab, with an approximate principal amount of $1.6 million, currently in default and accruing default interest at 18% [4]. - The notes are convertible into QHSLab common stock at a rate of $0.20 per share, but their valuation is uncertain due to the default status [4]. - Catheter Precision and QHSLab are pursuing a strategic partnership in the cardiovascular space [4]. Company Overview - Catheter Precision is a U.S.-based medical device company focused on developing advanced solutions for cardiac arrhythmias and electrophysiology procedures [6].

Core Insights - Catheter Precision, Inc. has announced new clinical data regarding its VIVO product, a non-invasive mapping system for identifying areas of ventricular arrhythmia, which shows over 95% accuracy and a reduction in procedure time by nearly 30% [2][4]. Company Overview - Catheter Precision is a US-based medical device company focused on developing advanced solutions for cardiac arrhythmias, collaborating with physicians to enhance electrophysiology procedures [6]. Product Details - VIVO (View Into Ventricular Onset) is a non-invasive 3D imaging system that helps physicians identify the origin of ventricular arrhythmias before procedures, thereby streamlining workflow and reducing procedure time. It has received marketing clearance from the U.S. FDA and holds the CE Mark [5]. Clinical Data Highlights - New clinical data indicates that VIVO not only functions as intended but may also improve patient outcomes, with significant reductions in procedure time and less burden of ventricular tachycardia (VT) during procedures [4]. - The data is being prepared for submission to industry journals for further detailed publication [3]. Expert Contributions - The new data has been compiled and presented by leading industry physicians, including Professor Sabine Ernst, Professor Tarv Dhanjal, and Dr. Dhanunjaya Lakkireddy [2].

Core Insights - Catheter Precision, Inc. is participating in the 46th annual Heart Rhythm Society (HRS) meeting from April 24 to 27, 2025, in San Diego, California, showcasing its advancements in cardiac electrophysiology [1][2] Company Overview - Catheter Precision is a U.S.-based medical device company focused on developing innovative solutions for the treatment of cardiac arrhythmias, particularly in electrophysiology procedures [8] Product Highlights - The company will feature four abstracts at HRS 2025, including three for its VIVO system and one for the LockeT device, indicating strong research validation and product resonance with the electrophysiology community [3][4] - VIVO is a non-invasive 3D imaging system that aids in identifying the origin of ventricular arrhythmias, streamlining workflow and reducing procedure time, and has received FDA marketing clearance and CE mark [6] - LockeT is a suture retention device designed for wound closure after percutaneous venous punctures, classified as a Class 1 device registered with the FDA [5] Research Findings - A multi-center study in Europe demonstrated that VIVO achieved over 94% accuracy in pre-procedure localization, with long-term procedural success exceeding 83% [7] - VIVO's efficacy in mapping and ablation for difficult-to-map premature ventricular contractions (PVCs) was highlighted in studies from two centers [7] - The safety and effectiveness of LockeT were confirmed in a study involving 139 patients, particularly for large-bore access electrophysiological procedures [7] - A novel study showed VIVO's accuracy in predicting exit site locations for scar-dependent ventricular tachycardia (VT), with an 89% prediction rate and an 86% correlation with successful ablation sites [7]

Core Points - Catheter Precision, Inc. announced that its audited financial statements for the year ended December 31, 2024, included an audit opinion with a Substantial Doubt Regarding Going Concern paragraph [1] - This announcement complies with NYSE American Company Guide Section 610(b), which mandates a separate public announcement for audit opinions containing a going concern paragraph [2] Financial Information - The audit opinion indicating substantial doubt about the company's ability to continue as a going concern was disclosed in the Annual Report on Form 10-K filed on March 31, 2025 [1] - The announcement does not alter the company's consolidated financial statements or its Annual Report on Form 10-K for the year ended December 31, 2024 [2]

Core Insights - Catheter Precision, Inc. has received a notice of allowance for its first US patent for the LockeT product, a surgical closure device for orthoscopic entry wounds, filed in December 2022 [1][2] - The company has also secured international patents for LockeT in China, Europe, and the United Kingdom, which is significant for its distribution discussions in these markets [2] - The company anticipates receiving the CE mark for LockeT within the current quarter, enabling revenue generation in Europe [2] Company Overview - Catheter Precision is a US-based medical device company focused on innovative solutions for cardiac arrhythmias, emphasizing the development of advanced technology for electrophysiology procedures [4] - The LockeT device is a Class 1 suture retention device designed to assist in wound closure after percutaneous venous punctures and is registered with the FDA [3] Market Position - The company has begun rolling out LockeT in the US market and has received positive feedback from hospitals, indicating a demand for products that improve outcomes while reducing costs per procedure [2]

Financial Performance - Total assets as of December 31, 2024, were $27.7 million[7] - Total shareholders' equity as of December 31, 2024, was $11.8 million[7] - Fourth quarter revenue was $149 thousand, representing a sequential increase of 55% over Q3 2024[7] - Full year 2024 revenue totaled $420 thousand[7] - Net loss for the fourth quarter was $5.6 million, with $3.1 million attributed to non-cash charges[7] - Total net loss for 2024 was $16.6 million, of which $7.5 million were non-cash charges[7] Product Development and Sales - The first sales of LockeT occurred in Q2 2024 and grew sequentially each quarter through the end of the year[1] - 26 institutions evaluated LockeT by year-end, either conducting or having completed their evaluations[1] - CE Mark for LockeT is anticipated in Q2 2025, allowing sales in 32 European countries[1] - Randomized Controlled Trial (RCT) for VIVO is planned to begin in Q3 2025[1]

Company Merger and Focus - The Company merged with Catheter Precision, Inc. on January 9, 2023, shifting focus to cardiac electrophysiology technologies[297]. Product Performance - The VIVO System has been utilized in over 1,000 procedures in the U.S. and EU, with no reported device-related complications[302]. - The Company recognized its first sale of the LockeT device in May 2024, with CE Mark approval expected in the first half of 2026[304]. - VIVO System product sales decreased by $214,000 from $442,000 in 2023 to $228,000 in 2024, while LockeT sales increased by $191,000[323]. Financial Performance - Revenues for the year ended December 31, 2024, were $420,000, a decrease of $22,000 compared to $442,000 in 2023[322]. - The cost of revenues increased by $12,000 for the year ended December 31, 2024, due to order fulfillment charges for LockeT[324]. - Selling, general and administrative expenses decreased by $5,773,000 from $17,122,000 in 2023 to $11,349,000 in 2024[322]. - Research and development expenses decreased by $203,000 from $475,000 in 2023 to $272,000 in 2024[322]. - Selling, general and administrative expenses decreased by approximately $5.8 million for the year ended December 31, 2024, primarily due to a $2.0 million decrease in legal fees and a $1.4 million decrease in professional accounting fees related to the Merger in 2023[325]. - Research and development expenses decreased by approximately $0.2 million for the year ended December 31, 2024, mainly due to a $0.1 million decrease in product development costs and regulatory affairs expenditures[326]. - The company recognized a goodwill impairment charge of $60.9 million for the year ended December 31, 2023, with no remaining goodwill balance as of December 31, 2023[328][329]. - The fair value of royalties payable decreased by $9.4 million for the year ended December 31, 2024, driven by changes in forecasted royalty payments and discount rates[330]. - The company recorded an income tax provision of $3.1 million in 2024, compared to zero in 2023, primarily due to a nonrecurring adjustment from an ownership change[332]. Cash Flow and Financing - As of December 31, 2024, the company had cash and cash equivalents of approximately $2.9 million and an accumulated deficit of approximately $292 million[333]. - Net cash used in operating activities was approximately $9.3 million for the year ended December 31, 2024, compared to $20.6 million in 2023[337][338]. - Net cash provided by financing activities was $8.6 million for the year ended December 31, 2024, primarily from the issuance of common stock and warrants[342]. - The company expects operating losses and negative cash flows to continue as it invests in commercial capabilities and anticipates the need for additional financing within the next three to six months[335][336]. Going Concern - Management has concluded there is substantial doubt about the company's ability to continue as a going concern for a period of one year after the issuance of the consolidated financial statements for the year ended December 31, 2024[336].

Financial Highlights - Catheter Precision reported total assets of $27.7 million and total shareholders' equity of $11.8 million as of December 31, 2024 [3] - The company had 8,004,633 outstanding shares of common stock by the end of 2024 [3] - Fourth quarter revenue reached $149 thousand, marking a sequential increase of 55% over Q3 2024, while full year 2024 revenue totaled $420 thousand [3] - The net loss for the fourth quarter was $5.6 million, with $3.1 million attributed to non-cash charges; total net loss for 2024 was $16.6 million, including $7.5 million in non-cash charges [3] Operational Updates - A new Chief Commercial Officer joined in Q2 2024, leading to a significant overhaul of the sales team [3] - The first sales of the LockeT device occurred in Q2 2024, with sales growing sequentially each quarter [3] - By year-end 2024, 26 hospitals had evaluated the LockeT device through surgical procedures [3] - The company completed audits for LockeT's CE Mark in Q4 2024, with expectations to receive the CE Mark in Q2 2025, allowing sales in 32 European countries starting Q3 2025 [3] - VIVO marketing and sales efforts are ongoing in the US and several international markets, including Germany, Turkey, and the UK [3] Clinical Studies and Publications - Two clinical studies were published in 2024, focusing on non-invasive mapping systems and the combination of cardiac imaging with electrocardiographic information [3] - The first LockeT journal manuscript and two abstracts were published in 2024, detailing the feasibility, safety, and efficacy of the LockeT device [3] - Additional clinical studies for both VIVO and LockeT are ongoing or planned for 2025, including a Randomized Controlled Trial (RCT) for VIVO set to begin in Q3 2025 [3]

FORT MILL, S.C., March 28, 2025 (GLOBE NEWSWIRE) -- Catheter Precision, Inc. (NYSE American: VTAK), a U.S.-based innovative medical device company focused on electrophysiology products, today announced its financial results and operational update for the period ending December 31, 2024. Highlights of 2024 and the fourth quarter include: New Chief Commercial Officer (CCO) joined in Q2, 2024.Replaced the majority of our prior sales team with new salespeople selected by our new CCO and our CEO. Training was c ...

Core Insights - Catheter Precision, Inc. is participating in three upcoming medical conferences to showcase its products, particularly the LockeT device and VIVO system [1][2][9] - The LockeT device has demonstrated clinical advantages over manual compression in a study involving 97 patients, including reduced time to ambulation and lower costs [1][4] - VIVO is a non-invasive 3D imaging system that aids in identifying the origin of ventricular arrhythmias, enhancing workflow and reducing procedure time [5] Conference Participation - Catheter Precision will attend the American College of Cardiology (ACC) meeting from March 29-31, 2025, where the LockeT device will be featured [9] - The company will also have a presence at the European Heart Rhythm Association (EHRA) and Society of Interventional Radiology (SIR) conferences, marking its first participation in an interventional radiology event [2][9] Product Highlights - LockeT is a Class 1 FDA-registered suture retention device designed for wound closure after percutaneous venous punctures [6] - VIVO has received marketing clearance from the U.S. FDA and holds a CE mark, indicating its regulatory approval for use [5] Company Overview - Catheter Precision is focused on developing innovative solutions for cardiac arrhythmias, emphasizing collaboration with physicians to advance its product offerings [7]