Movano(US:MOVE)2024-08-14 20:13Financial Performance - Movano Health reported an operating loss of $6.4 million in Q2 2024, an improvement from a loss of $7.4 million in Q2 2023[6]. - Movano Health's net loss for Q2 2024 was $6.19 million, compared to a net loss of $7.27 million in Q2 2023[12]. - Total cash and cash equivalents as of June 30, 2024, were $16.9 million, up from $6.1 million at the end of 2023[10]. Product Development and Launch - The company shipped 1,837 Evie Rings in Q2 2024, but did not report revenue due to previously deferred revenue being offset by customer refunds[6]. - Movano Health is preparing for the Evie Ring to be back in stock on September 17, 2024, with enhancements in product experience and customer service[1]. - The company is pursuing FDA 510(k) clearance for the EvieMED Ring and plans to meet with FDA representatives in mid-August[2]. - Movano Health is focused on launching EvieMED and securing B2B opportunities across the healthcare sector[1]. Partnerships and Studies - Movano Health is in the agreement phase with a global pharmaceutical company for a B2B program expected to start in late 2024, potentially expanding in 2025[5]. - A clinical study partnership with MIT is underway to study the long-term effects of Chronic Lyme and Long Covid using the Evie Ring[4]. - The company completed a cuffless blood pressure clinical study in June 2024 and plans another study in Q4 2024[5].