
Financial Performance - Net loss for Q1 2024 was $2.8 million, or $0.26 per share, compared to a net loss of $2.9 million, or $0.93 per share in Q1 2023[5]. - Operating expenses for Q1 2024 were $2.8 million, a decrease from $2.9 million in Q1 2023, primarily due to lower research and development expenses[4]. - Research and development expenses for Q1 2024 were $1.04 million, down from $1.39 million in Q1 2023[17]. - The company reported a net cash used in operating activities of $2.14 million for Q1 2024, compared to $2.51 million in Q1 2023[20]. Cash Position - Cash and cash equivalents as of March 31, 2024, were $1.1 million, down from $2.8 million at the end of Q1 2023[6]. - Total assets decreased to $5.06 million as of March 31, 2024, from $6.75 million at the end of Q1 2023[15]. - Total current liabilities increased to $1.22 million as of March 31, 2024, compared to $0.90 million at the end of Q1 2023[15]. Product Development - The first TAEUS system was installed in the UK at King's College Hospital for clinical evaluation, with a study expected to include approximately 75 subjects[10]. - ENDRA is preparing for a pre-submission meeting with the FDA to align on clinical study design and statistical analysis for the TAEUS system[3]. Intellectual Property - The company expanded its intellectual property portfolio to 80 issued patents globally, with eight additional patents granted in Q1 2024[10].