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More bad news for Musk as Tesla deliveries miss mark again
Sky News· 2025-07-02 19:01
Group 1 - Tesla's deliveries from April to June totaled 384,122, marking a 13.5% decline compared to the same period last year, indicating a continued slump in production [1] - Wall Street analysts had anticipated approximately 1,000 more deliveries than reported, highlighting a significant shortfall in expectations [1] - Tesla's profits for the first quarter fell by 71% to $409 million from $1.39 billion, with revenues dropping 9% to $19.3 billion, which were also below forecasts [9] Group 2 - Despite the negative delivery figures, analysts at Wedbush expressed optimism about Tesla's future, citing advancements in autonomous driving, robotics, and other technologies as key growth drivers [6] - The stock price of Tesla experienced a 5% decline earlier in the week but rebounded with a 4.5% increase on Wednesday, suggesting some recovery in investor sentiment [6] - The upcoming financial details for Tesla are expected to be published later this month, which may provide further insights into the company's performance [7]
ONWARD Medical Files 510(k) with US FDA for ARC-EX System Home Use and Submits CE Mark Application
Globenewswire· 2025-07-01 05:30
Core Insights - ONWARD Medical N.V. has submitted two significant regulatory applications for its ARC-EX System, including a 510(k) application to the FDA for home use and a CE Mark application for commercialization in the EU [1][7] - The ARC-EX System is the first FDA-cleared technology aimed at improving hand sensation and strength after spinal cord injury (SCI), with strong early demand and positive user feedback indicating a successful market trajectory [2][4] - The company aims to expand access to the ARC-EX System, enhancing its market presence and providing improved convenience for individuals with SCI [4] Regulatory Developments - The 510(k) application seeks to allow marketing of the ARC-EX System for home use in the United States, which would significantly broaden access to the technology [7] - The CE Mark application is intended to enable commercialization of the ARC-EX System in the European Union and other countries that recognize CE Marking [3][7] Clinical Evidence - Positive results from the Pathfinder2 Study indicate that ARC-EX Therapy, combined with activity-based rehabilitation, leads to significant functional improvements in individuals with SCI, including gains in upper body strength, trunk control, and balance over a one-year period [4] Company Background - ONWARD Medical is a leading neurotechnology company focused on therapies to restore movement and function in individuals with spinal cord injuries and other movement disabilities, with a history of scientific discovery and clinical studies [5] - The company has developed ARC Therapy, which has received ten Breakthrough Device Designations from the FDA, and is also working on an investigational implantable system called ARC-IM [5] Market Position - The company is headquartered in the Netherlands, with additional facilities in Switzerland and the United States, and is publicly listed on Euronext and OTCQX [6]
ONWARD Medical Advances Brain-Computer Interface Leadership with Fourth and Fifth Successful BCI Implants
Globenewswire· 2025-05-21 05:30
Core Insights - ONWARD Medical N.V. has successfully implanted its investigational ARC-BCI Therapy in two additional individuals with spinal cord injury, bringing the total to five successful implants, reinforcing its leadership in BCI-enabled movement solutions [1][2][4] Group 1: Company Achievements - The latest procedures were performed at Centre Hospitalier Universitaire Vaudois in Switzerland, showcasing the company's collaboration with leading medical professionals [2] - The fourth procedure involved a 48-year-old man with a spinal cord injury from 2024, while the fifth was on a 37-year-old woman with an injury from 2011, indicating the therapy's application across different injury timelines [3] - The CEO of ONWARD Medical emphasized the importance of these procedures in advancing understanding of the therapy and moving closer to enabling thought-driven movement for individuals with paralysis [4] Group 2: Technology and Research - The ARC-BCI System combines brain-computer interface technology with spinal cord stimulation to create a wireless connection that allows thought-driven movement after paralysis, utilizing AI to decode brain signals [4] - The therapy is part of ongoing clinical feasibility studies supported by grants from the European Innovation Council and the Christopher & Dana Reeve Foundation, indicating strong institutional backing [5] - The therapy has been recognized with Breakthrough Device Designation by the FDA, highlighting its potential impact in the medical field [4] Group 3: Media and Public Engagement - ONWARD ARC-BCI Therapy was featured on CBS 60 Minutes, enhancing public awareness and interest in the therapy and its potential benefits for individuals with spinal cord injuries [6][8]