CurveBeam AI progress and financial update

CurveBeam AI (ASX:CVB) continues to make strides in the medical imaging sector. During the quarter ending September 30, 2024, the company secured FDA 510(k) clearance for its enhanced HiRise™ device. Additionally, it maintained steady sales with purchase orders for three HiRise™ units. Financially, CurveBeam AI raised A$11.54 million and is effectively managing its overheads.

Comprehensive overview of CurveBeam AI's quarterly achievements

During the quarter ending September 2024, CurveBeam AI maintained its momentum in the medical imaging industry. The company received purchase orders for three HiRise™ devices, upheld steady sales, and achieved FDA clearance for the enhanced HiRise™. Efforts to validate the device for robotic surgical systems are in progress. Financial management has been a priority, with successful capital raising of A$11.54 million, reducing annual cash overheads to approximately A$17 million. CurveBeam AI is strategically managing its funds for sales, marketing, and new product development. Looking ahead, the company aims to secure FDA clearance for its bone mineral density software by mid-2025, while continuing to focus on fulfilling its business objectives and meeting regulatory milestones.

Executive insights on recent developments

We are pleased with the progress made this quarter, especially with the FDA clearance of our enhanced HiRise™ device. This milestone, along with the positive feedback from patient imaging at U.S. sites, validates our efforts in advancing medical imaging technology. Our financial strategy remains focused on maintaining a sustainable cash runway while continuing to develop and market our products.