ENDRA Life Sciences Inc. reported a net loss of $11.5 million for the fiscal year ending December 31, 2024, compared to a net loss of $10.1 million in the previous year. The company, which specializes in developing its Thermo-Acoustic Enhanced Ultrasound (TAEUS) technology for liver fat measurement, has yet to generate any revenue from its products. As of December 31, 2024, ENDRA had an accumulated deficit of $103.4 million and cash reserves of $3.2 million, raising concerns about its ability to continue as a going concern without additional financing.
Research and development expenses decreased by 36% to $3.2 million in 2024, down from $5.0 million in 2023, as the company shifted focus towards clinical trials after completing the initial development of its TAEUS product. Sales and marketing expenses also fell by 30% to $571,040, reflecting a reduction in personnel as the company awaits regulatory approvals. However, general and administrative expenses surged by 50% to $7.1 million, primarily due to a significant inventory reserve of $2.5 million, which was established as part of a strategic shift to redesign the TAEUS liver system to be more cost-effective and user-friendly.
In terms of operational developments, ENDRA is targeting four key markets for its TAEUS technology: pharmaceutical companies and clinical research organizations, high-end primary care networks, bariatric and metabolic clinics, and primary/internal medicine practices. The company plans to implement a subscription-based business model alongside traditional sales, aiming to enhance accessibility and affordability for its products. As of December 31, 2024, ENDRA employed 21 individuals, with a focus on research and development, regulatory activities, and administration.
Looking ahead, ENDRA is actively seeking additional capital to fund its operations and commercialization efforts. The company has initiated a De Novo request with the FDA for its TAEUS liver device, which is currently undergoing review. The outcome of this regulatory process will be critical for the company’s future, as successful approval could pave the way for market entry and revenue generation. However, the company acknowledges the inherent risks and uncertainties associated with clinical trials and regulatory approvals, which could impact its financial stability and operational plans.
About ENDRA Life Sciences Inc.
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