Nemaura Medical Reports Fiscal Q1 2024 Results And Provides Business Update; Cash And Cash Equivalents At 30th June 2023 Were ~$4M, And The Co Announced On 11th August 2023 That It Had Secured A Further $6.5M In Clean Debt
Portfolio Pulse from Happy Mohamed
Nemaura Medical, Inc. (NASDAQ:NMRD) has released its financial results for Q1 2024, reporting cash and cash equivalents of approximately $4M as of June 30, 2023. The company also announced that it secured an additional $6.5M in clean debt on August 11, 2023. Other highlights include initial patient data from the UK NHS Miboko Study showing weight loss in all participants, continued development of its consumer metabolic health platform, and ongoing work with Benchmark Electronics Inc for future volume scale-up manufacture.
August 14, 2023 | 1:05 pm
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Nemaura Medical reported Q1 2024 results with cash and equivalents of $4M and an additional $6.5M in clean debt. The company continues to develop its metabolic health platform and work with Benchmark Electronics.
The company's financial results show a stable cash position and additional funding secured, which is positive. However, the impact on the stock price will depend on how these results compare to market expectations. The ongoing development of its health platform and partnership with Benchmark Electronics could potentially drive future growth.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100