enVVeno Medical Reports Q3 2023 Financial Results And Provides Corporate Update; The Company Ended The Quarter With $25.7M In Cash And Investments
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enVVeno Medical Corporation (NASDAQ:NVNO) reported Q3 2023 financial results, ending the quarter with $25.7M in cash and investments. The company achieved full enrollment for its VenoValve U.S. pivotal trial and plans to expedite the development of enVVe, a transcatheter replacement venous valve. The company's cash burn for the quarter was $4.1M, in line with previous guidance. The company also closed a $28M private placement, which is expected to fund the company through several significant milestones.
October 26, 2023 | 12:24 pm
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enVVeno Medical reported Q3 2023 results, with $25.7M in cash and investments. The company achieved full enrollment for its VenoValve trial and plans to expedite the development of enVVe. It also closed a $28M private placement.
The company's financial results show a strong cash position, which is positive for the stock. The full enrollment for the VenoValve trial and the expedited development of enVVe indicate progress in the company's product pipeline, which could potentially lead to future revenue growth. The closing of a $28M private placement provides additional funding for the company's operations and development plans, which is also positive for the stock.
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