HeartSciences reported financial results for Q2 FY2025 ended October 31, 2024, with a net loss of $2.1 million for the quarter and $4.1 million for the six months. Research and development expenses increased 83% YoY to $2.4 million for the six-month period, primarily due to increased investment in the MyoVista Insights Cloud Platform development and FDA submission process. The company had cash and equivalents of $4.1 million as of October 31, 2024.The company secured additional funding through multiple channels, including a $2.5 million note from Streeterville Capital in September 2024, yielding net proceeds of $1.9 million. HeartSciences also raised capital through its ATM facility and equity line, receiving approximately $9.8 million and $1.8 million in net proceeds respectively to date.HeartSciences is preparing for FDA submission of its MyoVista wavECG device in Q1 2025 under the 510(k) pathway, following recent FDA guidance. The company plans to submit its MyoVista Insights Cloud Platform and low ejection fraction algorithm in H2 2025. Management noted that current cash resources are insufficient to fund operations for the next twelve months, indicating the need for additional capital raising.

HeartSciences reported financial results for Q2 FY2025 ended October 31, 2024, with a net loss of $2.1 million for the quarter and $4.1 million for the six months. Research and development expenses increased 83% YoY to $2.4 million for the six-month period, primarily due to increased investment in the MyoVista Insights Cloud Platform development and FDA submission process. The company had cash and equivalents of $4.1 million as of October 31, 2024.The company secured additional funding through multiple channels, including a $2.5 million note from Streeterville Capital in September 2024, yielding net proceeds of $1.9 million. HeartSciences also raised capital through its ATM facility and equity line, receiving approximately $9.8 million and $1.8 million in net proceeds respectively to date.HeartSciences is preparing for FDA submission of its MyoVista wavECG device in Q1 2025 under the 510(k) pathway, following recent FDA guidance. The company plans to submit its MyoVista Insights Cloud Platform and low ejection fraction algorithm in H2 2025. Management noted that current cash resources are insufficient to fund operations for the next twelve months, indicating the need for additional capital raising.