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ENDRA Life Sciences Inc. (NDRA-9.51%) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The company reported no revenue for the year, as it continues to focus on the development and commercialization of its Thermo-Acoustic Enhanced Ultrasound (TAEUS) technology platform.
Research and development expenses decreased to $3,190,293 from $5,003,695 in the prior year, reflecting a shift in focus towards clinical trials.
Sales and marketing expenses were reduced to $571,040 from $820,554, due to a decrease in personnel until clinical trials are completed.
General and administrative expenses increased to $7,055,814 from $4,696,486, primarily due to a $2.4 million inventory reserve related to a strategic shift in product design.
The company reported a net loss of $11,507,947, compared to a net loss of $10,060,250 in the previous year.
ENDRA Life Sciences had $3,229,480 in cash as of December 31, 2024, and acknowledged the need to raise additional capital to continue its operations.
The company is pursuing regulatory approvals for its TAEUS technology in the European Union and the United States, with plans to commercialize the technology in these regions.
ENDRA's business model includes a subscription-based revenue model, targeting pharmaceutical companies, clinical research organizations, and healthcare providers.
The company is focused on developing TAEUS applications for liver fat measurement, with potential future applications in thermoablative surgery monitoring and vascular imaging.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the ENDRA Life Sciences Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.