(Nasdaq: NMTC) Profile

OUR NEW PROFILE IS:   (NASDAQ: NMTC)

Strategic partnership with Zimmer Biomet (NYSE:ZBH, ~$27B mkt cap) to exclusively commercialize and distribute EVO® diagnostic electrodes; accelerated payment of $3.5 million received in August 2022

NMTC has no debt outstanding as of June 30, 2023

NeuroOne® Successfully Completes Initial Animal Implant of Novel Thin Film Paddle Lead for Spinal Cord Stimulation

Product revenue of $630,000 in Q3 2023, compared to $32,000 in Q3 2022

Collaboration revenue of $1.46 million in first nine months of FY 2023, compared to $6,000 in first nine months of FY 2022

CHECK OUT THE INVESTOR PRESENTATION HERE

CHECK OUT THE COMPANY FACT SHEET HERE

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Hello Everyone,

We have another biotech profile that we want you to put on your radar heading into Mondays session.

This one is sitting just above a buck right now but is known for big multi-session swings.

We have profiled this company a couple of times in the past before.  When we looked at this one back in June it jumped 35% in just 7 sessions.  The time before that we witnessed a jump of 18% overnight!

Pull up NMTC Immediately. 

NMTC is a medical technology company focused on the development and commercialization of a minimally invasive and high-definition/high-precision electrode technology platform used for acute diagnostics and chronic treatment across a wide range of neurologic conditions including epilepsy, Parkinson’s disease, dystonia, essential tremors, and chronic pain due to failed back surgeries. NeuroOne’s electrodes offer the potential to reduce the number of hospitalizations and surgical procedures, lower costs, and improve patient outcomes by offering combination diagnostic and therapeutic functions such as EEG recording and tissue ablation and/or chronic stimulation. In addition to NeuroOne’s FDA-cleared EVO® diagnostic electrodes, a combination recording and radiofrequency (RF) ablation technology, OneRF®, is currently under development as the Company’s first therapeutic device. Other research and development programs include revolutionary new thin-film-based (chronic) electrodes for spinal cord stimulation (SCS) and deep brain stimulation (DBS), and the potential application of the Company’s technology for artificial intelligence and machine learning.

NeuroOne® Announces First Clinical Case Using Evo® sEEG Electrode in Robotic Neurosurgery

Evo sEEG electrode used with Zimmer Biomet’s ROSA One® Brain duringprocedure at Cleveland Clinic

EDEN PRAIRIE, Minn., May 17, 2023 (GLOBE NEWSWIRE) — NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) (“NeuroOne” or the “Company”), a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders, today announced the first clinical case using the Evo® sEEG electrode in robotic neurosurgery. Performed by Dr. William Bingaman at Cleveland Clinic, the procedure was the first to utilize NeuroOne’s Evo sEEG electrode, exclusively marketed in the U.S. by Zimmer Biomet, with Zimmer Biomet’s ROSA One® Brain, a robotic platform that assists surgeons in planning and performing complex minimally invasive neurosurgical procedures.

Dave Rosa, CEO of NeuroOne, commented, “This clinical case utilizing our minimally invasive and high-definition electrode technology with ROSA One Brain is a major milestone in NeuroOne’s partnership with Zimmer Biomet. Now that Zimmer Biomet has commenced U.S. distribution of our Evo sEEG electrodes, this case study confirms the synergistic use of our product with Zimmer Biomet’s robotics platform which was the foundation of our interest to partner with Zimmer Biomet.”

The Evo sEEG electrode technology offers stereoelectroencephalography recording, brain stimulation and future development of ablation solutions targeted for patients suffering from multiple neurological conditions. In October 2022, NeuroOne received FDA clearance to market its Evo sEEG electrode technology for temporary (less than 30 days) use with recording, monitoring, and stimulation equipment for the recording, monitoring, and stimulation of electrical signals at the subsurface level of the brain.

NeuroOne® Reports Third Quarter Fiscal Year 2023 Financial Results and Provides Corporate Update

EDEN PRAIRIE, Minn., Aug. 14, 2023 (GLOBE NEWSWIRE) — NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) (“NeuroOne” or the “Company”), a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders, today announces its operating results for the fiscal third quarter 2023 ended June 30, 2023.

Fiscal Third Quarter 2023 and Recent Business Updates

Financial Highlights

  • Product revenue of $630,000 in Q3 2023, compared to $32,000 in Q3 2022
  • Collaboration revenue of $1.46 million in first nine months of FY 2023, compared to $6,000 in first nine months of FY 2022
  • Operating cash burn reduction expected with the completion of development of the OneRF™ Ablation System beginning in Fiscal Q4 2023

Evo® sEEG:

  • Completed limited launch at target centers by end of July; full launch with Zimmer Biomet expected by end of fiscal fourth quarter
  • Positive user feedback received on product evaluation forms
  • Initiation of new sites expected to ramp in fiscal fourth quarter
  • Received first order for calendar 2024 product supply from Zimmer Biomet

OneRFAblation:

  • Submitted 510(k) to FDA on June 8th
  • Poster presentation on OneRF Ablation System preclinical study at the Neurological Disorders Summit (NDS 2023) in Italy
  • Received feedback from FDA regarding 510(k) submission for OneRF Ablation System

Spinal Cord Stimulation Program:

  • Completed 28 day animal implants of the Company’s thin film spinal cord stimulation paddle electrodes without any adverse events or neurological complications
  • Filed a non-provisional patent for a novel conformable thin film paddle lead for spinal cord placement

Drug Delivery Program:

  • Successfully completed proof of concept testing of drug delivery into the brain in a small animal model at the Mayo Clinic in Rochester, Minnesota

Dave Rosa, CEO of NeuroOne, commented, “The Company continues to execute on a number of commercial, development and financing objectives. We are now beginning to expand the commercial launch of our Evo sEEG electrode with Zimmer Biomet after a successful limited launch. In addition, we received encouraging feedback from the FDA regarding the Company’s recent 510(k) FDA submission of the OneRF Ablation System and believe our previous timelines remain on track. We are excited by the potential of our drug delivery system currently in development after recent testing at the Mayo Clinic in Rochester Minnesota. We also recently raised gross proceeds of $6.0 million through a public offering which included new fundamental institutional investors without having to offer warrants and $2.5 million through the use of an ATM (at-the-market) facility. I am pleased with the Company’s continued execution on our strategic plan and I look forward to our future progress in the areas outlined.”

Upcoming Targeted Milestones

Evo sEEG:

  • Full market launch of Evo sEEG system with Zimmer Biomet
  • Expand sales training of the sEEG product line to Zimmer personnel

OneRF Ablation:

  • Poster presentation planned for the Congress of Neurological Surgeons (CNS) Meeting in September
  • Initiate component orders for OneRF ablation system for future commercialization

SCS Program:

  • Complete testing of an implantable pulse generator (IPG) for fluid ingress
  • Perform percutaneous placement of a paddle electrode in a human cadaver model

Drug Delivery Program:

  • Define product requirements for drug delivery system for both clinical and research use in the biotech and pharma industry
  • Complete large animal feasibility studies for drug delivery system into the brain.

Fiscal Third Quarter 2023 Financial Results

Product revenue was $630,000 in the fiscal third quarter 2023, compared to product revenue of $32,000 in the fiscal third quarter 2022. For the first nine months of fiscal 2023, product revenue was $1.2 million, compared to $102,000 for the same period in fiscal 2022. Collaboration revenue was $1.46 million in the first nine months of fiscal 2023, compared to collaboration revenue of $6,000 in the first nine months of fiscal 2022. Collaboration revenue was derived from the Zimmer Development Agreement and represents the portion of the exclusivity and milestone fee payments eligible for revenue recognition during the respective periods.

Total operating expenses in the fiscal third quarter 2023 were $3.8 million, compared with $2.8 million in the same period of the prior fiscal year. Research and Development (R&D) expense in the fiscal third quarter 2023 was $1.9 million compared with $1.2 million in the same period of fiscal 2022. Selling, General and Administrative (SG&A) expense in the fiscal third quarter 2023 was $1.9 million compared with $1.5 million in the prior year period. For the first nine months of fiscal 2023, total operating expenses were $10.5 million, compared with $8.6 million in the same period of the prior fiscal year. R&D expense in the first nine months of fiscal 2023 was $5.2 million compared with $3.5 million in the same period of fiscal 2022. SG&A expense in the first nine months of fiscal 2023 was $5.3 million compared with $5.1 million in the prior year period.

Net loss was $3.5 million for the fiscal third quarter 2023, compared to a net loss of $2.8 million in the prior year period. Net loss for the first nine months of fiscal 2023 was $8.7 million compared with $8.6 million in the same period of fiscal 2022.

As of June 30, 2023, the Company had cash and cash equivalents of $3.1 million, compared to $8.1 million in cash and cash equivalents and $3.0 million in short term investments as of September 30, 2022. The Company had working capital of $3.1 million as of June 30, 2023, compared to working capital of $9.1 million as of September 30, 2022.

On July 27, 2023, the Company consummated an underwritten public offering of its common stock from which the Company received $5.2 million in net proceeds. In addition, the Company sold common stock under the ATM program from which the Company received net proceeds of $2.5 million.

The Company had no debt outstanding as of June 30, 2023.

NeuroOne® Successfully Completes Initial Animal Implant of Novel Thin Film Paddle Lead for Spinal Cord Stimulation

Company is also developing a percutaneous (through a needle) delivery system for paddle leads

EDEN PRAIRIE, Minn., March 16, 2023 /PRNewswire/ — NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) (“NeuroOne” or the “Company”), a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders, today announced the successful completion of an initial animal implant of its novel thin film paddle leads for spinal cord stimulation. The devices are intended for the treatment of patients with chronic back pain due to multiple failed back surgery syndrome, intractable low back and leg pain.

The study evaluated the feasibility of implanting a variety of sizes and shapes of ultra-thin paddle leads in a sheep model. A mini laminectomy surgical approach was used to gain access to the epidural space for device placement. All devices were easily advanced to the target location in under one minute. A competitive silicone-based lead was also placed for comparison purposes. The NeuroOne lead fit comfortably in the epidural space and the veterinary surgeon reported no concerns regarding the placement of the lead.

These results demonstrated feasibility for placement of a thin film paddle lead intended to treat chronic back pain due to multiple failed back surgeries. More testing will be completed to optimize the design and placement. The Company is also developing a percutaneous (through a needle) paddle lead placement system which would eliminate the need for an incision in the patient’s back. The preliminary bench top testing for this percutaneous approach has also been successfully completed.

Dave Rosa, CEO of NeuroOne, commented, “This represents a major milestone for the Company as we continue our development of innovative devices that provide therapeutic properties coupled with recording capabilities. The market opportunity for spinal cord stimulation is large and growing. We believe our technology can fill a market need for improved patient outcomes due in part to its potential ability to place a paddle device through a needle, provide a larger stimulation surface area of the spinal cord, better conformability with the tissue and improve battery life of devices, reducing the frequency of patient’s need to recharge or replace the battery.”

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Evo® Cortical ElectrodeNeuroOne offers a breakthrough thin-film electrode for the diagnosis of various neurological conditions. Evo’s high- definition, minimally invasive technology delivers major advantages over the limitations of legacy silicone-based electrodes, hampered by the lack of innovation and progress in electrode technology, that are still widely used today.o Over 7 times thinner and 8 times lighter than comparable silicone electrodes used in legacy products. o Flexibility, thinness, and reduced weight facilitates potential for minimally invasive placement.o Reduced inflammation as compared to silicon-based legacy electrodes based on published testing by Mayo.Evo cortical electrode technology has received 510(k) clearance from the FDA for recording, monitoring, and stimulating brain tissue for up to 30 days.

Evo® sEEG Electrode

The Evo sEEG electrode technology offers stereoelectrocencephalography recording, spinal cord stimulation, brain stimulation and ablation solutions. The first clinical case using the Evo sEEG electrode was recently performed by Dr. Robert Gross at Emory University for intraoperative brain mapping at the subsurface level of the brain.

The sEEG electrode has received FDA 510(k) clearance from the FDA for use of less than 24 hours. A 510(k) for Evo sEEG electrode technology for up to 30 day use has been submitted to the FDA.

Brain Monitoring – Understanding What Allows Us To Sense, Move, Think And Feel

Neurons

86 BILLION NEURONS

Neurons communicate through electrical and chemical signals. The specific properties of the neurons composing a brain area and their connections with neurons in other brain areas, define the function of a brain area (e.g. language, vision, movement).

Monitoring Neural Activity

THEY CAN RECORD ELECTRICAL SIGNALS

There are different ways to record and monitor neural activity. Their solution is to provide electrodes that are placed on top of or within the brain and capture the activity of a group of neurons located underneath/around each contact. The signals recorded are called intracranial electroencephalogram (iEEG) or electrocorticography (ECoG) signals. The shape, amplitude and frequency of these electrical signals provide a readout of the activity of that brain area.

Monitoring Neurological Disorders

Neurological diseases may be associated with disturbances in neural activity and connectivity between brain areas. The changes in the shape, amplitude and frequency of recorded electrical signals may be used to identify areas with altered activity.

Epilepsy

Epilepsy is the disease associated with spontaneously recurring seizures. A seizure is a sudden, uncontrolled electrical disturbance in the brain. It can cause changes in behavior, movements or feelings, and in levels of consciousness. There are different types of seizures and their characterization and classification helps guide the treatment.

There are more than twenty seven FDA-approved drugs for the treatment of seizures. However, in ~1/3 of the patient’s medication fails to control their seizures. These patients are candidates for surgical options.

Evo® Cortical Electrode

Cortical or subdural electrodes are used in electrocorticography (ECoG) or intracranial electroencephalography (iEEG) surgeries to monitor, record and stimulate the surface of the brain for up to 30 days. The company’s Evo cortical electrode portfolio consists of various contact configurations of strip and grid electrodes. (Rx only)

The Evo Advantage 

Decreased Immunological Response – The Evo Electrode is over 7 times thinner than a silicone electrode. The flexibility and reduced volume should reduce pain and edema.

The Evo’s polyimide substrate has properties like increased flexibility, reduced volume, and decreased immunological response, which should reduce signal artifacts.

Single Tail Design – The single thin tail design allows the implanted electrode tail to be tunneled through one incision which should reduce infection risk and procedure time.

Reduced Cable Management – A disposable cable assembly is sent with each Evo Electrode as an electrode kit, removing the need to source the correct cables for each electrode being used in surgery. Also, hospital resources are freed from the management of sterilizing and storing individual electrode cable assemblies.

How NeuroOne’s Thin Film Electrode Technology is Different

In comparison to currently available technologies, our electrodes are manufactured with polyimide thin film. Our electrodes are designed to reduce trauma to the brain by allowing a less invasive implant due to the flexibility, thinness and reduced weight of the electrode.

Furthermore, the potential to significantly increase the resolution of brain recordings may enable the usage of powerful computing techniques, such as machine learning and artificial intelligence.

Caution: US Federal law restricts this device to sell by or on the order of a physician

Two FDA-Cleared Devices and Counting 

Are you beginning to understand that NeuroOne is not just “another” MedTech company? In fact, their Evo Cortical and sEEG Electrodes are both FDA approved!

What they are doing right now has incredible implications for the future of the medical industry.

So much so that the technologies below could be commonplace and in wide use across the globe.

Evo® Cortical Electrode* (less than 30-day use)

NeuroOne offers a thin-film electrode for the diagnosis of various neurological conditions. Evo’s high- definition, minimally invasive technology delivers major advantages over the limitations of legacy silicone-based electrodes, hampered by the lack of innovation and progress in electrode technology, that are still widely used today.

• 7 times thinner and 8 times lighter than typical silicone electrodes1 • Reduced artifact and improved signal quality2 • Reduced inflammation based on published testing by Mayo Clinic3

Evo® sEEG Electrode* (less than 30-day use)

The Evo sEEG electrode technology offers stereoelectroencephalography recording, spinal cord stimulation, brain stimulation and ablation solutions. The first clinical case using the Evo sEEG electrode was performed intraoperatively by Dr. Robert Gross at Emory University for brain mapping at the subsurface level of the brain.

• Designed to be less invasive – reduced risk of brain plunge, may require fewer brain insertions • Improved signal quality vs. other devices1 • Proven implant accuracy1 • Automated manufacturing, precise and consistent quality1

*Caution U.S. Federal law restricts this device to sale by, or on the order of, a physician.

1NeuroOne data on file 2Bower R., et al. December 2017. Multi-Resolution intracranial EEG rodent recording system. (Abst. 2.062) 2017. American Epilepsy Society 3Worrell, G. et. al. December 2019. Commercial Scale Production of Thin-Film electrode arrays for Clinical Intracranial EEG. (Abst. 1.154), 2019. American Epilepsy Society)

OneRFTM Therapeutic Ablation Electrode System

OneRF is a developing technology that utilizes existing implanted sEEG diagnostic electrodes for RF ablation in nervous (brain) tissue to create tissue lesion(s). It is designed to be a safer and less expensive combination electrode, intended to improve patient outcomes, reduce procedures and overall treatment cost.

NeuroOne® Announces First Clinical Case Using Evo® sEEG Electrode

Evo sEEG electrodes used for brain mapping in epilepsy surgery

EDEN PRAIRIE, Minn., May 10, 2023 (GLOBE NEWSWIRE) — NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) (“NeuroOne” or the “Company”), a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders, today announced that its first clinical case using the Evo® sEEG electrode was performed by Dr. Jamie Van Gompel at Mayo Clinic. Using a non-robotic stereotactic frame system, Evo electrodes were implanted successfully and met the Company’s product performance objectives.

Dave Rosa, CEO of NeuroOne, commented, “We would like to thank Dr. Van Gompel and his surgical team at Mayo for this ‘first in the world’ opportunity. We are ecstatic with the initial performance of our Evo sEEG electrodes which confirmed the results of many years of testing on the device. While we previously used the device intraoperatively, this was the first clinical case that was cleared by the FDA for less than 30 day use. We look forward to continued success with the launch of the technology as we continue the roll out of the technology through our distribution partner, Zimmer Biomet.”

NeuroOne provides a full line of electrode technology to address an estimated worldwide market of $100 million for patients requiring diagnostic brain mapping procedures. Epilepsy mapping procedures primarily utilize sEEG electrodes due to their less invasive insertion procedure, but less than 5% of people with drug-resistant epilepsy who are surgical candidates receive diagnostic procedures using sEEGs. NeuroOne believes there is a significant opportunity to expand market adoption of sEEG technology with broad U.S. distribution of its Evo product line.

Mayo Clinic has a financial interest in the technology referenced in this press release. Mayo Clinic will use any revenue it receives to support its not-for-profit mission in patient care, education and research.

MAJOR CATALYSTS

  • Disruptive next-generation diagnostic electrodes advancing a new era in neuroscience; foundational technology initially developed in collaboration with Mayo Clinic, a shareholder of the Company.
  • Strategic partnership with Zimmer Biomet (NYSE:ZBH, ~$27B mkt cap) to exclusively commercialize and distribute EVO® diagnostic electrodes; accelerated payment of $3.5 million received in August 2022.
  • Potential to penetrate large disease populations including epilepsy, Parkinson’s disease, and spinal cord stimulation, with total addressable markets of $1+ billion, $5+ billion, and $10+ billion, respectively.
  • Multi-billion market opportunity for combination devices; potential for technology adaptation and entry into AI and machine learning markets.
  • Platform technology with licensing potential for applications in urinary incontinence, pain management, hypertension, depression, and other related neurological disorders.
  • Ample capital resources to support upcoming commercial and development catalysts including the commercial launch of the Evo sEEG diagnostic line, and further development of OneRF and a thin-film-based SCS electrode system.
  • Leadership with deep expertise in medical device technology, marketing, and business development; world-class board of directors; esteemed scientific and physician advisory boards.

NeuroOne® Announces $3.5 Million Accelerated Milestone Payment from Zimmer Biomet for Evo® sEEG Electrode

Amendment provides Zimmer Biomet with 350,000 warrants with exercise price of $3.00 per share

EDEN PRAIRIE, Minn., Aug. 3, 2022 /PRNewswire/ — NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) (“NeuroOne” or the “Company”), a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders, today announced that the Company entered into an amendment to its Exclusive Development and Distribution Agreement with Zimmer Biomet, Inc. (“Zimmer”) that will provide the Company with a $3.5 million accelerated payment within 10 business days which relates to certain milestone payments.  In addition, Zimmer Biomet will receive a Warrant to purchase 350,000 shares of the Company’s common stock, with an exercise price of $3.00 per share.

Dave Rosa, Chief Executive Officer of NeuroOne, states, “I want to thank Zimmer for all their support to date and their confidence in our business, technology and future endeavors. This agreement accomplishes multiple objectives for NeuroOne, most importantly by providing additional capital to our balance sheet in the short-term without the need for a highly dilutive financing, and further reinforcing our ongoing partnership with Zimmer.”

Brian Hatcher, President of the Trauma, CMFT, Foot and Ankle Division of Zimmer said, “We look forward to continuing the relationship with NeuroOne as we advance our mission to alleviate pain and improve the quality of life for people around the world.” Under the Exclusive Development and Distribution Agreement signed by both parties in July 2020, Zimmer Biomet has exclusive global distribution rights to distribute the Company’s Cortical and sEEG diagnostic electrode technology.

NEWS

MANAGMENT

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