MINNEAPOLIS - Nuwellis, Inc. (NASDAQ: NUWE), a company specializing in medical technology for patients with fluid overload, announced today that it has been granted a Notice of Allowance from the U.S. Patent and Trademark Office for its pediatric Continuous Renal Replacement Therapy (CRRT) device, known as Vivian™. This patent is a key addition to Nuwellis' intellectual property portfolio and marks a step forward in developing technologies aimed at enhancing care for critically ill children.
The patented technology is designed to allow a seamless transition between stationary and transport modes, enhancing patient mobility during treatment. This feature is expected to provide healthcare professionals with greater flexibility in customizing treatment plans to the individual needs of pediatric patients.
Nestor Jaramillo, Jr., President and CEO of Nuwellis, expressed excitement about the patent allowance, emphasizing the company's commitment to innovation and the development of a robust intellectual property portfolio. He highlighted that the technology will enable healthcare providers to adapt treatment plans for improved patient care and outcomes, especially for critically ill children and neonates.
Nuwellis is currently working on a fully integrated pediatric CRRT device to provide specialized care for infants and children with compromised kidney function. The project is partially funded by a $1.7 million grant from the National Institutes of Health (NIH), with Minneapolis-based Koronis Biomedical Technologies Corporation (KBT) collaborating on the design and development.
The company is known for its Aquadex SmartFlow® system, which offers ultrafiltration therapy for patients suffering from hypervolemia, or fluid overload. The system is indicated for both adult and pediatric patients over 20 kg and must be administered by a trained healthcare provider.
This recent development is part of Nuwellis' broader mission to create life-saving technologies tailored to the unique needs of pediatric patients. The information is based on a press release statement from Nuwellis, Inc.
InvestingPro Insights
In light of Nuwellis Inc (NASDAQ:NUWE).'s recent announcement regarding their pediatric CRRT device, Vivian™, it's important for investors to consider the company's financial health and market performance. According to real-time data from InvestingPro, Nuwellis holds a market capitalization of just 2.02 million USD, indicating that it is a micro-cap stock, which often means it could be subject to higher volatility and risk. Despite this, the company's cash position appears strong, as one of the InvestingPro Tips notes that Nuwellis holds more cash than debt on its balance sheet, potentially providing a buffer against operational uncertainties.
However, investors should be aware of the company's challenges as well. The stock is currently trading near its 52-week low, and the price has fallen significantly over the past year, as reflected by a 97.12% drop in one-year price total return. This aligns with another InvestingPro Tip highlighting that the stock has fared poorly over the last month. Additionally, the company's operating income margin for the last twelve months as of Q4 2023 stands at -198.89%, emphasizing operational difficulties. Nuwellis is also not expected to be profitable this year, which could be a concern for potential investors looking for near-term returns.
For those interested in a deeper dive into Nuwellis' financials and market performance, InvestingPro offers additional insights. There are 15 more InvestingPro Tips available, which could provide a more comprehensive understanding of the company's position. For those looking to access these insights, remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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