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ClearPoint Neuro Reports Fourth Quarter and Full Year 2024 Results

1. CLPT reported record revenue growth of 31% for 2024. 2. Operational cash burn reduced by 35%, enhancing financial stability.

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-1.6%S&P 500
$17.2202/26 04:15 PM EDTEvent Start
$14.20502/27 11:12 PM EDTLatest Updated
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FAQ

Why Very Bullish?

CLPT's consistent revenue growth and reduced cash burn demonstrate strong performance, similar to successful biotech firms like Vertex Pharmaceuticals, which thrived post strong earnings reports.

How important is it?

The significant revenue growth and reduced operational burn directly indicate financial health and future potential, making this news impactful for investors and analysts keeping an eye on CLPT.

Why Long Term?

Sustained revenue increase and operational efficiency likely to enhance investor confidence over time, analogous to Illumina's growth following consistent performance improvements.

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Achieved Record Revenue for 2024 and Growth of 31%; Reduced 2024 Operational Cash Burn by 35% SOLANA BEACH, CALIFORNIA / ACCESS Newswire / February 26, 2025 / ClearPoint Neuro, Inc. (Nasdaq:CLPT) (the "Company"), a global device, cell, and gene therapy-enabling company offering precise navigation to the brain and spine, today announced financial results for its fourth quarter and full-year ended December 31, 2024. 2024 Full Year and Fourth Quarter Highlights Reported fourth quarter 2024 revenue of $7.8 million, a 14% year-over-year increase compared with the fourth quarter of 2023; Reported revenue of $31.4 million for the full year 2024, an increase of 31% over 2023 and representing the tenth consecutive year of growth; Overall product revenue, including biologics and drug delivery, grew 76% to $18.6 million for the full year as a result of the SmartFrame OR™ platform and ClearPoint Prism® Laser Therapy System and partner progression in clinical trials; Activated six new global centers in the fourth quarter for a total of 25 new centers in 2024, approximately three times our historic activation rate; Continued patient enrollment in numerous cell and gene therapy trials for partners selected in FDA expedited review programs across multiple indications; Full early repayment of the principal amount and interest on a $10 million convertible note leaving the Company with no outstanding debt; Quarterly operational cash burn of $1.2 million, bringing total 2024 operational cash burn of $9.0 million, a reduction of 35% versus 2023; and Reported cash and cash equivalents totaling $20.1 million as of December 31, 2024.

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