Know Labs bolsters R&D for non-invasive glucose monitor By Investing.com

In a recent earnings call, Know Labs reported a total revenue of $50,000 for the quarter, primarily from research and development contracts. This marks a continuation of their investment in the development of their non-invasive glucose monitoring device, the KnowU.

The company ended the quarter with $8.5 million in cash and cash equivalents. A new funding agreement with Lind Global Fund II LP promises an investment of up to $12 million to accelerate the company’s development across four core work streams and to reinforce the team. The company has made strides in testing their Gen 1 and Gen 2 devices for glucose monitoring and is engaging with the FDA for future clinical trials.

Key Takeaways

• The company’s total revenue for the quarter was $50,000, primarily from R&D contracts.
• The quarter ended with $8.5 million in cash and cash equivalents.
• A funding agreement with Lind Global Fund II LP will provide up to $12 million in investment.
• Chris Somogyi has been introduced as President International to focus on licensing and partnerships.
• The company is progressing in testing their glucose monitoring technology and engaging with the FDA for clinical trials.

Company Outlook

• Know Labs is focused on commercializing the KnowU, a non-invasive glucose monitoring device.
• They are planning to attend more conferences in the diabetes space to showcase their technology.
• The company is working on monetizing their intellectual property and securing strategic development partnerships.

Bearish Highlights

• The company reported an operating loss of $4.73 million in Q2 fiscal 2024, though it was an improvement over the previous year.

Bullish Highlights

• The progress in the development of Gen 1 and Gen 2 devices shows satisfactory performance and significant advancements.
• The company holds 332 patents in 18 jurisdictions and a large number of trade secrets, indicating strong intellectual property assets.

Misses

• There are no specific misses mentioned in the provided context.

Q&A Highlights

• The company discussed their patent assets and the importance of work-life balance for employees.
• Engagement with the FDA has begun, with plans for a pre-submission meeting in fiscal year ’24.

The company’s commitment to research and development is evident in its continued investment in their glucose monitoring technology and the hiring of Chris Somogyi as President International. With a robust patent portfolio and the…