NDRA - Endra Life Sciences raises $8.7M YTD from common stock sale through ATM equity facility

Endra Life Sciences (NASDAQ:NDRA) raised $8.7M year-to-date from the sale of common stock through its at the market, or ATM, equity facility. Pursuant to its ATM equity offering sales agreement with Ascendiant Capital Markets, the company sold ~20.6M shares at an average price of $0.42/share. "Our significantly bolstered cash position is expected to fund operations through several important milestones, including ramping our commercial activities in Europe and advancing the TAEUS system through the regulatory process in the U.S." NDRA CEO Francois Michelon said. TAEUS is a technology that was initially focused on the measurement of fat in the liver as a means to assess and monitor Non-Alcoholic Fatty Liver Disease and inflammation, but the company is exploring several other clinical applications of the technology. As of December 31, 2021, the company had cash and cash equivalents of $9.5M and 50.4M fully diluted shares outstanding.

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Endra Life Sciences raises $8.7M YTD from common stock sale through ATM equity facility