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WATT - Energous: Change In Senior Management Is Unlikely To Change Its Fortunes
Energous Corporation
Energous' revenues have improved sequentially recently, but still remain a fraction of its expenses.
Energous announced the departure of its CEO and CFO.
These changes will likely not result in a major upgrade of its outlook.
Cash burn of approximately $25 million per year should result in an equity offering in early 2022 when its cash balance is projected around $20 million.