ENDRA Life Soars 35% As It Moves Towards Getting CE Mark For TAEUS Liver Device

(RTTNews) - ENDRA Life Sciences Inc. (NDRA) achieved a major step toward commercialization of TAEUS FLIP device on Thursday by submitting its Technical File for CE Mark review to its Notified Body.

The Company's investigational Thermo-Acoustic Enhanced UltraSound (TAEUS) system is designed to help clinicians to visualize tissue function, composition, and monitor a variety of therapeutic interventions at the point of care. The first TAEUS application is focusing on the quantification of fat in the liver, for early detection and monitoring of Non-Alcoholic Fatty Liver Disease.

ENDRA Life anticipates receiving CE Mark for the TAEUS FLIP device in the first half of 2020, with the subsequent commercialization expected to commence in Europe in mid-2020.

The net loss incurred in Q3 2019 by ENDRA widened to $3.4 million or $0.46 per share from $2.8 million or $0.70 per share in Q3 2018.

The Company ended September 30, 2019, with cash of $2.3 million, and zero long-term debt outstanding.

NDRA has traded in a range of $0.62 to $3.48 in the last 52 weeks. The stock closed Thursday's trading at $1.35, up 35.92%. In after-hours, the stock gained another 2.99% and was at $1.39.