andresr/E+ via Getty Images
Developer: Medtech NeuroOne Medical Technologies (Nasdaq: NMTC) have applied for market approval from the US Food and Drug Administration for their OneRF Ablation System for recording brain activity and tissue ablation.
Shares of NeuroOne rose 9% to approximately $1.34 12:00 p.m. ET.
NeuroOne said the system is the company’s first to include its proprietary hardware, software, and electrode technology. The system uses an implanted sEEG electrode to record brain activity and can be used as an RF or radio frequency probe to ablate nerve tissue in the brain.
medtech expects to receive feedback from the Food and Drug Administration on its application no later than August 7.
More about NeuroOne:
NeuroOne Medical Technologies Corporation (NMTC) Q2 2023 Earnings Call Results
NeuroOne Medical Technologies GAAP EPS – $0.21 wasted by $0.01, revenue of $0.47M beats $0.22M
