Operating expenses increased to $3.3M in the fourth quarter of 2022 from $3.1M in the same period in 2021. The increase was primarily due to ongoing product development, the company said. "We are working closely with our global clinical evaluation partners to generate the most robust data for our De Novo request. We are pleased to have deployed our interactive guidance tool to facilitate the ease of use for clinicians. As a result, we are seeing improved intra-operator performance and reliability in TAEUS measurements. These data are essential for a successful U.S. regulatory submission, as well as to support our commercialization efforts in Europe. There is a growing unmet clinical need for cost-effective diagnostic tools to identify and monitor patients who have liver disease at the point of care. We strongly believe the TAEUS system has the ability to measure liver fat at the earlier stages of NAFLD, when it is still reversible, and potentially improve the health of millions of people," stated Francois Michelon, Chairman and CEO of ENDRA.
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