- NeuroOne Medical Technologies Corporation (NMTC +9.9%) is trading higher after the company announced that the FDA granted the 510(k) clearance to market its Evo sEEG Electrode technology for temporary use to record/monitor/simulate electrical signals at the subsurface level of the brain.
- The regulatory nod allows the company to market the technology for temporary use in combination with recording, monitoring, and simulation equipment for recording, monitoring, and stimulation of electrical signals at the subsurface level of the brain.
- Evo sEEG Electrode is the company’s second FDA 510(k) cleared product giving the company a full line of electrode technology that can open a potential market opportunity of $100M in patients with the need for diagnostic brain mapping procedures.
- “The next steps for the Company are to expand the sEEG labeling for longer-term use,” remarked CEO Dave Rosa.
Read more on upcoming milestones laid out by NeuroOne Medical (NASDAQ:NMTC) with its earnings release for Q3 fiscal 2021.