Brief: Nephros Announces Agreement To Sell Pathogen Detection Systems Business

Nephros

11/10/2022 12:39

Oct 11 (Reuters) - Nephros Inc  NEPH.O :
    * NEPHROS ANNOUNCES AGREEMENT TO SELL PATHOGEN DETECTION
SYSTEMS
BUSINESS AND  PRELIMINARY RESULTS FOR QUARTER ENDED SEPTEMBER
30, 2022
    * NEPHROS INC - SALE REDUCES CASH BURN, INCLUDES SEVEN-YEAR
EARN-OUT PROVISION
    * NEPHROS INC - Q3 REVENUE EXPECTED TO BE APPROXIMATELY $2.5
MILLION
    * NEPHROS INC - Q3 REVENUE EXPECTED TO BE APPROXIMATELY $2.5
MILLION;ACTIVE CUSTOMER SITES INCREASE 18% YOY
    * NEPHROS INC - EXPECT SALE TO REDUCE OUR EXPENSES BY
APPROXIMATELY $350,000 PER QUARTER
    * NEPHROS INC - ENDED Q3 WITH APPROXIMATELY $3.9 MILLION IN
CASH
ON A CONSOLIDATED BASIS
    * NEPHROS INC - CO TO ACHIEVE POSITIVE NET CASH FLOW IN
MID-2023

Source text for Eikon:  ID:nGNX2F0Z16 
Further company coverage:  NEPH.O 
 ((Reuters.Briefs@thomsonreuters.com;))