Movano Health Q1 Loss Widens

(RTTNews) - Movano Inc. (MOVE), a healthcare solution provider, Monday reported a wider loss for the first quarter of 2023.

The company reported first-quarter net loss of $7.1 million compared to a loss of $6.9 million for the same period last year.

The loss per share decreased to $0.19 per share from $0.21 per share due to higher number of shares outstanding this quarter.

The company announced that they will launch Evie Ring, a device used to measure heart rate and blood oxygen saturation, in September for $269 with no subscription.

Movano Health plans to launch Evie Ring as a wellness device if it has not received the FDA's decision by the launch date and then transition it to a medical device later on.

MOVE is currently trading at $1.2600, up $0.0300 or 2.44%, on the Nasdaq.