Cardio Diagnostics Holdings, Inc. reported its financial results for the third quarter of 2024, disclosing a net loss of US$1.41 million. This figure reflects the ongoing investment phase of the early-stage biotechnology company.
The reported net loss indicates the company's continued unprofitability as it focuses on developing and commercializing its AI-driven precision cardiovascular medicine tests. Investors monitor these losses to understand the company's capital needs and operational efficiency.
While specific revenue figures were not detailed in the available information, the reported net loss underscores the company's high burn rate. This financial performance is a key indicator for stakeholders evaluating the company's progress towards sustainable operations.
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