ClearPoint Neuro(CLPT) - 2023 Q1 - Quarterly Report

Financial Performance - The cumulative deficit of the company reached $156.0 million as of March 31, 2023[41] - Cash used in operations was $5.7 million for the three months ended March 31, 2023, and $16.2 million for the year ended December 31, 2022[41] - The allowance for credit losses was $0.3 million as of March 31, 2023, compared to $0.1 million as of December 31, 2022[52] - The outstanding principal under the First Closing Note was $10 million as of March 31, 2023, with an interest rate of 7.1%[257] - The company has financed its operations primarily through the sale of equity securities and issuance of notes payable, with no assurance of favorable terms in the future[41] Product Development - The company received 510(k) clearance for the ClearPoint Prism Neuro Laser Therapy System in September 2022, marking its first therapy product for commercialization[40] - The ClearPoint Array Neuro Navigation System was introduced in 2021 and is designed for use in both operating rooms and MRI suites[40] - The company has engaged over 50 pharmaceutical and biotech companies in the evaluation of its SmartFlow cannula[40] Operational Capacity - The company has sufficient cash and cash equivalents to support operations for at least the next twelve months[41] - The company has a sublease for its corporate headquarters in Solana Beach, California, expiring on December 31, 2026[60]