Movano Q1 net loss $6.9M; validates SoC for glucose, BP; beta on track for 2H 2022

Corvex, Inc.

2023-Q1 EPS reported -$0.21

Net loss of $6.9M ($0.21/share) vs $8.1M ($1.01/share) in Q1 2021; operating loss $6.9M.
Cash and investments $27.7M as of Mar 31, 2022, down from $33.6M at Dec 31, 2021.
Validated proprietary mmWave SoC for non-invasive glucose and cuffless blood pressure monitoring.
Hired go-to-market leadership team; added Nan Kirsten Forte to Board; plans limited beta release in 2H 2022.
No revenue generated; company remains development stage with R&D focus.

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