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Calmare Therapeutics, Inc. (CTTC)
Calmare Therapeutics, Inc. (the Calmare Pain Mitigation Therapy™ company) researches, develops, and commercializes chronic, neuropathic pain, and wound affliction devices. Calmare devices sell commercially to medical practices globally. Moreover, they are found in U.S. military hospitals, clinics, and on installations through the company's General Services Administration (GSA) military contract (V797P-4300B). Calmare Therapeutics has licensed over 500 technologies to more than 400 individual organizations. Calmare Therapeutics is based in Fairfield, Connecticut.
The company's medical devices provide a non-pharmacological (no drugs), non-addictive (no narcotics) and non-invasive (over the skin) solution to chronic pain sufferers in an outpatient treatment setting. Calmare supplements its medical devices with a catalogue of private label neurostimulation and sensory electrodes.
Calmare creates partnerships with its clients and customers to maximize their Intellectual Property (IP) assets, reduce time-to-market, and add to their profitability. The company's Technology Sourcing Service looks for technologies that fit with customer business goals and presents them as potential licensing or IP acquisition candidates.
Calmare Therapeutics has been a preferred vendor of the U.S. federal government (GSA#V797P-4300b) since 2010. Devices, consumables and related hardware sell to U.S. military hospitals and clinics throughout the U.S. The company sells its devices in Europe under CE-mark designation.
The company's flagship medical device is the Calmare® Pain Therapy Device. This is the world's only non-invasive and non-addictive modality that can successfully treat chronic, neuropathic pain. Calmare Therapeutics holds a U.S. Food & Drug Administration (FDA) 510k clearance designation (K081255) on its flagship device. This grants it the exclusive right to sell, market, research, and develop the medical device in the U.S.
Regarding CALMARE® Pain Therapy Treatment, the device is FDA-cleared for U.S. sales, U.S. patented and patent pending in other countries, and medically certified in Europe. The Calmare® Pain Therapy Device treats oncologic and neuropathic pain via a biophysical rather than biochemical approach.
In January 2017, Calmare Therapeutics reported results for the three-months and nine-months ended September 30, 2016. Revenues from the commercial sale and shipment of Calmare® pain therapy devices for the three months ended September 30, 2016 were $465,000, versus $197,000 for the three months ended September 30, 2015.
Net loss for the three months ended September 30, 2016 was $648,000 or $0.02 per basic and diluted share, versus a net loss of $1,063,000 or $0.04 for the three months ended September 30, 2015.
Revenues from the commercial sale and shipment of Calmare® pain therapy devices for the nine months ended September 30, 2016 were $716,000, versus $405,000 for the nine months ended September 30, 2015. Net loss for the nine months ended September 30, 2016 was $2,638,000 or $0.09 per basic and diluted share, versus a net loss of $2,846,000 or $0.10 for the nine months ended September 30, 2015.
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