From GlobeNewswire: 2024-05-16 08:42:00

ProSomnus, Inc. reported first quarter revenue of $7.5 million, a 28% increase from the previous year. The company’s RPMO2 device is set for final clinical testing before FDA submission in June 2024.

ProSomnus voluntarily filed for Chapter 11 bankruptcy on May 7 to reduce debt, secure new capital, and continue normal operations. The restructuring plan aims to alleviate financial strain and maintain high quality service for customers.

ProSomnus is a leading provider of non-CPAP therapy for obstructive sleep apnea, a condition affecting over 1 billion people worldwide. Their FDA-cleared devices are covered by major insurance plans and have demonstrated efficacy and safety in clinical trials.

Forward-looking statements outline ProSomnus’ expectations post-restructuring, noting risks such as liquidity and business impact. The company is focusing on completing the restructuring process successfully while maintaining relationships with key stakeholders.

Contact information for investors and media inquiries:
Investor Contact: Mike Cavanaugh, ICR Westwicke, Phone: +1.617.877.9641, Email: [email protected]
Media Contact: Heather Whalen, ProSomnus, Phone: +1.925.360.2990, Email: [email protected].



Read more at GlobeNewswire:: ProSomnus Announces Strong First Quarter 2024 Revenue