Full Press Release Details
ClearPoint Neuro Reports Fourth Quarter and Full Year
2021 Preliminary Revenue Results and Guidance for Full Year 2022 Revenue
Company to Hold Earnings Call on March 1, 2022
SOLANA BEACH, CA, February 15, 2022 - ClearPoint Neuro, Inc. (Nasdaq: CLPT)
(the "Company"), a global therapy-enabling platform company providing navigation and delivery to the brain, today announced
preliminary, unaudited financial results for its fourth quarter and full year ended December 31, 2021. The Company also announced that
its earnings call will take place on Tuesday, March 1, 2022, after the market close.
Fourth Quarter 2021 Revenue Highlights
Full Year 2021 Revenue Highlights
"As we close the books on 2021, we reflect on a tremendous
year for the Company as we have continued to execute and make progress across our four-pillar growth strategy," commented Joe Burnett,
President and CEO of ClearPoint Neuro. "Overall, we achieved record revenue and case volume across all of our segments including
functional neurosurgery, biologics and drug delivery and capital and service. We also met our initial guidance for both revenue and case
volume despite multiple disruptions to elective procedures caused by the Delta and Omicron variants."
"We continue to manage the business appropriately during
these uncertain times caused by the pandemic and will use our existing capital to balance growth with thoughtful spending. Our current
cash position entering 2022 is $54.1 million and we do not at present feel the need for additional capital at any time in 2022. We have
a unique product offering at a special time and will continue to invest and innovate in the neurosurgical space. If you add up all the
different patient indications where we plan to participate using our platform supporting Biologics, Deep Brain Stimulation, Brain-Computer-Interfaces,
and laser ablation, the total amounts to 35 different patient populations. In the United States alone, this represents approximately one
million new patients diagnosed each year across these various indications who could one day benefit from treatments utilizing the ClearPoint
Investors and analysts are invited to listen to a live broadcast
review of the Company's fourth quarter and full year 2021 financial results on Tuesday, March 1, 2022 at 4:30 p.m. Eastern time (1:30
p.m. Pacific time) which may be accessed online here: https://themediaframe.com/mediaframe/webcast.html?webcastid=ZSukJDu1.
Investors and analysts who would like to participate in the conference call via telephone may do so at (877) 407-9034, or at (201) 493-6737
if calling from outside the U.S. or Canada.
For those who cannot access the live broadcast, a replay will
be available shortly after the completion of the call until Thursday, March 31, 2022 by calling (877) 660-6853, or (201) 612-7415 if calling
from outside the U.S. or Canada, and then entering conference I.D. number 413671. An online archive of the broadcast will be available
on the Company's website at www.clearpointneuro.com, on the "Investor Relations" page.
About ClearPoint Neuro
ClearPoint Neuro's mission is to improve and restore
quality of life to patients and their families by enabling therapies for the most complex neurological disorders with pinpoint accuracy.
Applications of the Company's current product portfolio include deep brain stimulation, laser ablation, biopsy, neuro-aspiration,
and delivery of drugs, biologics, and gene therapy to the brain. The ClearPoint Neuro Navigation System has FDA clearance,
is CE-marked, and is installed in approximately 60 active sites in the United States, Canada, and Europe. ClearPoint Neuro is partnered
with approximately 40 biologics/pharmaceutical companies and academic centers, providing solutions for direct CNS delivery of therapeutics
in pre-clinical studies and clinical trials worldwide. To date, more than 5,000 cases have been performed and supported by the Company's
field-based clinical specialist team, which offers support and services to our customers and partners. For more information, please visit
Forward-Looking Statements
Statements herein concerning the Company's plans, growth
and strategies may include forward-looking statements within the context of the federal securities laws. Statements regarding the Company's
future events, developments and future performance, as well as management's expectations, beliefs, plans, estimates or projections relating
to the future, are forward-looking statements within the meaning of these laws. Uncertainties and risks may cause the Company's actual
results to differ materially from those expressed in or implied by forward-looking statements. Particular uncertainties and risks include
those relating to: the impact of the COVID-19 pandemic and the measures adopted to contain its spread; future revenue from sales of the
Company's ClearPoint Neuro Navigation System products; the Company's ability to market, commercialize and achieve broader
market acceptance for the Company's ClearPoint Neuro Navigation System products; and risks inherent in the research and development
of new products. More detailed information on these and additional factors that could affect the Company's actual results are described
in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2020, and
the Company's Quarterly Report on Form 10-Q for the three months ended September 30, 2021, both of which have been filed with the
Securities and Exchange Commission, and the Company's Annual Report on Form 10-K for the year ended December 31, 2021, which the
Company intends to file with the Securities and Exchange Commission on or before March 31, 2022.
Danilo D'Alessandro, Chief Financial Officer
Caroline Corner, Investor Relations