Envoy Medical Reports Fourth Quarter and Full Year 2023 Financial Results
WHITE BEAR LAKE, Minn., April 02, 2024 (GLOBE NEWSWIRE) -- Envoy Medical®, Inc. (“Envoy Medical”) (Nasdaq: COCH), a revolutionary hearing health company focused on fully implanted hearing devices, today announced its corporate and financial results for the fourth quarter and full year ended December 31, 2023.
- Completed Business Combination transaction at the end of September and began trading on Nasdaq under its own ticker, COCH, the first week of October 2023.
- Early Feasibility Study (EFS) continues to meet milestones with all three implanted patients surpassing twelve-month post-activation visits remaining implanted.
- Sales and marketing expenses increased $0.8 million for the year ended December 31, 2023 compared to the same period in 2022.
- The increase is primarily due to a $2.8 million rise in professional and legal fees in 2023 related to the finalization of the Business Combination in the third quarter of 2023.