Key Takeaways
Profusa Inc. (PFSA) on Tuesday announced its board has begun a formal review of strategic alternatives and has retained Tungsten Advisors as its exclusive financial advisor.
“The Board’s decision to evaluate strategic growth alternatives is intended to ensure a disciplined and proactive approach to scale, platform expansion and capital formation,” Ben Hwang, Chairman and Chief Executive Officer of Profusa, said in a statement.
The review will assess a range of options including asset-level transactions, partnerships, and business combinations. The company noted there is no assurance the process will result in a transaction. Shares were down 0.8% to $0.557 in recent trading.
The move comes as Profusa seeks to expand its biosensing and diagnostics footprint while managing capital needs. Investors will be watching for the outcome of the review, alongside near-term progress on European regulatory approval for its Lumee Oxygen platform.
Profusa said it is focusing resources on near-term milestones, primarily the European CE Mark approval for its Lumee Oxygen platform. The company has completed two required on-site audits with its European Notified Body, GMED, and expects the process to conclude in the third or early fourth quarter of 2026.
The company also provided an update on its April 21 asset purchase agreement to acquire know-how for the PanOmics Assay from Bio Insights LLC. The deal for the multi-omics analysis platform, used in drug discovery and precision medicine, is subject to stockholder approval.
The strategic review introduces significant uncertainty, with potential for a sale at a premium or the risk of no deal materializing. The next major catalysts will be any disclosures from the board's review and the final decision on the Lumee Oxygen platform's CE Mark application later this year.
This article is for informational purposes only and does not constitute investment advice.
