NeuroOne Medical Technologies Corporation has reported financial results for the first quarter of fiscal year 2026, showing accelerating adoption of its medical technology platform for treating neurological disorders. The company expects product revenue of at least $10.5 million for fiscal year 2026, representing an increase of at least 17% compared to the previous year.
The importance of this development lies in the expanding clinical applications of NeuroOne's technology, particularly for patients suffering from debilitating neurological conditions. Nearly 50% of all ablations performed since the OneRF Ablation System product launch in 2024 occurred in the first quarter of fiscal 2026, demonstrating growing physician adoption and real-world implementation of this technology.
Following FDA 510(k) clearance for the OneRF Trigeminal Nerve Ablation System to treat facial pain, the company has successfully completed nine cases to date, with all patients reportedly pain free. This represents a completely new market for NeuroOne and offers alternatives to pharmaceutical and invasive surgical treatments for facial pain conditions like trigeminal neuralgia.
The company is advancing discussions with potential tier-one strategic partners for multiple systems, including the OneRF Trigeminal Neuralgia Ablation System for facial pain, Basivertebral Nerve Ablation System for lower back pain, and percutaneous paddle lead for lower back pain. All of these would represent completely new markets for the company, potentially expanding treatment options for millions of patients suffering from chronic pain conditions.
NeuroOne has continued expansion of its intellectual property portfolio in the U.S. and Europe by securing key patents that protect and expand the company's platform technology. The patent portfolio now includes 13 issued and pending patents in the U.S., as well as 4 internationally, providing competitive protection as the technology expands into new applications.
The company's drug delivery system is targeting to be commercially available for use in investigational clinical studies or animal studies in Q3 fiscal 2026 due to expedited progress. This system focuses on glioblastomas (brain tumors), gene and cell-based therapies, potentially offering new treatment approaches for aggressive cancers.
For the spinal cord stimulation percutaneous paddle lead program, the company is initiating a 6-month animal study in the second quarter of fiscal 2026 in preparation for first-in-man study. The system was displayed and papers were presented at the Business of Pain Meeting and NANS meetings, indicating growing professional interest in this technology.
Product revenue was $2.9 million in the first quarter of fiscal 2026, compared to product revenue of $3.3 million in the first quarter of fiscal 2025. The slight decrease was due to the initial stocking order from Zimmer, which occurred in the first quarter of fiscal 2025. On a sequential basis, product revenue increased 5.5%, compared to $2.7 million in the fourth quarter of fiscal 2025.
As of December 31, 2025, the company had cash and cash equivalents of $3.6 million, compared to $6.6 million as of September 30, 2025. NeuroOne believes it is funded through fiscal 2026, potentially longer if certain milestones are hit. The company had no debt outstanding as of December 31, 2025.
The expansion of NeuroOne's technology into new treatment areas represents significant potential for improving patient outcomes across multiple neurological conditions. The company's progress in treating facial pain with reportedly successful outcomes suggests growing clinical validation of their approach. For more information about the company's technology platform, visit nmtc1.com.
