ClearPoint Neuro posted increases in revenue in its fourth quarter and full-year 2023, citing an uptick in sales related to customer-sponsored preclinical and clinical trials.
The company’s total revenue in the fourth quarter (end-December 31) was $6.8 million, up 32% from $5.2 million for the same period last year. The company’s biologics and drug delivery revenue increased 76% to $4.1 million for the quarter, up $2.3 million from the fourth quarter of 2022.
In addition, the company posted a total revenue of $24 million for full-year 2023, up from $20.6 million for full-year 2022. ClearPoint’s biologics and drug delivery revenue, which includes sales of disposable products and services related to customer-sponsored preclinical and clinical trials, increased 49% to $13.6 million for year-end 2023, up from $9.1 million in 2022.
