Nuheara Ltd [ASX:NUH]’s previous announcement couldn’t stop the share price dropping four points this morning. At time of writing, the current share price is $0.084 apiece.
An Australian owned company, Nuheara is primarily focused on augmented hearing technology. They are particularly invested in wearable hearing aids which are similar to modern earphones, a trend the company clearly believes will continue into the future. The company’s primary product, IQbuds, are hearing buds which are designed to adapt to an individual’s hearing profile.
What’s new for Nuheara?
Nuheara’s share price has taken a slight detour from yesterday’s success, when the company share price climbed over 10% to sit at 8.7 cents. This was likely a direct result of yesterday’s announcement that Nuheara had successfully raised $5 million in equity raising.
According to Nuheara, this raise in equity will also be used to design and manufacture new products (including their IQStream TV service and IQbuds MAX), as well as advanced sales and marketing for existing hearing aids (such as the IQbuds, which will soon be introduced on the UK NHS in 2019).
But what does this all mean for the company outlook?
Not much, to be honest. Given the increasing development of these products and the gradual interest from the medical community, it’s fair to say that these new kinds of wearable hearing aids are a clever solution to a growing problem, with the added benefit that they could become popular in time. As Nuheara say on their website:
‘Hearing loss is set to be the new diabetes. In a recent report the World Health Organization (WHO) estimated that around 1.1 billion young people under the age of 30 are at serious risk of hearing loss because of their levels of sound exposure.’
Despite today’s fall back, shareholders don’t appear to be worried about Nuheara’s future — at least in the short term.
Given the current state of hearing loss in developed countries, as well as the continuing trends in augmented tech, it seems the only thing Nuheara would have to worry about is competition from similar ideas about wireless hearing technology.
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