Healthcare firm Heartflow's IPO filing discloses wider loss
The U.S. IPO market is recovering from months of sluggish activity triggered by trade policy uncertainty under President Donald Trump. Both Omada, a virtual healthcare provider, and cancer diagnostic firm Caris Life Sciences saw strong investor reception when they debuted last month.
Mountain View, California-based Heartflow posted a loss of $32.3 million for the three months ended March 31, compared with a loss of $20.9 million a year earlier, the IPO filing showed.
Its revenue was $37.2 million for the quarter, compared with $26.8 million a year ago.
Proceeds from the IPO will be used to pay down debt, fund sales and marketing, research and product development activities and other general corporate purposes, the company said.
Heartflow develops an artificial intelligence-powered heart imaging tool, which creates personalized 3D models of the organ, helping doctors detect blockages, minimize unnecessary testing and optimize treatment.
The company will list on the Nasdaq under the symbol "HTFL".
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
17 minutes ago
- Business Standard
Decoded: What are stablecoins, and why is the US regulating them?
On July 18, United States (US) President Donald Trump signed the GENIUS Act—Guiding and Establishing National Innovation for US Stablecoins—introducing America's first federal framework for dollar-pegged cryptocurrencies. The act mandates full reserve backing in liquid assets, monthly audits, and stronger consumer safeguards. While signing the act into law, Trump said that it creates "a clear and simple regulatory framework to establish and unleash the immense promise of dollar-backed stablecoins". He further stated that the act "could be perhaps the greatest revolution in financial technology since the birth of the internet itself". What are stablecoins? Stablecoins are digital assets, which means they have a value attached to them and can be used for transactions. They are designed to maintain a stable value relative to a specific reference asset, like a fiat currency such as the US dollar. Unlike cryptocurrencies, which experience significant price fluctuations due to speculation and limited supply mechanisms, stablecoins intend to provide price predictability. What backs stablecoins? Stablecoins can be broadly categorised based on their collateral mechanisms. Each category presents a different method for maintaining price stability: 1. Fiat-collateralised stablecoins: These stablecoins are backed by reserves of fiat currency held in bank accounts or other arrangements. The most common examples—such as Tether (USDT) and USD Coin (USDC)—are pegged to the US dollar. For every unit of stablecoin issued, an equivalent amount in fiat currency is supposedly held in reserve. These stablecoins rely heavily on trust in the issuer and the auditing of reserve holdings. Concerns have been raised in the past regarding the transparency and adequacy of these reserves, prompting countries to explore regulatory frameworks for the same, like the GENIUS Act. 2. Crypto-collateralised stablecoins: These are backed by other cryptocurrencies, which are typically over-collateralised to account for price volatility. For example, DAI, a widely known decentralised stablecoin, is backed by Ethereum and other crypto assets held in smart contracts on the blockchain. Blockchain is a distributed digital ledger that records transactions in a secure way, allowing assets to be tracked across a network. Smart contracts are digital contracts stored on a blockchain that are automatically executed when predetermined terms and conditions are met. For example, DAI is liquidated when the value of the cryptocurrency backing it falls below a certain threshold. These are still exposed to the inherent volatility of the underlying crypto assets and may face issues during market stress. 3. Algorithmic (non-collateralised) stablecoins: Algorithmic stablecoins use mathematical formulas and incentive mechanisms to manage the coin supply and maintain a peg without relying on actual collateral. They automatically expand or contract the supply of tokens based on demand. TerraUSD (UST), which collapsed in 2022, was one such example. 4. Commodity-collateralised stablecoins: Some stablecoins are backed by physical commodities such as gold or silver. These include coins like PAX Gold (PAXG), where each coin represents ownership of a specific amount of physical gold held in reserve. Uses of stablecoins Stablecoins serve several purposes across retail, institutional, and decentralised finance sectors: Payments: Due to lower transaction fees and faster settlement times, stablecoins are increasingly used for cross-border transfers, particularly in regions with limited access to banking infrastructure. Stablecoins are also integral to decentralised finance platforms, where they serve as collateral for loans, liquidity provision, and decentralised exchanges. Hedging against volatility: Investors often convert volatile crypto holdings into stablecoins to preserve value during market downturns. Risks associated with stablecoins Despite their intended stability, stablecoins are not without risks. As their market capitalisation has grown, regulators and policymakers have raised several concerns. One of the most prominent concerns is whether stablecoin issuers actually hold sufficient, liquid, and accessible reserves to honour redemptions. Here's where legislation like the GENIUS Act steps in. It requires 100 per cent reserve backing with liquid assets like US dollars or short-term Treasuries and requires issuers to make monthly, public disclosures of the composition of reserves. According to the White House press release, "In the event of insolvency of a stablecoin issuer, the GENIUS Act prioritises stablecoin holders' claims over all other creditors, ensuring a final backstop of consumer protection". Alternatives to stablecoins As stablecoins gain popularity, several alternatives are being explored to address their risks and limitations—particularly by regulators and central banks. Central Bank Digital Currencies (CBDCs) are the most prominent alternative. Unlike stablecoins, CBDCs are issued by central banks and carry sovereign backing. They aim to offer secure, programmable digital payments without the volatility of crypto. India also has a CBDC backed by the Reserve Bank of India, known as the digital rupee or e-rupee. Tokenised deposits: These are digital versions of regular bank deposits issued on blockchain platforms, allowing instant settlement and integration with smart contracts. E-money and digital wallet balances, while not blockchain-based, are widely used. These are backed by fiat reserves and regulated under existing financial rules. As countries continue to shape regulatory frameworks and central banks explore digital alternatives, the journey ahead for stablecoins will likely depend on their ability to operate securely and transparently within the financial system.
Scroll.in
17 minutes ago
- Scroll.in
How climate change could make it harder for Indians to manage diabetes
Mumbai-based registered dietician and diabetes educator Shilpa Joshi faces a new conundrum. For more than two decades, she has been helping people living with diabetes navigate their diet and lifestyles as they manage the disease. However, in recent times, Joshi's patients are approaching her with challenges that are beyond the dietician's purview. 'It is raining in Mumbai and Pune now. In May, we experienced heavy rains and floods, and in March, people were suffering from heat exhaustion. With so many changes, it is difficult for patients to adhere to the diet and lifestyle protocols we recommend. Unseasonal rains have increased the price of most vegetables, and between the rains and the heat, physical activities, like walking, have become challenging. Not everyone can afford to go to gyms,' shares Joshi. The day-to-day challenges outlined by Joshi provide a brief window into the life of a person living with diabetes in India under the shadow of climate change. According to a 2024 study published in The Lancet, India is home to 212 million people suffering from the disease, the highest in the world. Further, there has also been a marked increase in the incidence of diabetes. Between 1990 and 2021, the prevalence of diabetes in India has gone up from 162.74 people to 264.53 people per 100,000 population. In the same period, mortality from the disease has also increased from 23.09 to 31.12 per 100,000 population. Globally, several studies have examined the links between climate change and diabetes, however data from the Indian subcontinent is lacking. A 2017 US-based study showed that diabetes incidence increased by 0.314 per 1000 people for every 1 degrees celsius rise in temperature. A 2019 study from Brazil showed that a 5 degrees celsius rise in daily mean temperatures led to a 6% increase in diabetes-related hospital admissions, primarily among the elderly. Similarly, a recent Kuwait-based study also found that hot days (>33 degrees celsius) contributed to an excess of 282 diabetic admissions annually. Climate change diabetes Among the most common non-communicable diseases in the world, diabetes or diabetes mellitus, refers to a group of metabolic disorders characterised by high blood glucose levels or hyperglycaemia. The disease is broadly classified into type 1 and type 2 diabetes, denoting inadequate insulin production (type 1) or a combination of inadequate production and poor response to the produced insulin (type 2). Other categories also include prediabetes, where individuals are at a high risk of developing the disease, and gestational diabetes, marked by the presence of the disease during pregnancy. Existing research indicates that climate change can have varying impacts on people living with the disease. In a review article, Ratter-Rieck et al show that extreme heat can increase the incidence of the disease. The article explains that it also affects the patient's response to heat stress due to impaired blood flow in the skin and abnormal sweating. Some studies mentioned in the review article point to increased hospital admissions, both in extreme heat and cold conditions, and additional impacts due to comorbidities as a result of kidney and cardiovascular issues. Apart from temperature-related impacts, studies show that extreme weather events can also cause long-term disruptions in the patient's health and impair glycaemic control, while increasing the risks for related complications. Researchers now also warn that climate change can increase the incidence of infections globally. Fuelled by changing temperatures, rainfall patterns, as well as changes in animal migration patterns and coastal water temperatures, experts caution that physicians must be prepared for an altered landscape where infections will be on the rise along with the emergence of new ones. This is particularly important for people living with diabetes, as the disease makes them more susceptible to infections. Diabetes is a risk factor for infectious diseases such as encephalitis, chikungunya, West Nile virus and dengue, and therefore, the impacts of climate change on disease risks of people living with diabetes warrants a separate focus. Lack of data While existing research shows that climate change can further complicate the pathophysiology of diabetes and its management in patients, significant gaps exist in our understanding of these interconnections, explains a review article by researchers from the US, UK, India and South Africa. Based on data from 73 peer-reviewed human studies, the article shows that the majority of the observations exists from the North American and Caribbean regions. The researchers did not find relevant studies from India in their review and noted that most of the studies focused on high-income countries. A 2023 study examining the links between air pollution and diabetes in two Indian cities, Chennai and Delhi, shows that both short and medium-term exposure to airborne particulate matter less than 2.5 micrometres in diameter, increases fasting plasma glucose levels and glycated haemoglobin (a measure of long-term blood sugar control). The study also shows that long-term exposure to air pollution increases the risk of developing the disease. Commenting on the lack of observations from India, Siddhartha Mandal, lead author of the study and senior research scientist at Ashoka University, explains that epidemiological studies of this nature are sparse in the country not just for diabetes, but for other conditions as well. With air pollution, for example, Mandal explains that lack of monitoring data hindered assessing exposure at the ambient level, and recent developments in satellite-based models have aided in reducing some of this gap. 'Climate change by itself encompasses air pollution, and it will have other systemic issues as well, such as changes in food and agricultural patterns. A one-degree change in temperature can set in motion several factors that may ultimately lead to the prevalence of diabetes. To study the combined effects of all these influences is a massive challenge. It is crucial to have quality health data to understand the impacts of these exposures and its outcomes,' explains Mandal. While there is some increase in awareness on the impacts of air pollution and climate change on human health, it will take a while for the existing evidence to be collated for policy-level interventions in India, explains Mandal. 'But, the efforts are ongoing,' he says. An evolving landscape In April 2025, the International Diabetes Federation, launched a working group to develop treatment recommendations and diagnostic criteria for a newly recognised category of diabetes called type 5 or Malnutrition Modulated Diabetes Mellitus. With chronic undernutrition during the early stages of life being a leading cause for this category, the International Diabetes Federation states that the disease is prevalent among teens and young adults in low and middle-income countries. Dr Nihal Thomas, senior professor of endocrinology at Christian Medical College, Vellore, and co-chair of the working group, explains that type 5 diabetes was first reported in 1955 in Jamaica and was later classified in 1985 by the World Health Organisation. However, lack of physiological evidence and misdiagnosis as type 1 or 2 led to the classification being removed in 1999. He adds that the renewed interest in type 5 diabetes is especially crucial for India. In a study of low birth rates among 44 low and middle-income countries, India had the third highest prevalence of low birth-weight births. The Global Hunger Index 2024 also states that 13.7% of India's population is undernourished, and 35.5% of children in the country under the age of five are stunted as a result of chronic undernutrition. 'If there is low birth weight followed by undernutrition during the developmental years, it is a double hit, increasing one's risk for type 5 diabetes,' explains Dr Thomas. He adds that while other metabolic processes also contribute to the disorder, the role of dietary factors is of significance here and the impacts of climate change in this regard needs further investigation. Several studies have highlighted the fact that climate change not only reduces agricultural productivity; it also diminishes the nutritional value of crops, thereby contributing to food insecurity and undernutrition. Dr Thomas adds that looking at the links between climate change, undernutrition and the prevalence of diabetes will require more representative data at scale, which is challenging to obtain. Furthermore, he also emphasises the need to understand these influences in urban and rural settings as they will lead to differences in the way the disease develops and progresses. 'While it is important to look at the links between diabetes and climate change, it is not that straightforward. If you list all the risk factors for type 2 diabetes, for example, you will find that every factor will be a confounder when you study the others. Diet assessments will also need to consider physical activity, and conducting accurate physical activity evaluations are very difficult. These studies need to be well-planned,' he adds. Adding to the discussion, Charles E Leonard, associate professor of epidemiology at the Perelman School of Medicine in Philadelphia, emphasises the need for granular data so personalised diabetes management can factor in the individual's environment. 'Focus on extreme temperatures has largely been limited to curbing excess physical activity and issues with storing insulin. So far, there has been very little specific focus on how unusually high or low ambient temperatures, for example, could impact diabetes treatment decisions,' he explains. Apart from data generation, Leonard also emphasises the need for healthcare providers to build awareness among their patients. 'Healthcare providers may wish to educate their patients on potential risks of environmental extremes – and how such events (eg, a heatwave) in the setting of their chronic disease could place them at a disproportionate risk for harm. Furthermore, they may also consider designing personalised preparedness plans such that patients know the appropriate actions to take to manage their diabetes during extreme weather events,' he adds.
The Hindu
17 minutes ago
- The Hindu
Super League Kerala signs five-year Rs 100-crore streaming rights deal with Sports.com
a part of the USA-based SEGG Media Group, has signed a five-year global partnership with Super League Kerala that could increase the football league's viewership in a big way. 'This is a Rs 100-crore deal and the contract is for five years. The global live streaming rights are now with Mathew Joseph, the CEO of the Super League Kerala (SLK), told Sportstar on Monday. 'This is also first entry into India; it will become the exclusive OTT platform for the SLK, and it will be free of cost. That is what we are more interested in,' he added. Joseph revealed that the deal, signed in Dubai, will also help build more content around the SLK, which attracted nearly 13 million viewers for its debut season last year. ALSO READ | VP Suhair set to join Jamshedpur FC ahead of Durand Cup 'They will also help us with content creation around the SLK which they have done globally for many sports…behind the scenes, they create a lot of interesting documentaries,' said Joseph. 'This deal represents a huge leap forward for the SLK. It allows us to amplify our reach across continents while delivering world-class fan engagement and streaming experiences to millions who love Kerala football,' said Firoz Meeran, Director, SLK. 'This is more than a sports rights deal. To enter the Indian market through Kerala, a State with an electrifying football culture and millions of global fans, gives us a high-growth, cash-yielding product to launch the app with force,' Firoz added. Related Topics Super League Kerala
