ClearPoint Neuro Announces Early Redemption of $10 Million Bond

SOLANA BEACH, Calif., Aug. 26, 2024 (GLOBE NEWSWIRE) — ClearPoint Neuro, Inc. (Nasdaq: CLPT) (the “Company”), a global device, cell and gene therapy company that provides precision navigation to the brain and spine, today announced that on August 23, 2024, it has prepaid in full the principal and interest on a $10 million convertible note held by PTC Therapeutics Inc., which under its terms would have matured in January 2025. The convertible note was issued by the Company pursuant to a financing transaction that closed in January 2020.

“PTC has been and continues to be a strong partner of ClearPoint Neuro. The early repayment of our convertible note demonstrates how both companies continue to work together to achieve a desired outcome,” said Joe Burnett, President and CEO of ClearPoint Neuro. “This early repayment underscores the confidence we continue to have in our business and achieves the very important financial and strategic goal of eliminating all debt from our balance sheet in a manner that avoids further dilution. PTC continues to have ClearPoint Neuro’s full support for the submission of the Biologics License Application to the FDA for Upstaza (eladocagene exuparvovec), an investigational treatment for AADC deficiency currently under priority review by the agency, and we are pleased to continue working with PTC.”