Sign in

PFSA on Nasdaq

Profusa, Inc.

Profusa, Inc. is an American surgical and medical instruments and apparatus company.1 It is headquartered in New York, New York.1 Its shares trade on Nasdaq under the symbol PFSA.1

Price unavailable

Last updated Oct 21, 2026.

Overview

Compare with Fractyl (United States), Microbot Medical Inc. or PAVmed Inc., or pick any stock.

  • TickerPFSA on Nasdaq1
  • IndustrySurgical & Medical Instruments & Apparatus1
  • HeadquartersNew York, New York1
  • Incorporated inDE2
  • Business address207 West 25Th St, 9Th Floor, New York, Ny 100012
  • Filer category, Emerging growth company2

See how the biggest companies compare on our leaderboards

“decoupling the sensor and the reading elements,” we believe that our approach has a few major advantages:4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-4500.0%Operating margin5
-9230.0%Net margin5

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Research and development95¢$1.6M
  • Income tax5¢$80.5K

Out of $100.0K in revenue.56 The company lost money this year.

Financial statements

Operating income765-$4.5M in 2024+254% since 2022
-$6.0M-$4.0M-$2.0M02022: -$1.3M-$1.3M20222023: -$1.5M-$1.5M2023+19%2024: -$4.5M-$4.5M2024+198%
Net income765-$9.2M in 2024
-$10.0M-$5.0M0$5.0M$10.0M2022: $7.2M$7.2M20222023: $1.2M$1.2M2023−84%2024: -$9.2M-$9.2M2024

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Government grant revenue$100.0K
Research and development$2.8M$1.6M
General and administrative$24.9M$3.0M
Total operating expenses$27.7M$4.6M
Loss from operations-$27.7M-$4.5M
Loss on change in the fair value of convertible notes-$3.4M-$311.0K
Gain on the change in fair value of warrant liabilities$895.0K
Loss on the change in fair value of digital assets-$555.0K
Interest expense (including related parties amounts of $1,330 and $2,400 for the years ended December 31, 2025 and 2024, respectively)-$2.5M-$4.4M
Financing costs-$2.6M
Other income$16.0K$5.0K
Total other expense, net-$8.1M-$4.7M
Net loss-$35.8M-$9.2M
Net loss per share, basic (in Dollars per share)-$107.01-$357.14
Net loss per share, diluted (in Dollars per share)-$107.01-$357.14
Weighted-average common shares outstanding, basic (in Shares)334.8K shares25.8K shares
Weighted-average common shares outstanding, diluted (in Shares)334.8K shares25.8K shares
Interest expense, related parties$1.3M$2.4M

Compare Profusa, Inc. with another company

Corporate structure

Profusa, Inc. sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Profusa, Inc.

  • Profusa, Inc. New York, New York
    • New Profusa, Inc. Subsidiary · California, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Profusa, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$8.0K5 Dec 31, 2025

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.8M5 Dec 31, 2025$191.0K5 Dec 31, 2024+830.9%
Deposits held (banks)$34.4K6 Dec 23, 2024

Properties, in its own words

Our material facilities consist of leased office and laboratory space at 626 Bancroft Way, Suite A, Berkeley, CA. Our lease term over this property expires in 2027. Concurrently, we have entered into six months sublease agreements as a sublessor for a portion of the space that we lease with our landlord.

We believe that these facilities are suitable and adequate for our current needs.

Item 2 of the 10-K filed Apr 15, 2026.4

Leadership

Who has led Profusa, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Jack E. Stover2021–2025
  2. Ben Chung-Bin Hwang2025–now

Chief financial officer

  1. Fred S. Knechtel2021–now
2025
Board members and other officers (6)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • New Profusa, Inc. California3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • NorthView Acquisition CorpJun 17, 2021 to Jul 15, 20252

Timeline

  1. Oct 15, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares17
  2. Oct 9, 20268-K Change of auditor18
  3. Oct 5, 20268-K Entered a material agreement; New debt or obligation19
  4. Sep 21, 20268-K Shareholder vote20
  5. Sep 16, 20268-K Entered a material agreement; New debt or obligation21
  6. Sep 15, 20268-K Other events22
  7. Sep 1, 20268-K Entered a material agreement; New debt or obligation23
  8. Aug 31, 20268-K Listing notice or transfer24
  9. Aug 21, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares25
  10. Aug 20, 20268-K Results of operations26
  11. Aug 14, 20268-K Change to shareholders' rights; Bylaws or fiscal year changed; Other events27
  12. Jul 31, 20268-K Entered a material agreement; Unregistered sale of shares; Bylaws or fiscal year changed28
  13. Jul 21, 2025New chief executive Ben Chung-Bin Hwang becomes CEO11
  14. Dec 23, 2021New chief executive Jack E. Stover becomes CEO12

Calendar

Coming up

  1. Nov 18, 2026Reports results for the quarter ending Sep/202629

When it reported results

  1. Aug 20, 2026Reported quarterly or annual results26

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

317 filings to the SEC since October 2021: 5 annual reports, 14 quarterly reports, 76 major events, 32 insider forms, 20 large holders, 170 other. The latest 20:

  1. Oct 15, 20268-K CURRENT REPORT EDGAR
  2. Oct 9, 20268-K CURRENT REPORT EDGAR
  3. Oct 5, 20268-K CURRENT REPORT EDGAR
  4. Sep 21, 20268-K CURRENT REPORT EDGAR
  5. Sep 16, 20268-K CURRENT REPORT EDGAR
  6. Sep 15, 20268-K CURRENT REPORT EDGAR
  7. Sep 4, 20264 EDGAR
  8. Sep 4, 20264 EDGAR
  9. Sep 1, 20268-K CURRENT REPORT EDGAR
  10. Aug 31, 20268-K CURRENT REPORT EDGAR
  11. Aug 28, 2026DEF 14A PROXY STATEMENT EDGAR
  12. Aug 21, 20268-K CURRENT REPORT EDGAR
  13. Aug 20, 20268-K CURRENT REPORT EDGAR
  14. Aug 19, 20264 PRIMARY DOCUMENT EDGAR
  15. Aug 19, 20264 EDGAR
  16. Aug 19, 2026SCHEDULE 13D EDGAR
  17. Aug 19, 20264 EDGAR
  18. Aug 19, 202610-Q QUARTERLY REPORT EDGAR
  19. Aug 18, 20264 PRIMARY DOCUMENT EDGAR
  20. Aug 18, 2026PRE 14A PROXY STATEMENT EDGAR

The 317 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

14 open-market trades by officers, directors and large owners since October 2021: 8 buys and 6 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 17, 2026HRT FINANCIAL LP10% ownerSale18,395$5.94$109.3KForm 4
Aug 14, 2026HRT FINANCIAL LP10% ownerSale3,163$0.90$2.8KForm 4
Aug 13, 2026HRT FINANCIAL LP10% ownerSale42,411$0.89$37.7KForm 4
Aug 12, 2026HRT FINANCIAL LP10% ownerBuy5,585$0.96$5.4KForm 4
Aug 11, 2026HRT FINANCIAL LP10% ownerSale2,280$0.97$2.2KForm 4
Aug 10, 2026HRT FINANCIAL LP10% ownerBuy4,016$0.94$3.8KForm 4
Aug 7, 2026HRT FINANCIAL LP10% ownerSale924$0.95$878Form 4
Aug 6, 2026HRT FINANCIAL LP10% ownerBuy926$0.94$870Form 4
Aug 5, 2026HRT FINANCIAL LP10% ownerSale383$0.94$360Form 4
Aug 4, 2026HRT FINANCIAL LP10% ownerBuy1,368$0.95$1.3KForm 4
Aug 3, 2026HRT FINANCIAL LP10% ownerBuy14,556$0.96$14.0KForm 4
Jul 31, 2026HRT FINANCIAL LP10% ownerBuy8,811$1.05$9.3KForm 4
Jul 30, 2026HRT FINANCIAL LP10% ownerBuy1,063$1.01$1.1KForm 4
Jul 29, 2026HRT FINANCIAL LP10% ownerBuy1,310$1.01$1.3KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Profusa, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARProfusa, Inc.1
  • CIK0001859807
  • Employer ID (EIN)86-34372714
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)3841 Surgical & Medical Instruments & Apparatus1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address207 West 25Th St, 9Th Floor, New York, NY 100011
  • Phone212-494-90221
  • Shares outstanding605,647 as of Aug 18, 20269
  • Public float$1.3M as of Jun 30, 20254
  • AuditorMarcum LLP, San Francisco, CA PCAOB ID 688; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceJun 17, 20211
  • Filings322 in all: 8-K (73), CORRESP (33), UPLOAD (25), 4 (24), 424B3 (17), 10-Q (14), S-4/A (14), 425 (12)1
    All 38 form types

    DEF 14A (10), PRE 14A (10), S-1/A (9), 3 (8), EFFECT (8), NT 10-Q (8), S-1 (7), SC 13G (6), SC 13G/A (6), 10-K (5), SCHEDULE 13G/A (5), 8-A12B (3), 8-K/A (3), DEFA14A (3), 25-NSE (2), CERT (2), SEC STAFF LETTER (2), 424B4 (1), ARS (1), DEF 14C (1), DRS (1), NT 10-K (1), POS AM (1), PRE 14C (1), PRER14A (1), S-1MEF (1), S-4 (1), SC 13D (1), SCHEDULE 13D (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Apr 15, 2026
    Quarterly report (10-Q) Aug 19, 2026
    Proxy statement (DEF 14A) Aug 28, 2026
    Latest 8-K (8-K) Oct 15, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.0001 par valuePFSANasdaq

From the cover page of the 10-K filed Apr 15, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Profusa, Inc. names in Item 1A of its 10-K filed Apr 15, 2026: 76 risks under these headings, as written.4

  • Profusa does not intend to pay cash dividends for the foreseeable future.
  • We have been notified by Nasdaq of our failure to comply with certain Nasdaq Global Market continued listing requirements and if we are unable to regain compliance with all applicable continued listing requirements and standards of the Nasdaq Global Market, our Common Stock could be delisted from the Nasdaq Global Market.
  • There can be no assurance that our increased stock price following the Reverse Stock Split will remain at a price that will be sufficient in order to meet any continued requirements and policies of Nasdaq or that our Common Stock will remain listed on Nasdaq.
  • Risks Related to Our Business and Operations
  • We have a history of net losses, and we may not achieve or maintain profitability in the future.
  • We have substantial doubt about our ability to continue as a going concern, which may hinder our ability to obtain further financing.
  • We have a limited operating history on which to assess the prospects for our business and we have incurred losses since inception. We anticipate that we will continue to incur significant losses for at least the next several years as we continue to commercialize our existing products and services and seek to develop and commercialize new products and services.
  • We have incurred significant losses in the past and will likely incur losses in the future.
  • We may need to raise additional funding to expand the commercialization of our products and services and to expand our research and development efforts. This additional financing may not be available on acceptable terms, or at all. Failure to obtain this necessary capital when needed may force us to delay, limit or terminate our product commercialization or development efforts or other operations.
  • The clinical trial process is lengthy and expensive with uncertain outcomes. Results of earlier studies may not be predictive of future clinical trial results, or the safety or efficacy profile for such products.
  • Our products may not achieve or maintain market acceptance.
  • We operate in a highly competitive market and face competition from large, well-established companies with significant resources, and, as a result, we may not be able to compete effectively.
The other 65 risks
  • The research and development efforts we undertake independently, and in some instances in connection with our collaborations with third parties, may not result in the development of commercially viable products, the generation of significant future revenues or adequate profitability.
  • Medical device development is costly and involves continual technological change, which may render our current or future products obsolete.
  • If we are unable to successfully develop and effectively manage the introduction of new products, our business may be adversely affected.
  • If we are unable to establish and maintain adequate sales and marketing capabilities or enter into and maintain arrangements with third parties to sell and market our products, our business may be harmed.
  • We have limited experience in marketing and selling our products and related services, and if we are unable to successfully commercialize our products and related services, our business and operating results will be adversely affected.
  • We are subject to a variety of risks due to our international operations that could adversely affect our business, our operations or profitability and operating results.
  • There are a variety of oxygen monitoring and CGM products and technologies, and consumer confusion about product features and technology could lead consumers to purchase competitive products instead of our products, or to conflate any adverse events or safety issues associated with oxygen monitoring and CGM products with our products, which could adversely affect our business, financial condition and results of operations.
  • We expect the commercialization of the Lumee Oxygen Platform to generate nearly all our commercial revenue until we obtain regulatory approval for additional products.
  • Our business, financial condition and results of operations could be adversely affected by disruptions in the global economy caused by the ongoing war in Ukraine and the Middle East conflict.
  • We may face risks associated with acquisitions of companies, products and technologies and our business could be harmed if we are unable to address these risks.
  • Our success will depend on our ability to attract and retain our personnel and manage our human capital, while controlling labor costs.
  • We are subject to export and import control laws and regulations that could impair our ability to compete in international markets or subject us to liability if we violate such laws and regulations.
  • Our ability to use our net operating losses to offset future taxable income may be subject to certain limitations which could subject our business to higher tax liability.
  • If our manufacturing capabilities are insufficient to produce an adequate supply of product at appropriate quality levels, our growth could be limited and our business could be harmed.
  • We depend upon third-party suppliers and outsource to other parties, making us vulnerable to supply disruptions, suboptimal quality, noncompliance and/or price fluctuations, which could harm our business.
  • We will need to expand our organization, and we may experience difficulties in recruiting needed additional employees and consultants, which could disrupt our operations.
  • The failure to comply with U.S. Foreign Corrupt Practices Act and similar worldwide anti-bribery laws in non-U.S. jurisdictions could materially adversely affect our business and result in civil and/or criminal sanctions.
  • Unfavorable global economic conditions could adversely affect our business, financial condition or results of operations.
  • We may experience pricing pressures from contract suppliers or manufacturers on which we rely.
  • Manufacturing difficulties and/or any disruption at our facilities may adversely affect our manufacturing operations and related product sales, and increase our expenses.
  • Customer or third-party complaints or negative reviews or publicity about our company or our products could harm our reputation and brand.
  • The size and expected growth of our addressable market has not been established with precision, and may be smaller than we estimate.
  • We or the third parties upon whom we depend may be adversely affected by disasters, and our business continuity and disaster recovery plans may not adequately protect us from a serious disaster. Any interruption in the operations of our or our suppliers’ manufacturing or other facilities may have a material adverse effect our business, financial condition and results of operations.
  • Our operating results may fluctuate significantly in the future, which makes our future operating results difficult to predict and could cause our operating results to fall below expectations or any guidance we may provide.
  • If our financial performance fails to meet the expectations of investors and public market analysts, the market price of our Common Stock could decline.
  • In the unlikely event that payment of certain outstanding promissory notes issued by Profusa to its founders and insiders is demanded at an inopportune time for Profusa, Profusa’s management believes it would still have sufficient funds to operate its business, but may need to adjust certain expenditures or raise additional funds to operate at its currently planned levels.
  • Risks Related to Healthcare Industry Shifts and Changing Regulations
  • There is no guarantee that the FDA will grant 510(k) clearance or PMA approval of our products, and failure to obtain necessary clearances or approvals for our future products would adversely affect our ability to grow our business.
  • We conduct business in a heavily regulated industry and if we fail to comply with applicable laws and government regulations, we could become subject to penalties, be excluded from participation in government programs, and/or be required to make significant changes to our operations.
  • If we are unable to successfully complete the pre-clinical studies or clinical trials necessary to support additional PMA, De Novo, or 510(k) applications or supplements, we may be unable to commercialize our CGM systems under development, which could impair our business, financial condition and operating results.
  • Failure to obtain any required regulatory authorization in foreign jurisdictions will prevent us from marketing our products abroad.
  • Potential long-term complications from our current or future products under development may not be revealed by our clinical experience to date.
  • Our products may cause or contribute to adverse medical events or be subject to failures or malfunctions that we are required to report to the FDA, and if we fail to do so, we would be subject to sanctions that could harm our reputation, business, financial condition and results of operations. The discovery of serious safety issues with our products, or a recall of our products either voluntarily or at the direction of the FDA or another governmental authority, could have a negative impact on us.
  • Quality problems could lead to recalls or safety alerts, reputational harm, and could have a material adverse effect on our business, results of operations, financial condition and cash flows.
  • If we or our suppliers or distributors fail to comply with ongoing regulatory requirements, or if we have unanticipated problems with our products, the products could be subject to restrictions or withdrawal from the market.
  • We may be subject to fines, penalties and injunctions if we are determined to be promoting the use of our products for unapproved or improper off-label uses or determined to have made claims that are untruthful or misleading or not adequately substantiated.
  • Our current or future products may be subject to product recalls even after receiving FDA clearance or approval. A recall of our products, either voluntarily or at the direction of the FDA, or the discovery of serious safety issues with our products, could have a significant adverse impact on us.
  • Health care policy changes, including U.S. health care reform legislation, may have a material adverse effect on our business.
  • We are subject to federal, state and foreign laws prohibiting “kickbacks” and false or fraudulent claims, and other fraud and abuse laws, transparency laws, and other health care laws and regulations, which, if violated, could subject us to substantial penalties. Additionally, any challenge to or investigation into our practices under these laws could cause adverse publicity and be costly to respond to, and thus could harm our business.
  • Changes to the regulatory landscape may impact our ability to obtain marketing authorization for future product developments.
  • Our failure to comply with laws, regulations and contract requirements relating to reimbursement of health care goods and services may subject us to penalties and adversely impact our reputation, business, financial condition and cash flows.
  • We are subject to complex and evolving U.S. and foreign laws and regulations and other requirements regarding privacy, data protection, security, and other matters. Many of these laws and regulations are subject to change and uncertain interpretation, and could result in claims, changes to our business practices, monetary penalties, increased cost of operations, or declines in user growth or engagement, or otherwise harm our business.
  • Security breaches and other disruptions that compromise our information and expose us to liability, could cause our business and reputation to suffer and could subject us to substantial liabilities.
  • Cybersecurity risks and cyber incidents could result in the compromise of confidential data or critical data systems and give rise to potential harm to customers, remediation and other expenses, expose us to liability under HIPAA, consumer protection laws, or other common law theories, subject us to litigation and federal and state governmental inquiries, damage our reputation, and otherwise be disruptive to our business and operations.
  • Failure to protect our information technology infrastructure against cyber-based attacks, network security breaches, service interruptions, or data corruption could significantly disrupt our operations and adversely affect our business and operating results.
  • Inadequate funding for the FDA, the SEC and other government agencies could hinder their ability to hire and retain key leadership and other personnel, thereby preventing new products and services from being developed or commercialized in a timely manner or otherwise preventing those agencies from performing normal business functions on which the operation of our business may rely, which could negatively impact our business.
  • Risks Related to Intellectual Property Protection and Use
  • We may become subject to claims of infringement or misappropriation of the intellectual property rights of others, which could prohibit us from shipping affected products, require us to obtain licenses from third parties or to develop non-infringing alternatives, and subject us to substantial monetary damages and injunctive relief. We may also be subject to other claims or suits.
  • Our inability to adequately protect our intellectual property could allow our competitors and others to produce products based on our technology, which could substantially impair our ability to compete.
  • We may be involved in lawsuits to protect or enforce our patents or the patents of our licensors, which could be expensive, time-consuming and unsuccessful.
  • We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed alleged trade secrets of their other clients or former employers to us, which could subject us to costly litigation.
  • We may not be able to protect our intellectual property rights throughout the world, which could materially, negatively affect our business.
  • If we are unable to protect the confidentiality of our trade secrets, the value of our technology could be materially adversely affected and our business could be harmed.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, document submission, fee payment and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • We may need or may choose to obtain licenses from third parties to advance our research or allow commercialization of our current or future products, and we cannot provide any assurances that we would be able to obtain such licenses.
  • If our trademarks and trade names are not adequately protected, then we may not be able to build name recognition in our markets of interest and our business may be adversely affected.
  • The measures that we use to protect the security of our intellectual property and other proprietary rights may not be adequate, which could result in the loss of legal protection for, and thereby diminish the value of, such intellectual property and other rights.
  • Our issued patents could be found invalid or unenforceable if challenged in court, which could have a material adverse impact on our business.
  • Changes in patent laws or patent jurisprudence could diminish the value of patents in general, thereby impairing our ability to protect our products.
  • Several inventions covered by our patent portfolio were made using U.S. government funding. The U.S. government has an irrevocable, non-exclusive, royalty-free license to use such other inventions.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural requirements, document submission, fee payment and other requirements imposed by government patent agencies and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • Patent terms may be inadequate to protect our competitive position on products or product candidates for an adequate amount of time.
  • If we do not obtain patent term extension and/or data exclusivity for any product candidates we decide to develop as drug product candidates, our business may be materially harmed.
  • We may be subject to claims challenging the inventorship or ownership of our patents and other intellectual property.
  • Intellectual property rights do not necessarily address all potential threats.
  • General Risks of Profusa’s Business
  • If we are unable to successfully remediate our existing material weaknesses and maintain effective internal control over financial reporting, investors may lose confidence in our reported financial information and our stock price and our business may be adversely impacted.
  • Environmental, social and corporate governance (“ESG”) regulations, policies and provisions may make our supply chain more complex and may adversely affect our relationships with customers.

Legal proceedings

We are not currently subject to any material legal proceedings.

The opening of Item 3, Legal Proceedings.4

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
    SEC EDGAROther events
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37