Aclarion (ACON)
Market Price (6/28/2026): $2.82 | Market Cap: $6.0 MilSector: Health Care | Industry: Health Care Technology
Aclarion (ACON)
Market Price (6/28/2026): $2.82Market Cap: $6.0 MilSector: Health CareIndustry: Health Care Technology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -313% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 43% Megatrend and thematic driversMegatrends include Precision Medicine, and Digital Health & Telemedicine. Themes include Personalized Diagnostics, Targeted Therapies, Show more. | Weak multi-year price returns2Y Excs Rtn is -135%, 3Y Excs Rtn is -168% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -8.5 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -10975% Expensive valuation multiplesP/SPrice/Sales ratio is 78x Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 70% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -9367%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9592% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 72% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -137% Key risksACON key risks include [1] a high probability of financial distress threatening its ability to maintain operations and [2] potential delisting from Nasdaq for failure to meet listing requirements. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -313% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 43% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Digital Health & Telemedicine. Themes include Personalized Diagnostics, Targeted Therapies, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -135%, 3Y Excs Rtn is -168% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -8.5 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -10975% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 78x |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 70% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -9367%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9592% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 72% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -137% |
| Key risksACON key risks include [1] a high probability of financial distress threatening its ability to maintain operations and [2] potential delisting from Nasdaq for failure to meet listing requirements. |
Qualitative Assessment
AI Analysis | Feedback
Aclarion (ACON) stock has gained about 5% since 2/28/2026 because of the following key factors:
1. Mixed fiscal Q1 2026 results balanced by strong operational growth despite minimal revenue.
Aclarion reported a fiscal Q1 2026 (ended March 31, 2026) earnings per share (EPS) of -$1.34, surpassing the consensus estimate of -$1.55 to -$1.581 by 13.55% to 15.24%. This narrower-than-expected loss suggested improved cost management; however, the company remained in a pre-commercial stage with negligible revenue, reporting $21.14 thousand for the quarter. Counteracting the revenue absence, Nociscan scan volumes experienced significant growth, increasing 196% year-over-year in fiscal Q1 2026 and 64% sequentially compared to fiscal Q4 2025, indicating accelerating clinical adoption of its diagnostic platform. This combination of beating loss estimates and strong operational metrics, alongside the continued lack of substantial revenue, contributed to a largely stable stock movement as investors weighed future potential against current financial realities.
2. Ongoing strategic advancements and clinical trial progress provided long-term optimism without immediate catalysts for significant price shifts.
During the period, Aclarion continued advancing its CLARITY randomized clinical trial for Nociscan, with an interim readout anticipated in fiscal Q4 2026 and approximately 25% patient enrollment expected by the end of fiscal Q2 2026. The company also progressed its United States reimbursement strategy and achieved expanded insurance coverage for Nociscan in the United Kingdom. Additionally, Aclarion strengthened its intellectual property with a new AI patent, bringing its total to 64 issued and pending patents worldwide, and announced partnerships to advance commercial adoption. While these developments signaled future growth potential and enhanced the company's long-term outlook, they did not translate into immediate, transformative financial results, thus supporting a stable stock trend rather than a sharp increase. The rejection of an unsolicited acquisition proposal at $4.00 per share further indicated the Board's belief in higher intrinsic value, yet this did not trigger a significant market revaluation.
Show more
Aclarion (ACON) stock has gained about 5% since 2/28/2026 because of the following key factors:
1. Mixed fiscal Q1 2026 results balanced by strong operational growth despite minimal revenue.
Aclarion reported a fiscal Q1 2026 (ended March 31, 2026) earnings per share (EPS) of -$1.34, surpassing the consensus estimate of -$1.55 to -$1.581 by 13.55% to 15.24%. This narrower-than-expected loss suggested improved cost management; however, the company remained in a pre-commercial stage with negligible revenue, reporting $21.14 thousand for the quarter. Counteracting the revenue absence, Nociscan scan volumes experienced significant growth, increasing 196% year-over-year in fiscal Q1 2026 and 64% sequentially compared to fiscal Q4 2025, indicating accelerating clinical adoption of its diagnostic platform. This combination of beating loss estimates and strong operational metrics, alongside the continued lack of substantial revenue, contributed to a largely stable stock movement as investors weighed future potential against current financial realities.
2. Ongoing strategic advancements and clinical trial progress provided long-term optimism without immediate catalysts for significant price shifts.
During the period, Aclarion continued advancing its CLARITY randomized clinical trial for Nociscan, with an interim readout anticipated in fiscal Q4 2026 and approximately 25% patient enrollment expected by the end of fiscal Q2 2026. The company also progressed its United States reimbursement strategy and achieved expanded insurance coverage for Nociscan in the United Kingdom. Additionally, Aclarion strengthened its intellectual property with a new AI patent, bringing its total to 64 issued and pending patents worldwide, and announced partnerships to advance commercial adoption. While these developments signaled future growth potential and enhanced the company's long-term outlook, they did not translate into immediate, transformative financial results, thus supporting a stable stock trend rather than a sharp increase. The rejection of an unsolicited acquisition proposal at $4.00 per share further indicated the Board's belief in higher intrinsic value, yet this did not trigger a significant market revaluation.
3. A strengthened financial position and a share repurchase program provided a floor for the stock price.
Aclarion maintained a strong balance sheet, reporting approximately $19.0 million in cash and cash equivalents as of March 31, 2026, with no outstanding debt. Management projected this cash position to fund operations into the second half of 2027, alleviating immediate concerns about financial runway. Further bolstering investor confidence, the company announced a $2.5 million share repurchase program on April 22, 2026. These capital management actions demonstrated financial stability and management's confidence in the company's valuation, which likely helped to establish a floor for the stock price and prevent significant declines, contributing to the overall stable trend.
Show less
Stock Movement Drivers
Fundamental Drivers
The 4.0% change in ACON stock from 2/28/2026 to 6/27/2026 was primarily driven by a 229.6% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6272026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.74 | 2.85 | 4.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 15.4% |
| P/S Multiple | 23.6 | 77.9 | 229.6% |
| Shares Outstanding (Mil) | 1 | 2 | -72.7% |
| Cumulative Contribution | 4.0% |
Market Drivers
2/28/2026 to 6/27/2026| Return | Correlation | |
|---|---|---|
| ACON | 4.0% | |
| Market (SPY) | 6.6% | 14.7% |
| Sector (XLV) | 0.5% | 11.1% |
Fundamental Drivers
The -54.5% change in ACON stock from 11/30/2025 to 6/27/2026 was primarily driven by a -72.7% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 11302025 | 6272026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.26 | 2.85 | -54.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 15.4% |
| P/S Multiple | 54.0 | 77.9 | 44.3% |
| Shares Outstanding (Mil) | 1 | 2 | -72.7% |
| Cumulative Contribution | -54.5% |
Market Drivers
11/30/2025 to 6/27/2026| Return | Correlation | |
|---|---|---|
| ACON | -54.5% | |
| Market (SPY) | 7.3% | 10.2% |
| Sector (XLV) | 2.6% | 6.3% |
Fundamental Drivers
The -56.0% change in ACON stock from 5/31/2025 to 6/27/2026 was primarily driven by a -89.7% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 5312025 | 6272026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.48 | 2.85 | -56.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 42.6% |
| P/S Multiple | 26.0 | 77.9 | 199.4% |
| Shares Outstanding (Mil) | 0 | 2 | -89.7% |
| Cumulative Contribution | -56.0% |
Market Drivers
5/31/2025 to 6/27/2026| Return | Correlation | |
|---|---|---|
| ACON | -56.0% | |
| Market (SPY) | 25.1% | 11.9% |
| Sector (XLV) | 23.0% | 1.5% |
Fundamental Drivers
The -100.0% change in ACON stock from 5/31/2023 to 6/27/2026 was primarily driven by a -100.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 5312023 | 6272026 | Change |
|---|---|---|---|
| Stock Price ($) | 52786041.12 | 2.85 | -100.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 28.8% |
| P/S Multiple | 47,158.5 | 77.9 | -99.8% |
| Shares Outstanding (Mil) | 0 | 2 | -100.0% |
| Cumulative Contribution | -100.0% |
Market Drivers
5/31/2023 to 6/27/2026| Return | Correlation | |
|---|---|---|
| ACON | -100.0% | |
| Market (SPY) | 81.3% | -6.7% |
| Sector (XLV) | 31.9% | -0.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ACON Return | - | -79% | -66% | -96% | -100% | -41% | -100% |
| Peers Return | -5% | -3% | 5% | 5% | 29% | -17% | 8% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 7% | 96% |
Monthly Win Rates [3] | |||||||
| ACON Win Rate | - | 33% | 33% | 17% | 42% | 33% | |
| Peers Win Rate | 48% | 57% | 50% | 50% | 47% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| ACON Max Drawdown | - | - | -85% | -97% | -100% | -71% | |
| Peers Max Drawdown | -29% | -35% | -33% | -26% | -24% | -33% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MDT, SYK, GMED, ZBH, ATEC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/26/2026 (YTD)
How Low Can It Go
| Event | ACON | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -26.9% | -6.7% |
| % Gain to Breakeven | 36.9% | 7.1% |
| Time to Breakeven | 4 days | 31 days |
In The Past
Aclarion's stock fell -26.9% during the 2023 SVB Regional Banking Crisis. Such a loss loss requires a 36.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | ACON | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -26.9% | -6.7% |
| % Gain to Breakeven | 36.9% | 7.1% |
| Time to Breakeven | 4 days | 31 days |
In The Past
Aclarion's stock fell -26.9% during the 2023 SVB Regional Banking Crisis. Such a loss loss requires a 36.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Aclarion (ACON)
Aclarion, Inc. (ACON) is a healthcare technology company focused on developing specialized software applications for Magnetic Resonance Spectroscopy (MRS). The company's core mission is to assist in the diagnosis and understanding of degenerative pain, particularly by analyzing biomarkers related to disc degeneration.
The company's primary product is the NOCISCAN-LS Post-Processor suite. This suite comprises two key software components: NOCICALC-LS, which is designed to receive and process acquired disc MRS data to calculate the levels of specific degenerative pain biomarkers; and NOCIGRAM-LS, a complementary clinical decision support software. These tools provide medical professionals with quantitative data and insights to aid in patient management.
Aclarion primarily serves the healthcare market in the United States. Its customers are likely healthcare providers, clinics, and hospitals that utilize MRS imaging technology for diagnostics, specifically those involved in assessing and managing patients experiencing degenerative pain, enabling more informed clinical decisions.
AI Analysis | Feedback
- Like Foundation Medicine, but for chronic pain diagnostics using MRI data.
- An Exact Sciences (Cologuard) for degenerative pain, analyzing MRI data for biomarkers.
- A Palantir for medical imaging analysis in pain management.
AI Analysis | Feedback
- NOCICALC-LS: Software that processes acquired disc magnetic resonance spectroscopy (MRS) data to calculate levels of degenerative pain biomarkers.
- NOCIGRAM-LS: Clinical decision support software designed to assist in evaluating degenerative pain biomarkers.
AI Analysis | Feedback
Aclarion (ACON) - Major Customers
Aclarion, Inc. (ACON) is a healthcare technology company that develops software applications for magnetic resonance spectroscopy (MRS) to assist in the assessment of degenerative pain. Given the specialized nature of its products (NOCISCAN-LS Post-Processor suite, NOCICALC-LS, and NOCIGRAM-LS), Aclarion sells primarily to other companies and healthcare organizations, rather than directly to individuals.
Aclarion's primary customers are healthcare providers and institutions that utilize advanced medical imaging and pain management services. While the company does not publicly disclose the names of individual major customer companies (especially public ones), its target customer categories include:
- Pain Management Clinics
- Hospitals (particularly those with pain management or neurology departments)
- Imaging Centers
These entities integrate Aclarion's software suite into their diagnostic and clinical decision support workflows for patients experiencing degenerative pain.
AI Analysis | Feedback
AI Analysis | Feedback
Brent Ness, Chief Executive Officer, President, and Director
Mr. Ness became Aclarion's Chief Executive Officer in September 2021 and has over 25 years of experience in medical device and healthcare technology. His past executive and senior leadership roles include President/CCO at Cleerly, COO at Mighty Oak Medical, CCO at HeartFlow, President at ProNerve, and VP Global Sales & Marketing at Medtronic Navigation.
Greg Gould, Chief Financial Officer
Mr. Gould was appointed Chief Financial Officer effective in March 2025 (some sources say September 2025) and brings over 30 years of financial leadership experience. He has raised more than $450 million in public company financing, led multiple acquisitions, and guided three organizations through Nasdaq uplistings. Mr. Gould has served as CFO at seven publicly-traded companies, including Charlotte's Web and Aytu BioScience, and most recently at Nanos Health. He has successfully sold three publicly-traded companies.
Jeff Thramann, MD, Executive Chairman and Director
Dr. Thramann is a serial entrepreneur and neurosurgeon who has founded several consumer and medtech companies. These include Auddia Inc. (NASDAQ: AUUD), Lanx, LLC (sold to Biomet Inc. in November 2013), ProNerve, LLC (sold to Waud Capital Partners in 2012), and U.S. Radiosurgery (sold to Alliance Healthcare Services in April 2011). He has a track record of taking six healthcare companies from inception to exit.
Ryan Bond, Chief Strategy Officer
Mr. Bond is the Chief Strategy Officer at Aclarion and was previously with Nocimed, the company's predecessor. He is responsible for strategic initiatives and oversees the company's clinical strategy.
AI Analysis | Feedback
Key Risks to Aclarion (ACON)
- Going Concern and Profitability Concerns: Aclarion has a history of incurring significant net losses since its inception and anticipates that these losses will continue for the foreseeable future, potentially never achieving or maintaining profitability. The company's past working capital deficiencies, stockholders' deficits, and recurring losses have raised substantial doubt about its ability to continue as a going concern.
- Nasdaq Listing Compliance Risk: The company has previously faced non-compliance notices from Nasdaq regarding its minimum stockholders' equity and bid price requirements. While Aclarion recently regained compliance through a reverse stock split and a public offering, there is no assurance that it will be able to maintain compliance with all Nasdaq continued listing requirements in the future. Delisting from Nasdaq could severely affect the liquidity of its common stock and hinder its ability to raise additional capital.
- Market Adoption and Commercialization Challenges: Aclarion faces the risk of slower-than-expected traction with both surgeons and payers for its Nociscan product, which could significantly hamper its revenue growth potential. The market price of its common stock may also be negatively influenced by changes in coverage decisions, reimbursement rates, or pricing of its technology.
AI Analysis | Feedback
AI Analysis | Feedback
Aclarion, Inc. (ACON) focuses on addressing the chronic low back pain market with its Nociscan platform, which utilizes Magnetic Resonance Spectroscopy (MRS) and proprietary augmented intelligence (AI) algorithms to identify painful discs.
The addressable markets for Aclarion's products and services include:
- Chronic Low Back Pain Market: The 7 major chronic lower back pain markets were valued at approximately $6.7 billion in 2023 and are projected to reach $10.0 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 3.7% during 2024-2034. Globally, an estimated 266 million people suffer from chronic low back pain.
- Magnetic Resonance Spectroscopy (MRS) Market: The global Magnetic Resonance Spectroscopy (MRS) market size was approximately $1,005.1 million by the end of 2025 and is projected to reach $1,577.95 million by 2033, with a CAGR of 5.8% from 2025 to 2033.
- Pain Management Software Market: The global pain management software market size was estimated at $5.805 billion in 2024 and is projected to grow from $6.68 billion in 2025 to $27.2 billion by 2035, exhibiting a CAGR of 15.07%. North America accounts for approximately 45% of the global market share. The U.S. pain management software market size is projected to be $4,264.23 million in 2028.
- Neurological Biomarkers Market (relevant for pain biomarkers): The global neurological biomarkers market, which includes various neurological conditions, was valued at $9.5 billion in 2024 and is estimated to grow at a CAGR of 10.9% from 2025 to 2034, reaching $18.75 billion by 2030. The U.S. neurological biomarkers market was valued at $3.7 billion in 2024.
AI Analysis | Feedback
Aclarion, Inc. (ACON) is anticipated to drive future revenue growth through several key initiatives over the next 2-3 years, primarily centered on the adoption and expansion of its Nociscan diagnostic platform.
Here are the expected drivers of future revenue growth:
- Increased Nociscan Adoption and Scan Volumes: A primary driver is the continued surge in the adoption and utilization of Aclarion's Nociscan reports. The company has already demonstrated robust growth, with Nociscan report volumes increasing by 89% year-over-year in Q3 FY25, and overall scan volumes rising 114% year-over-year in Q4 2025 and 69% for the full year 2025. This growth indicates strong market demand for its proprietary technology that identifies degenerative pain biomarkers.
- Expansion into New Markets and Healthcare Facilities: Aclarion is actively pursuing commercial expansion by forming strategic agreements with healthcare institutions and increasing its footprint in new geographies. In 2025, the company successfully added 9 new imaging centers and 22 new physician users across the U.S., U.K., and Europe. This expansion into new imaging centers and physician networks is expected to further enhance market penetration and revenue stability.
- Progress in the CLARITY Clinical Trial: The acceleration of patient enrollment in the CLARITY clinical trial is a significant anticipated driver. Aclarion plans to enroll approximately 25% of patients in this trial by the end of Q2 2026, with initial interim data expected in Q3 2026. Successful outcomes and readouts from this trial could provide crucial clinical validation, bolstering physician confidence and subsequently increasing Nociscan adoption and market acceptance.
- Expansion of Access to Major MRI Manufacturers: Aclarion intends to expand access to its Nociscan platform across major MRI manufacturers. This strategic move is projected to grow its available global market size by over 30%. By broadening compatibility, Aclarion can reach a wider base of potential users and facilities, thereby increasing the overall market opportunity for its technology.
AI Analysis | Feedback
Share Issuance
- Aclarion completed its Initial Public Offering (IPO) in April 2022, raising approximately $9.4 million through the sale of 2,165,000 shares of common stock and accompanying warrants.
- In January 2025, the company closed a public offering of common stock and warrants, generating approximately $14.4 million in gross proceeds.
- The company has executed several reverse stock splits, including a 1:27 reverse split on March 28, 2025, and other splits in January 2024 and January 2025.
Capital Expenditures
- Aclarion's capital expenditures were $5K in 2024.
- In the last 12 months, capital expenditures amounted to approximately -$12,917.
- Quarterly capital expenditures include $7,318 as of September 30, 2025, and $5,113 as of December 31, 2024.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Aclarion Earnings Notes | 12/16/2025 | |
| Is Aclarion Stock Built to Withstand a Pullback? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 83.62 |
| Mkt Cap | 14.9 |
| Rev LTM | 5,755 |
| Op Inc LTM | 1,007 |
| FCF LTM | 985 |
| FCF 3Y Avg | 844 |
| CFO LTM | 1,226 |
| CFO 3Y Avg | 1,083 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 15.9% |
| Rev Chg 3Y Avg | 7.9% |
| Rev Chg Q | 10.6% |
| QoQ Delta Rev Chg LTM | 2.7% |
| Op Inc Chg LTM | 8.3% |
| Op Inc Chg 3Y Avg | 10.4% |
| Op Mgn LTM | 17.8% |
| Op Mgn 3Y Avg | 15.9% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 20.0% |
| CFO/Rev 3Y Avg | 19.6% |
| FCF/Rev LTM | 15.6% |
| FCF/Rev 3Y Avg | 15.6% |
Price Behavior
| Market Price | $2.85 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 04/22/2022 | |
| Distance from 52W High | -70.6% | |
| 50 Days | 200 Days | |
| DMA Price | $3.23 | $4.84 |
| DMA Trend | down | down |
| Distance from DMA | -11.8% | -41.1% |
| 3M | 1YR | |
| Volatility | 57.0% | 93.0% |
| Downside Capture | 259.19 | 181.80 |
| Upside Capture | 108.06 | 28.45 |
| Correlation (SPY) | 27.4% | 13.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.97 | 1.23 | 0.90 | 1.08 | 1.03 | -5.84 |
| Up Beta | -0.91 | -0.84 | 0.10 | 2.11 | 1.60 | 1.63 |
| Down Beta | 1.34 | -0.20 | 0.30 | 1.25 | 0.63 | -16.82 |
| Up Capture | 76% | 150% | 163% | -25% | 24% | -7% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 9 | 21 | 32 | 55 | 123 | 313 |
| Down Capture | 255% | 543% | 131% | 143% | 139% | 114% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 10 | 18 | 28 | 64 | 119 | 416 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ACON | |
|---|---|---|---|---|
| ACON | -60.2% | 92.9% | -0.56 | - |
| Sector ETF (XLV) | 21.4% | 15.4% | 1.06 | 2.0% |
| Equity (SPY) | 21.2% | 12.4% | 1.26 | 13.4% |
| Gold (GLD) | 21.8% | 27.7% | 0.70 | 18.5% |
| Commodities (DBC) | 21.8% | 18.6% | 0.92 | 13.1% |
| Real Estate (VNQ) | 16.1% | 13.6% | 0.85 | 0.0% |
| Bitcoin (BTCUSD) | -44.2% | 42.5% | -1.25 | 18.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ACON | |
|---|---|---|---|---|
| ACON | -97.1% | 1,106.9% | 0.32 | - |
| Sector ETF (XLV) | 7.0% | 14.8% | 0.29 | 0.1% |
| Equity (SPY) | 13.4% | 17.1% | 0.61 | -4.4% |
| Gold (GLD) | 17.8% | 18.3% | 0.79 | 3.1% |
| Commodities (DBC) | 7.4% | 19.5% | 0.28 | -0.4% |
| Real Estate (VNQ) | 3.4% | 18.9% | 0.08 | 1.2% |
| Bitcoin (BTCUSD) | 10.9% | 54.0% | 0.39 | -2.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ACON | |
|---|---|---|---|---|
| ACON | -83.1% | 1,106.9% | 0.32 | - |
| Sector ETF (XLV) | 10.4% | 16.6% | 0.51 | 0.1% |
| Equity (SPY) | 15.2% | 18.0% | 0.72 | -4.4% |
| Gold (GLD) | 11.8% | 16.1% | 0.60 | 3.1% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | -0.4% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.23 | 1.2% |
| Bitcoin (BTCUSD) | 54.7% | 66.4% | 0.95 | -2.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/13/2026 | 10-Q |
| 12/31/2025 | 03/18/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 04/09/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 03/28/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/25/2023 | 10-Q |
| 03/31/2023 | 07/03/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/13/2026 | 10-Q |
| 12/31/2025 | 03/18/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 04/09/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 03/28/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/25/2023 | 10-Q |
| 03/31/2023 | 07/03/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 06/06/2022 | 10-Q |
| 12/31/2021 | 04/25/2022 | 424B4 |
| 09/30/2021 | 01/06/2022 | S-1 |
Insider Activity
Updated 6/12/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Breidbart, Scott | Direct | Buy | 5122026 | 3.18 | 5,664 | 18,012 | 18,012 | Form | |
| 2 | Neal, David K | Direct | Buy | 5122026 | 3.10 | 2,500 | 7,750 | 7,756 | Form | |
| 3 | Ness, Brent | Chief Executive Officer | Direct | Buy | 5112026 | 3.18 | 6,289 | 19,999 | 20,034 | Form |
| 4 | Wesemann, William | Direct | Buy | 5082026 | 3.30 | 1,562 | 5,155 | 5,158 | Form | |
| 5 | Ness, Brent | Chief Executive Officer | Direct | Buy | 12012025 | 6.20 | 10 | 62 | 68 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Breidbart, Scott | Direct | Buy | 5122026 | 3.18 | 5,664 | 18,012 | 18,012 | Form | |
| 2 | Neal, David K | Direct | Buy | 5122026 | 3.10 | 2,500 | 7,750 | 7,756 | Form | |
| 3 | Ness, Brent | Chief Executive Officer | Direct | Buy | 5112026 | 3.18 | 6,289 | 19,999 | 20,034 | Form |
| 4 | Wesemann, William | Direct | Buy | 5082026 | 3.30 | 1,562 | 5,155 | 5,158 | Form | |
| 5 | Ness, Brent | Chief Executive Officer | Direct | Buy | 12012025 | 6.20 | 10 | 62 | 68 | Form |
Industry Resources
| Health Care Resources |
| U.S. National Library of Medicine |
| ClinicalTrials.gov |
| Modern Healthcare |
| Healthcare Dive |
| Fierce Healthcare |
| Health Affairs |
| Health Data Management |
| FDA Tracker |
| Health Care Technology Resources |
| Healthcare IT News |
| MobiHealthNews |
| HealthTech Magazine |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.