HealthBeacon has developed a ‘smart sharps bin’ and app to keep track of the waste after someone has injected their medicine at home.
HealthBeacon said in a statement that its “short-term working capital position has deteriorated” since it stated in October 5th that had €500,000 of net cash on the balance sheet, sufficient to keep it running until mid-to-late November. The company’s flagship product is a smart sharps bin to help patients stick to injection schedules at home.
HealthBeacon, the last company to undergo an initial public offering in Dublin, has seen its market value collapse to €1.18 million from €98 million at the time of its flotation in December 2021.
The embattled company’s co-founder and chief executive, Jim Joyce, quit his role on foot of the sales warning, with Rebecca Shanahan, an independent non-executive director of the company, assuming the top executive role on an interim basis.