Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) ("Cardiol" or the "Company"), a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease, is pleased to announce the Company has filed a preliminary prospectus supplement (the "Supplement") to its short form base shelf prospectus dated July 12, 2024 (the "Base Prospectus") in connection with a proposed public offering (the "Offering") of Class A common shares (the "Common Shares"). The Supplement was also filed with the U.S. Securities Exchange and Commission (the "SEC"), as part of a registration statement on Form-10, as amended, which was declared effective by the SEC on July 16, 2024, in accordance with the Multijurisdictional Disclosure System established between Canada and the United States.
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Potent Ventures Appoints Mr. Bruce Gillies, Former PepsiCo Executive, to Its Advisory Board in Preparation for Launch of The Gummy Project
Potent Ventures Inc. (CSE: POT) (FSE: 0OS) (OTCQB: POTVF) ("Potent" or the "Company") is excited to announce the Company has appointed Mr. Bruce Gillies, former Pepsi Executive, to its Advisory Board as it prepares to launch The Gummy Project and its purpose-driven Keystone Species product marketing strategy for its initial gummy product line.
- Mr. Gillies delivers extensive experience and expertise in Marketing, Sales, Strategy, Consumer Insights, Customer Development and Operations
- The Gummy Project to Champion Endangered Keystone Species, supporting global efforts to raise awareness and protect Keystone Species through sales of high-quality gummy products
"We're thrilled to welcome Bruce to the team, his expertise will be highly valuable as we streamline our roadmap to launch our initial product line," said Mr. Charlie Lamb, CEO of the Company. "Our low sugar gummy products represent a high growth sector with an entirely innovative differentiation and consumer engagement strategy. Bruce's proven ability to develop winning strategies and plans, which have delivered a competitive advantage to some of the world's most iconic brands, will accelerate our timelines and ensure we are operating at the highest standards and best practices for long term success."
Bruce Gillies, Experience and Expertise Highlights
- PepsiCo Beverages - Sr. Marketing Manager, Field Marketing Canada 2011 - 2018
- PepsiCo Beverages - Sr. Marketing Manager, Tropicana Gatorade, Canada 2010 - 2011
- Pepsi Bottling Group - Director Customer Marketing & Execution, Canada 2008 - 2010
- Pepsi Bottling Group - Director of Retail Sales, BC 2005 - 2008
- Pepsi Bottling Group - Director of Sales (Retail & Food Service), BC 2002 - 2005
- Pepsi Bottling Group - Director of Retail Sales, BC 2001 - 2002
"I'm excited to join the team to support breakthrough brand development and delighting consumer engagement," said Mr. Gillies. "I look forward to helping management implement best practices with the goal to establish a leading business and sales culture anchored by innovative commercialization, operational excellence, and a spirit of market leadership to unleash sustainable growth."
Charlie Lamb, President & CEO, Director
Telephone: 1(236) 317-2812 - Toll free 1(888) 556-9656
E-mail: investors@potent-ventures.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding the change of business and regulatory and shareholder approval of same, growth of the low sugar and plant-based gummy market, business strategy, corporate vision, proposed expansion, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates", "may" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition, and results of operations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
5 Top NASDAQ Biotech Stocks of 2024
The NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) has traded at three-year highs in 2024 in response to looming interest rate cuts, breakthrough innovations and increased deals in the space.
After dropping to a low of 3,637.05 in October 2023, the index climbed to start 2024 at 4,457.02. It did hit a bump in the road early in Q2 when it plunged to 4,056.3 in April, but it quickly recovered and has since tracked even higher, reaching a high of 4,954.813 on September 19.
While the current economic environment means the biotech sector may have a complex road ahead, robust growth could be in store in the future.
According to a recent report from Precedence Research, the global biotech market is expected to grow at a compound annual growth rate of 11.5 percent from now to 2034, reaching a valuation of US$4.61 trillion.
Driving that growth will be favorable government policies, investment in the sector, increased demand for synthetic biology and a rise in chronic disorders such as cancer, heart disease and hypertension.
The top NASDAQ biotech stocks have seen sizeable share price increases this year. For those interested in investing in biotech companies, the best-performing biotech stocks are outlined below.
Data was gathered on October 4, 2024, using TradingView’s stock screener, and all best-performing biotech stocks had market caps between US$50 million and US$500 million at that time.
1. Instil Bio (NASDAQ:TIL)
Year-to-date gain: 465.93 percent
Market cap: US$315.37 million
Share price: US$48.49
Clinical-stage biopharmaceutical company Instil Bio is developing a pipeline of oncology therapies. The company’s primary asset is IMM2510, a differentiated PD-L1xVEGF bispecific antibody aimed at the treatment of multiple solid tumor cancers.
Instil Bio has a definitive agreement for the in-licensing, ex-China development and commercial rights to IMM2510 from China-based ImmuneOnco Biopharmaceuticals (HKEX:1541). The agreement also covers another drug candidate in its pipeline, IMM27M, a next-generation anti-CTLA-4 antibody targeting multiple solid tumors.
In July, the company secured a 15-year lease agreement with AstraZeneca Pharmaceuticals (LSE:AZN) for a cell therapy manufacturing facility based in the United States.
“By executing a 15-year lease of our Tarzana cell therapy manufacturing facility, we have strengthened our financial foundation to support Instil’s near-term clinical development of these assets,” said Instil Bio CEO Bronson Crouch.
In mid-September, Instil Bio and ImmuneOnco announced a global registrational strategy for IMM2510 in combination with chemotherapy in treating non-small cell lung cancer and triple-negative breast cancer. The strategy includes a series of clinical trials to be launched both in the US and China in late 2024 and early 2025.
Instil Bio’s stock surged in September to reach a year-to-date high of US$92.00 on the 13th of the month.
2. Rezolute Bio (NASDAQ:RZLT)
Year-to-date gain: 408.25 percent
Market cap: US$273.53 million
Share price: US$4.94
Late-stage biopharma company Rezolute is developing novel therapies targeting rare and chronic metabolic diseases. At the top of the company’s drug pipeline is RZ358, which is being studied for the treatment of congenital hyperinsulinism and tumor hyperinsulinism. The company also has RZ402, which is targeted for patients with diabetic macular edema.
RZ358 is currently in global Phase 3 clinical studies for congenital hyperinsulinism, with topline data expected in mid-2025. It opened to US participation in September after the US Food and Drug Administration (FDA) removed partial clinical holds.
In March, Rezolute shared results from a preclinical study that validated RZ358’s potential to treat patients with non-islet cell tumors that have uncontrolled hypoglycemia. Rezolute announced positive topline results for its Phase 2 study of RZ402 in May.
The company closed on a public offering with net proceeds of about US$56.4 million in June, which will help to fund post-phase 3 planning for its RZ358 program in congenital hyperinsulinism as well as a potential late-stage, registrational, clinical study of RZ358 in patients with tumor hyperinsulinism associated with islet cell and non-islet cell tumors.
In August, the FDA granted clearance for Rezolute’s investigational new drug application for a Phase 3 study of RZ358 in tumor hyperinsulinism. Patient enrollment is slated to begin in the first half of 2025.
This NASDAQ biotech stock had a great run up in the second quarter this year, posting a year-to-date high of US$6.09 on June 5.
3. Candel Therapeutics (NASDAQ:CADL)
Year-to-date gain: 346.31 percent
Market cap: US$213.52 million
Share price: US$6.66
Candel Therapeutics is another NASDAQ biotech company focused on developing oncology treatments. The company’s pipeline includes two clinical stage multimodal biological immunotherapy platforms.
Candel’s lead product candidate CAN-2409 is in a Phase 2 clinical trial in non-small cell lung cancer and borderline resectable pancreatic cancer, as well as Phase 2 and 3 trials for localized, non-metastatic prostate cancer. Positive interim data for the trial on pancreatic cancer, released on April 4, sent the company's share price spiking upwards.
Its second lead product candidate is CAN-3110, which is in an ongoing Phase 1 clinical trial in recurrent high-grade glioma (HGG).
The company has had a number wins with the FDA this year. In February, Candel’s CAN-3110 received regulatory approval for a fast-track designation for the treatment of recurrent HGG. The agency also granted Candel orphan drug designation for CAN-2409 for the treatment of pancreatic cancer in April and CAN-3110 for HGG in May.
Candel is another NASDAQ biotech stock that had an excellent second quarter this year. After spiking on positive interim trial data for CAN-2409 in April, it continued climbing to hit a year-to-date high of US$14.30 on May 16.
4. Benitec Biopharma (NASDAQ:BNTC)
Year-to-date gain: 195.33 percent
Market cap: US$100.7 million
Share price: US$9.48
California-based Benitec Biopharma is advancing novel genetic medicines via its proprietary “Silence and Replace” DNA-directed RNA interference platform. The company is currently focused on developing therapeutics for chronic and life-threatening conditions including oculopharyngeal muscular dystrophy (OPMD). Its drug candidate BB-301 was granted orphan drug designation by the FDA and the European Medicines Agency.
In April, Benitec reported positive interim clinical trial data for its first OPMD subject treated with BB-301 in its Phase 1b/2a study. Following the report, Benitec's share price began trending upward, and reached its then highest point in 2024 on May 20 at US$10.47 before falling back to US6.30 in late June. The company reported additional positive interim safety and efficacy data in mid-July, which boosted its share price once again to US$10.41 on July 16.
Benitec is well-funded to advance its BB-301 clinical development program through the end of 2025. The company's share price hit its highest year-to-date value on October 1 at US$12.89.
5. Cardiol Therapeutics (NASDAQ:CRDL)
Year-to-date gain: 141.01 percent
Market cap: US$137.67 million
Share price: US$1.97
Biopharma company Cardiol Therapeutics is developing novel treatments for inflammation and fibrosis in cardiovascular conditions, including pericarditis, myocarditis, and heart failure.
The company has two drug candidates in its pipeline: CardiolRX, an orally administered cannabidiol under clinically studied for use in rare heart diseases, including recurrent pericarditis and acute myocarditis; and CRD-38, a drug formulation of cannabidiol that is administered subcutaneously for treating heart failure.
The FDA granted CardiolRx orphan drug designation in February. Cardiol released positive top-line results in mid-June for its Phase 2 open-label pilot study investigating the safety, tolerability and efficacy of CardiolRx in patients with recurrent pericarditis. The company believes the results will support moving the drug to Phase 3 clinical trials.
The positive news flow contributed to the strong momentum the stock has enjoyed this year, leading to a year-to-date share price high of US$3.12 on June 12.
An upcoming catalyst for Cardiol is the expected mid-November presentation of full clinical data for its aforementioned Phase 2 open-label study of CardiolRx for recurrent pericarditis.
Don’t forget to follow us @INN_LifeScience for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Cardiol Therapeutics Files Preliminary Prospectus Supplement for Proposed Public Offering of Common Shares
The Company intends to use the net proceeds from the Offering to support the clinical development of CardiolRx for the treatment of recurrent pericarditis, and for general and administrative expenses, working capital and other expenses.
Canaccord Genuity is acting as the sole bookrunner in connection with the Offering.
The Offering is expected to be priced in the context of the market, with the final terms of the Offering to be determined at the time of pricing. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The closing of the Offering will be subject to customary closing conditions, including the listing of the Common Shares on the Toronto Stock Exchange (the "TSX") and the Nasdaq Capital Market (the "Nasdaq") and any required approvals of the TSX and Nasdaq.
The Supplement and accompanying Base Prospectus contain important detailed information about the Offering. The Supplement and accompanying Base Prospectus can be found on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Copies of the Supplement and accompanying Base Prospectus may also be obtained from Canaccord Genuity LLC, 1 Post Office Square, Suite 3000, Boston, Massachusetts 02109, Attn: Syndicate Department, or by email at prospectus@cgf.com. Prospective investors should read the Supplement and accompanying Base Prospectus and the other documents the Company has filed before making an investment decision.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.
About Cardiol Therapeutics
Cardiol Therapeutics Inc. is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease.
Cautionary statement regarding forward-looking information:
This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events, or developments that Cardiol believes, expects, or anticipates will, may, could, or might occur in the future are "forward-looking information". Forward looking information contained herein may include, but is not limited to statements regarding the Offering, the anticipated size and terms of the Offering, and the anticipated use of proceeds from the Offering. Forward-looking information contained herein reflects the current expectations or beliefs of Cardiol based on information currently available to it and is based on certain assumptions and is also subject to a variety of known and unknown risks and uncertainties and other factors that could cause the actual events or results to differ materially from any future results, performance or achievements expressed or implied by the forward looking information, and are not (and should not be considered to be) guarantees of future performance. These risks and uncertainties and other factors include the risks and uncertainties referred to in the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission and Canadian securities regulators on April 1, 2024, as well as the risks and uncertainties associated with product commercialization and clinical studies. These assumptions, risks, uncertainties, and other factors should be considered carefully, and investors should not place undue reliance on the forward-looking information, and such information may not be appropriate for other purposes. Any forward-looking information speaks only as of the date of this press release and, except as may be required by applicable securities laws, Cardiol disclaims any intent or obligation to update or revise such forward-looking information, whether as a result of new information, future events, or results, or otherwise. Investors are cautioned not to rely on these forward-looking statements and are encouraged to read the Supplement, the accompanying Base Prospectus and the documents incorporated by reference therein.
For further information, please contact:
Trevor Burns, Investor Relations +1-289-910-0855
trevor.burns@cardiolrx.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226067
News Provided by Newsfile via QuoteMedia
Strategic Acquisition and Capital Raising - Investor Presentation | 3 October 2024
Elixinol Wellness Ltd. (”EXL”) has entered into a binding agreement to acquire 100% of the business assets from the entities ("Acquisition") that together form The Healthy Chef business ("Healthy Chef").
ACQUISITION PURCHASE PRICE
- The aggregate total Purchase Price will be between $3.1 million - $5.5 million, with the final amount determined on1st March 2028(Final Settlement). ThePurchase Price willbe calculated on a sliding scale with a minimum of $3.1 million and a maximum of $5.5 million if the grossrevenue generated by Healthy Chef in Financial Year 2027 is over $10 million.
- ThePurchase Price comprises:
a) Ordinary Shares in EXLto the valueof $400,000 (Consideration Shares), calculated at 30-day VWAP on 10 September, subject to shareholder approval and under a 12-month escrow period
b) The remainder of the Purchase Price to be paid incash according tothe agreed Deferred Payment Schedule
DEFERRED PAYMENT SCHEDULE
- EXL agrees to pay Healthy Chef:
a) $600,000 in upfront cash at the closing of the proposed Transaction (Completion)
b) $450,000 in cash on the 1st annual anniversary of Completion
c) $600,000 in cash on the 2nd annual anniversary of Completion
d) The remainder of the Purchase Price to be paid in cash on the Final Settlement date
FUNDING
- Funding of the Acquisition will consist of:
a) A single-tranche placement of $1.1 millionand Share PurchasePlan (SPP) to raise up to $0.5 million
b) Canaccord Genuity is acting as Lead Manager to the Equity Raising, see Pg. 25 for details
c) Deferred consideration is anticipated to be funded from operational cashflow
Click here for the full ASX Release
This article includes content from Elixinol Wellness Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Significant Progress with B7-H3 Targeting Radio-Antibody (BetaBart)
Radiopharm Theranostics (ASX:RAD, “Radiopharm” or the “Company”), a clinical-stage biopharmaceutical company focused on developing innovative oncology radiopharmaceuticals for areas of high unmet medical need, is pleased to announce regulatory and manufacturing progress for its B7-H3 targeting radio-antibody, BetaBart.
- Pre-IND meeting request with FDA submitted
- First GMP batch of antibody + chelator successfully produced
The strong preclinical data package combined with GMP quality production, supported the pre-IND submission to the US Food and Drug Administration (FDA). Preparations are on track to prepare the IND submission with the FDA and subsequently start the Phase I/II First-In-Human (FIH) therapeutic trial with BetaBart in multiple tumour types in the US, expected for mid-2025.
B7-H3 is an immune checkpoint molecule that is overexpressed in several tumour types, and represents a highly attractive target for antibody-based cancer immunotherapy. Deregulated B7-H3 expression is linked with tumour aggressiveness and poor outcomes. BetaBart is the first and only targeted radiopharmaceutical in development against the 4Ig subtype of B7-H3, which is the most common subtype expressed on human tumours.
Multiple preclinical studies with BetaBart show tumour shrinkage and prolonged survival in animals treated with this radiotherapeutic agent. The monoclonal antibody, invented at MDACC, has been specifically engineered with a shorter blood circulation time and reduced affinity for on-target off- tissue toxicity, leading to a final molecule that is highly promising for human use in clinical settings.
BetaBart will be used in the planned FIH clinical trial as a 177 Lutetium-conjugated therapeutic. The supply chain of the isotope Lu177 has been secured by multiple contracts.
Radiopharm’s Managing Director and CEO Riccardo Canevari said: "We are extremely pleased with the strong collaboration with MD Anderson and the early results we saw with BetaBart (RV-01) are impressive, so we’re looking forward to developing this further."
Dr David Piwnica-Worms of the MDACC Department of Cancer Systems Imaging said: "It has been an exciting and rewarding journey for our research team to be working with our strong partners at RAD to bring this antibody through the regulatory steps required for human testing."
About Radiopharm Theranostics
Radiopharm Theranostics is a clinical stage radiotherapeutics company developing a world-class platform of innovative radiopharmaceutical products for diagnostic and therapeutic applications in areas of high unmet medical need. Radiopharm has been listed on ASX (RAD) since November 2021. The company has a pipeline of distinct and highly differentiated platform technologies spanning peptides, small molecules and monoclonal antibodies for use in cancer, in pre-clinical and clinical stages of development from some of the world’s leading universities and institutes. The pipeline has been built based on the potential to be first-to-market or best-in-class. Learn more at Radiopharmtheranostics.com.
Click here for the full ASX Release
This article includes content from Radiopharm Theranostics, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Completion of Divesture of Non-US Assets
Hydration solutions company The Hydration Pharmaceuticals Company Limited (ASX: HPC) (“Hydralyte US” or “the Company”) refers to its announcement released pre-open on 2 October 2024 regarding entry into an Intellectual Property Sales Agreement (the ‘Agreement’) and related documents with Prestige Consumer Healthcare Inc. and associated subsidiaries.
Hydralyte US is pleased to announce that the Agreement has completed and the sale proceeds of approximately US$9.45m (A$13.7m) have been received.
Click here for the full ASX Release
This article includes content from The Hydration Pharmaceuticals Company Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Divesture of Non-US Assets for ~US$9.5M (~A$13.7M) Allowing for Payoff of A$8.2M Debt Facility while Funding Expansion of US Business
Hydration solutions company The Hydration Pharmaceuticals Company Limited (ASX: HPC) (“Hydralyte North America” or “the Company”) is pleased to announce that it has entered into an Intellectual Property Sales Agreement (the ‘Agreement’) with Prestige Consumer Healthcare Inc. and associated subsidiaries (together, ‘Prestige’). Pursuant to the Agreement and associated arrangements, the Company will assign and transfer the exclusive right to sell Hydralyte products, and associated intellectual property rights, to Prestige in all relevant jurisdictions other than the United States of America.1
HIGHLIGHTS
- Divestiture of Hydralyte’s non-US assets to Prestige Consumer Healthcare Inc and associated subsidiaries.
- Total proceeds of ~US$9.5m includes US$8.3m for all non-US territories plus US$1.2m for stock and inventory (subject to final adjustments).
- The sale price of ~A$13.7m represents a significant premium over HPC’s market capitalisation of A$2.7m at 30 September 2024.
- Company retains full ownership of US-based operations, which are achieving annualised revenue of US$3.8m (unaudited, based on Q2 FY24 annualised) – US assets have considerable scope to grow.
- Divesture allows for the full repayment of debt and provides new capital to drive sales and margin growth from continuing US operations.
- Near-term US market growth strategy will focus on scalable ecommerce channels and products – follows recent momentum on Amazon USA, which has generated five consecutive months of positive net contribution margin.
- Divesting the non-US territories greatly simplifies the business structure and allows for a significantly reduced cost base with a deleveraged balance sheet.
- Additional cost efficiencies will be implemented with a focus on achieving cashflow breakeven.
Under the terms of the Agreement (which is dated 1 October 2024), Hydralyte US will receive consideration of US$8.25m plus the value of stock and prepaid inventory in the relevant jurisdictions, valued at approximately US$1.2m (subject to post-completion adjustments). The final cash consideration, including stock and prepaid inventory, is expected to be approximately US$9.5m (A$13.7m).
All conditions precedent to completion of the Agreement have been satisfied and the Agreement will complete in the coming days.
The Company has also agreed a Transition Services Agreement with Prestige, which covers the period of operational transition, and certain other related agreements.
With the funds received from the sale, the Company will repay its existing A$8.2m debt facility owed to Pure Asset Management (refer ASX announcement: 27 March 2024), with the remaining cash at bank to be used towards closing and restructure costs and advancing operations in the US market. The Company is focussed on achieving scale and cashflow breakeven in the US, targeting profitability in the future.
Use of Funds:
*Unaudited management estimate. Final balance will be determined post-completion.
Rationale:
On 27 March 2024 the Company announced that it intended to seek a sale transaction. Since that time, the Board has considered a range of options to divest part or all of the Company’s business.
The Board considers that the Prestige transaction will effectively deleverage the Company’s balance sheet and provide Hydralyte US with an opportunity to pursue its growth strategy in the potentially lucrative US market for the benefit of shareholders. This US growth strategy will be underpinned by a significant increase in balance sheet strength, with no debt and a stronger cash position to flexibly pursue targeted opportunities for sales and margin growth.
Streamlined operations:
Hydralyte US will focus on driving growth and unlocking value from its US-based assets. At present, Hydralyte US’s operations are annualising net revenues of approximately US$3.8m on an unaudited basis based on Q2 FY24.
The Company will maintain a presence with American bricks and mortar retail outlets but its targeted growth strategy in the US market will focus on ecommerce channels, where it already has an established footprint.
Most recently, the Company has achieved considerable net margin growth since Q1 CY23. Further, Amazon USA has achieved five consecutive months of positive net contributions and margin growth.
Click here for the full ASX Release
This article includes content from The Hydration Pharmaceuticals Company Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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