Redondo Beach, CA, June 22, 2018 (GLOBE NEWSWIRE) — SECFilings.com, a leading financial news and information portal offering free real time public company filing alerts, announces the publication of an article covering Innovus Pharmaceuticals Inc. (OTCQB: INNV), a developer of over-the-counter healthcare products showing triple-digit revenue growth and narrowing net losses. Small-cap stocks have outperformed the major indexes over the past 52 weeks — the Russell 2000 returned about 17% compared to just around 14% for the S&P 500. While there are many different small-cap companies to consider, investors looking for the greatest upside potential may want to consider companies with strong revenue growth (product-market fit) and improving profitability (financial discipline).
Strong Growth & Narrowing Losses
Innovus Pharma’s revenue more than doubled to $4.5 million during the first quarter of 2018, compared to same quarter last year, driven by the expansion of its Beyond Human™ sales and marketing platform. In fact, 1Q18 revenues approached the $8.8 million revenue figure from all of 2017, setting the company on a path of steep revenue growth and leading to projections of yearly revenue in the $20+ million range. At the same time, Innovus Pharma’s gross margins rose to more than 80% and helped cut its net losses as a percentage of revenue from 73.8% for the fiscal year 2017 to 29.2% for the first quarter of 2018. Management hopes to reach bottom-line profitability in the near-term without sacrificing its investment in top-line revenue growth.
“We are delighted with our first quarter net revenue of $4.5 million, which beat our previously announced first quarter expectations,” said President & CEO Bassam Damaj. “We are confident in our business strategy and our ability to grow our sales revenue through our continuously expanding and proprietary Beyond Human™ sales and marketing channels and to develop new products that satisfy the needs of our growing customer base.”
With $5 million in cash on its balance sheet raised from warrants and notes payable, the company is well positioned to strengthen and advance its product pipeline while expanding its Beyond Human™ sales and marketing platform both in the United States and abroad. The company launched seven new products in the United States, three new products in Canada, and signed a distribution agreement in the Middle East and North Africa during the first quarter. Overall, Innovus Pharma is currently selling 31 products in the U.S. and 12 products internationally.
Expanded Products & Geographic Reach
Innovus Pharma has begun expanding its Beyond Human™ platform into the Canadian market over the past several months. Since the end of the first quarter, the company announced the launch of Vesele®, the approval of ProstaGorxÔ for Benign Prostate Hyperplasia and launched AllerVarx™ for Allergic Rhinitis, and others in Canada. These new products could generate significant revenue in Canada if its U.S. revenue is any indicator.
In the U.S., the company received FDA clearance for its GlucoGorx™ Glucose Monitoring Device Test Kit. Management currently expects to launch the new product during the second half of the year, targeting the 18.2 million Americans suffering from diabetes. The product will be eligible for reimbursement and government supply programs that could expand its addressable market and potentially support upsells to its other product lines down the road.
The company has also been expanding outreach for its Fluticare® product that could have mass market appeal. In May, the company exhibited at the American Thoracic Society event in San Diego, CA, which was attended by over 16,000 professionals. The presentation at the show was part of an expanded marketing and sales outreach to medical professionals that recommend allergy products and related supplements to their patients.
Innovus Pharmaceuticals, Inc. (OTCQB: INNV) continues to make significant progress in expanding its product lines and distribution channels. With triple-digit revenue growth and narrowing net losses, the company is zeroing in on bottom-line profitability over the near-term. In light of these advancements, SeeThruEquity analysts recently issued an update on the stock and assigned a $0.70 price target — a 500 percent premium to the current market price.
Investors may want to take a closer look at the stock moving into the second half of the year given the GlucoGorx™ launch and other catalysts. With its Beyond Human™ sales and marketing platform in place, the company has a low-risk way to launch a growing portfolio of products to build long-term shareholder value.
Please follow the link to read the full article: http://analysis.secfilings.com/articles/203-innovus-pharmaceuticals-inc-strong-growth-in-the-otc-personal-care-market
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