Gelteq Announces 400,000 Units Enter into Production in November 2024
Rhea-AI Summary
Gelteq (NASDAQ: GELS) announces the production of 400,000 units of its gel solution in November 2024. The production run includes nutraceutical products for sports, anti-aging, and weight loss, fulfilling orders for clients in the U.S. and Australia. Delivery is expected in January 2025, with sales extending to the UAE and Asia. The company states this production milestone follows their recent IPO and demonstrates their ability to execute large-scale sales while maintaining research and development activities. Gelteq also highlights their strengthened partnership with Monash Innovation Labs to ensure quality and scalability.
Positive
- Secured orders for 400,000 units of gel solution products
- Geographic expansion with sales across multiple regions (US, Australia, UAE, Asia)
- Production commenced shortly after IPO, indicating strong market demand
- Partnership with Monash Innovation Labs enables scalable production
Negative
- Revenue generation still pending as delivery expected in January 2025
News Market Reaction 1 Alert
On the day this news was published, GELS gained 2.76%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
NEW YORK, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Gelteq Limited (NASDAQ: GELS) (“Gelteq” or the “Company”), a clinical and science-based company focused on developing and commercializing white label gel-based delivery solutions for prescription drugs, nutraceuticals, pet care, and other products, announces today that in November, 400,000 units of its gel solution are entering into production. These units will fulfill orders made for clients in the U.S and Australia. Delivery is expected in January 2025 for sales across the two countries as well as in the UAE and in Asia. The production run includes Gelteq nutraceutical products in the areas of sports, anti-aging, and weight loss.
Gelteq Co-Founder and CEO Nathan Givoni stated, “Our recent IPO was undertaken to provide the necessary capital and awareness of our technology to commence larger scale sales, whilst balancing our research and development activities. To see such volumes entering production so soon after the IPO is a testament to our team executing our plans, together with market validation on our gel-based technology. This production run demonstrates our ability to sell our products to end-users across the world and our ability to begin deriving revenues in the near term.”
Gelteq Co-Founder and Executive Chairman Simon Szewach stated, “Earlier this year, we strengthened our partnership with Monash Innovation Labs, which allows us to effectively scale and meet our client needs, while ensuring the quality of products. The orders connected to this production run are substantial and we believe that they represent the start of even larger volume orders to come.”
About Gelteq Inc.
Headquartered in Melbourne, Australia, Gelteq (NASDAQ: GELS) is a clinical and science-based company that is focused on developing and commercializing white label gel-based delivery solutions for prescription drugs, nutraceuticals, pet care and other products. Gelteq is focused on advancing and commercializing its delivery solutions within five core verticals: pharmaceuticals, over-the-counter medications, nutraceuticals, animal medications, and sports nutrition. Gelteq’s unique formulation directly addresses the issues associated with traditional drug delivery methods such as difficulty swallowing, taste of unpalatable ingredients, and dosage control. For more information, visit www.gelteq.com.
Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “suggest,” “target,” “aim,” “should,” "will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Gelteq’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including risks related to the timing and fulfilment of current and future orders relating to Gelteq’s products, the success of new programs, the ability to implement a new strategic plan and the success of a new strategic plan. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gelteq in general, see the risk factors in its annual report for the year ended June 30, 2024. All such forward-looking statements speak only as of the date they are made, and Gelteq undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise.
Contact:
CORE IR
516-222-2560
PR@gelteq.com
FAQ
How many units of gel solution is Gelteq (GELS) producing in November 2024?
When will Gelteq (GELS) deliver the November 2024 production units?
Which markets will Gelteq (GELS) distribute its November 2024 production to?
What types of products are included in Gelteq's (GELS) November 2024 production run?
