Welcome to our dedicated page for Radnostix news (Ticker: INIS), a resource for investors and traders seeking the latest updates and insights on Radnostix stock.
Radnostix, Inc. manufactures radioisotope-focused products for medical, industrial and research applications and trades on the OTCQB under INIS. The company, formerly International Isotopes Inc., supplies generic sodium iodide I-131 radiopharmaceutical drug product for hyperthyroidism and thyroid cancer, provides contract drug manufacturing and radioisotope API supply for theranostics clients, and sells calibration and reference standards for nuclear pharmacies, SPECT/PET imaging systems and industrial users through RadQual.
Recurring updates cover operating and financial results across Theranostics Products, Calibration & Reference Products, Nuclear Medicine Standards, Medical Devices and Cobalt Products, along with raw-material supply conditions, product-line updates for EasyFill and RadVent, and the completed corporate rebrand to Radnostix.
International Isotopes (OTCQB: INIS) has amended and finalized its Asset Purchase Agreement with AMICI, Inc. from June 16th, 2023. Due to an inventory and assets shortfall in the original agreement, INIS will now receive manufacturing molds, device registrations, trademarks, and all production rights to AMICI's Xenon System products line, along with registered intellectual property for Swirler® and Tru-Fit™ Mouthpiece products.
AMICI was a prominent manufacturer of diagnostic and therapeutic lung ventilation products, including masks, mouthpieces, bacteria/virus filters, absorbents, and the Swirler® Radioaerosol System. The acquisition will enhance INIS's Medical Device segment, with products to be marketed under their RadVent product line.
International Isotopes Inc. (INIS) reported strong financial results for Q3 2024. Revenue increased by $1,005,888 (34%) to $3,924,244 compared to Q3 2023. The company achieved a net profit of $150,251, marking a $498,856 improvement from the previous year's loss. Theranostics Products revenue grew 42%, while Cobalt Products saw a 147% increase. The Nuclear Medicine segment experienced a 13% decline due to a Cobalt-57 shortage, which was resolved in July 2024. The company launched a new Medical Devices segment with expected commercialization in late 2024.
International Isotopes Inc. (INIS) and Phantech Medical have formed a joint venture called PhanQual to revolutionize calibration sources for pre-clinical imaging. PhanQual will design, manufacture, and distribute long-lived calibration and reference sources, leveraging INIS's RadQual subsidiary and Phantech's innovative technologies. The partnership aims to enhance accuracy in nuclear medicine imaging and theranostics.
Key points:
- RadQual will globally distribute Phantech's entire portfolio of fillable sources
- PhanQual will adapt Phantech's patented fillable calibration source technology into sealed source devices
- The venture targets the R&D and theranostics community
- Both companies plan to incorporate additive manufacturing and AI in future calibration devices
International Isotopes Inc. (INIS) reported financial results for Q2 and H1 2024. Key highlights include:
- Theranostics Sales increased 25% in Q2 and 16% in H1 2024
- Gross Profit improved to 64%, a 7% increase, for H1 2024
- Net Cash Provided from Operations of $288,597 for H1 2024
- Q2 revenue was $3,169,233, up 2% year-over-year
- H1 revenue was $6,073,691, down 2% year-over-year
- Q2 net loss narrowed to $233,445 from $263,302 in Q2 2023
- H1 net loss narrowed to $387,496 from $411,356 in H1 2023
The company saw growth in Theranostics and Cobalt Products, offset by declines in Nuclear Medicine Standards due to a global Cobalt-57 shortage. INIS expects continued growth in Theranostics and anticipates catching up on backlogged Nuclear Medicine orders in H2 2024.
International Isotopes (OTCQB: INIS) announced its fiscal Q1 2024 results, revealing a 6% decline in revenue to $2.90M from $3.09M in Q1 2023 due to global Cobalt-57 isotope shortages. Nonetheless, the Theranostics Products segment experienced an 8% revenue growth, and the Cobalt Products segment saw a 48% increase. Gross profit rose by 5% to $1.87M, while the net loss widened slightly to $154K from $148K in Q1 2023. Operating income also decreased by 80%. Cash and cash equivalents decreased to $2.37M from $2.69M at the end of 2023. Despite isotope constraints, the company anticipates growth in the Nuclear Medicine segment by late Q3 2024 and plans to commercialize new Medical Devices later this year.
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