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International Isotopes Inc. (INIS), now known corporately as Radnostix, Inc., generates a steady flow of news related to its radioisotope, theranostics, and medical device activities. Headquartered in Idaho Falls, Idaho and incorporated in Texas, the company reports across several segments, including Theranostics Products, Calibration & Reference Products (formerly Nuclear Medicine Standards), Cobalt Products, Medical Devices, and a Fluorine Products segment associated with a proposed de-conversion facility.
News updates frequently cover quarterly and annual financial results, where the company discusses revenue trends, segment performance, gross profit, and the use of non-GAAP measures such as EBITDA and Adjusted EBITDA. These releases often highlight demand for generic sodium iodide I-131 radiopharmaceutical drug product, I-131 theranostic APIs, calibration and reference standards, and Cobalt-60 sealed source products, as well as the impact of global isotope supply conditions, such as shortages of Cobalt-57 and Gadolinium-153.
Investors and industry observers can also find corporate development news, including the legal name change to Radnostix, Inc., governance and bylaw changes, executive employment agreements, and board appointments. Operational news has included expansion of the company’s footprint in Idaho Falls through land acquisition and a new facility lease, which the company states is intended to support capacity growth across its segments.
Product and partnership announcements feature prominently as well. Examples include the creation of the PhanQual joint venture with Phantech Medical for pre-clinical calibration sources, the manufacturing joint venture with Alpha Nuclides to bring INIS and RadQual products into China via Radnostix China, and updates on the RadVent medical device lineup and EasyFill Automated Iodine Capsule System. For users tracking INIS, this news stream provides insight into segment dynamics, supply chain developments, facility expansion, and the company’s evolving theranostics and healthcare focus.
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International Isotopes Inc. reported a significant 16% increase in revenue for the fiscal year 2022, totaling $11.2 million, the highest in the company's history. The net income rose to approximately $300,000, a turnaround from a net loss of about $900,000 in 2021. The radiochemical segment was pivotal, achieving a 41% sales increase and accounting for 54% of total sales. Additionally, the company realized a net gain of $1.8 million from the sale of unused assets. Despite rising costs leading to a decrease in gross profit margin to 56%, the year-end cash balance improved to approximately $2.4 million.
International Isotopes Inc. (OTCQB: INIS) reported a 9% revenue increase for the first nine months of 2022, totaling $8,031,522, compared to $7,369,922 in 2021. The company achieved a net profit of $414,328 year-to-date. However, the cost of sales rose by approximately 15%, and operating expenses increased by 19% primarily due to heightened R&D costs. Despite these challenges, the cash balance remains strong at $3,000,000. Management anticipates continued growth in various segments, including radiochemical products.
International Isotopes Inc. (OTCQB: INIS) reported a 10% increase in revenue, totaling $5,242,249 for the six months ending June 30, 2022, compared to $4,752,408 in 2021. The net income for the same period was $982,997, a significant rebound from a loss of $782,539 in 2021, largely due to a $1.8 million gain from asset sales. However, revenue for the second quarter alone decreased by 12% to $2,434,808, driven by diminished cobalt sales. Revenue from radiochemical products surged by 59% for the six-month period.
International Isotopes Inc. reported a net profit of $1.2 million for Q1 2022, a significant turnaround from a loss of $601,152 in the same period last year. Revenue surged by 41% to $2.8 million, driven by a 146% increase in radiochemical product sales and a 45% rise in cobalt product sales. Total operating expenses rose to $2.05 million, resulting in an operating loss of $376,043. Net income per share remained at $0.00.
International Isotopes Inc. (OTCQB: INIS) reported a 3% increase in revenue for 2021, amounting to approximately $9.6 million compared to $9.3 million in 2020. Despite this growth, the company experienced a net loss of $902,347 in 2021, a stark contrast from the $2.2 million income in 2020, primarily due to one-time income from a settlement in 2020. Key achievements included a 5% rise in radiochemical product sales, acquisition of RadQual, and an 11% increase in cobalt product revenues. The company remains optimistic about recovery and new product launches in 2022.
International Isotopes Inc. (OTCQB: INIS) announced the successful completion of an asset purchase agreement with Pharmalogic Holdings Corp. for $4 million. This acquisition involves key manufacturing assets and the subsequent sublease of manufacturing space from INIS. The transaction strengthens INIS's financial position and supports its healthcare-focused business model, which includes FDA-approved treatments for thyroid conditions. CEO Steve Laflin highlighted the potential for future collaborations and emphasized the transition towards higher-margin, growth-oriented operations.
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International Isotopes Inc. (OTCQB: INIS) announced a one-year extension of the maturity date for its Series C Preferred stock to February 28, 2023. This modification, approved by a majority of Series C Preferred stockholders, aims to facilitate the execution of several near-term business development initiatives. CEO Steve Laflin expressed gratitude to stockholders for their approval, emphasizing the extension's role in optimizing cash reserves for upcoming opportunities.
International Isotopes Inc. (OTCQB: INIS) has announced an exclusive licensing agreement with Memorial Sloan Kettering Cancer Center for a radiolabeled antibody test to detect SARS-CoV-2. This test, which is inexpensive and portable, showed promising efficacy in detecting the virus at concentrations as low as 19700 PFU/mL. The testing procedure is rapid and non-invasive, requiring only a small saliva sample. The agreement allows INIS exclusive rights to commercialize the invention, with plans for potential testing on other viruses. CEO Steve Laflin expressed optimism about the test's future applications.