Nexgel Inc Wt Exp 120126 Stock Price, News & Analysis

NEXGEL, a provider of hydrogel products, has partnered with former lacrosse player Greg Gurenlian to address turf burn injuries through their innovative product, Turfguard. This hydrogel dressing aims to soothe turf burn while protecting athletic wounds, offering athletes a medical-grade solution to pain and infection risk. Gurenlian, with extensive experience in lacrosse, emphasizes the urgency of proper treatment for turf burn issues. Turfguard patches, FDA cleared, maintain a moist wound environment and offer cooling relief, now available for purchase on Amazon.com.

NEXGEL (NASDAQ: NXGL, NXGLW) announced a strategic acquisition of a 50% interest in CG Converting and Packaging, LLC, a joint venture with C.G. Laboratories Inc. This initiative, effective March 1, 2023, aims to enhance capacity, improve margins, and streamline supply chain operations. CG Labs has been a long-time customer and is profitable, making this acquisition beneficial. NEXGEL will invest $500,000 in the JV to upgrade facilities and equipment. The partnership is expected to yield significant synergies, facilitating the onboarding of new customers and combined marketing efforts.

NEXGEL, Inc. (NASDAQ: NXGL, NXGLW) announced the appointment of Scott Henry, CFA, as an independent director to its Board of Directors and a member of the Audit Committee, effective immediately. Mr. Henry brings over 20 years of experience in the pharmaceutical and medical device sectors, having previously worked with notable firms like Oppenheimer and Roth Capital Partners. CEO Adam Levy praised his financial expertise and extensive industry network as vital for future growth initiatives. Henry expressed excitement about joining NEXGEL, highlighting the company's solid assets and significant growth potential.

NEXGEL, Inc. has launched a new hydrogel dressing called Turfguard, targeted for athletes to soothe turf burns and protect against infections. Approved by the FDA, Turfguard patches are designed to kill 99% of harmful bacteria, including staph, MRSA, and strep. These patches maintain a moist healing environment and provide cooling relief, making them ideal for treating superficial wounds in sports settings. Manufactured in Langhorne, Pa., Turfguard is now available for purchase on Amazon.com.

NEXGEL reported a 69.6% year-over-year revenue increase for Q3 2022, totaling $568,000. The gross profit margin improved to 26%, up from a loss the previous year. Cash and equivalents stand at $7.4 million, ensuring operational stability through 2024. The company launched new products and reported positive results from a diclofenac hydrogel study. Despite increased operating expenses, particularly in R&D and SG&A, NEXGEL expects continued revenue and margin growth into 2023.

NEXGEL (NASDAQ: NXGL) will report its third quarter 2022 financial results after market close on November 8, 2022. Following the results, a conference call will be held at 4:30 P.M. ET, which will be accessible via live webcast on NEXGEL's Investor Relations website. A replay will be available until November 15, 2022.

NEXGEL specializes in high-water-content hydrogel products for health and consumer applications and has developed over 200 formulations for gentle skin patches.

NEXGEL (NASDAQ: NXGL, NXGLW) announced positive outcomes from its proof-of-concept study on diclofenac hydrogel patches, aimed at treating pain including arthritis and muscle aches. The study showed that NEXGEL's patches delivered pain relief faster and were longer-acting compared to the leading treatment. These patches adhered to the skin gently for 8-12 hours. CEO Adam Levy expressed optimism about the product's potential and plans for human clinical studies, while seeking strategic partnerships for future development.

NEXGEL (NASDAQ: NXGL, NXGLW) announced the development of a new proprietary hydrogel eye patch to treat amblyopia, commonly known as lazy eye. The patch, expected to be available in the first half of 2023, aims to provide a gentler alternative to traditional eye patches, which can irritate sensitive skin. Amblyopia affects approximately 2-4% of the U.S. population and the global treatment market is projected to exceed $6 billion by 2027. This innovation highlights NEXGEL's commitment to enhancing pediatric care while meeting a growing market demand.

NEXGEL, a provider of high-water-content hydrogel products, announced CEO Adam Levy's participation in two upcoming conferences: the Dawson James Securities 7th Annual Small Cap Growth Conference on October 12, 2022, in Jupiter, Florida, and the LD Micro Main Event XV from October 25-27, 2022, in Los Angeles, California. Levy will speak at the LD Micro conference on October 26 at 8:30 AM PT. Interested investors can schedule 1x1 meetings through their respective representatives.