Nexgel Inc Wt Exp 120126 Stock Price, News & Analysis

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.

NEXGEL has announced promising results from a study published in SAGE Journals regarding its SilverSeal hydrogel dressing. The study involved 40 foot and ankle patients and evaluated post-surgical scarring and complications. Results showed that patients using SilverSeal experienced significant improvements in scar quality, reduced pain, and lower itching at the surgical site compared to those with a standard petroleum-based dressing. No postoperative complications were reported in either group, suggesting SilverSeal's potential in enhancing surgical recovery.

NEXGEL, Inc. (NASDAQ: NXGL, NXGLW) has appointed Dr. Neil Chesen and Dr. Leonard Nelson to its Scientific Advisory Board. Dr. Nelson is a pediatric ophthalmology leader with extensive credentials, including roles at Wills Eye Hospital and Thomas Jefferson University. Dr. Chesen is a seasoned ophthalmologist with over 33 years of experience. Their addition aims to enhance NEXGEL's development of high-water-content hydrogel products for healthcare applications. CEO Adam Levy emphasized that their expertise will significantly aid in advancing the company's innovative hydrogel solutions.

NEXGEL, Inc. (NASDAQ: NXGL, NXGLW) announced that CEO Adam Levy will present at the H.C. Wainwright 24th Annual Global Investment Conference taking place from September 12-14, 2022. The presentation is scheduled for September 14, from 9:00 A.M. to 9:30 A.M. Eastern Time. Interested investors can contact their H.C. Wainwright representative or email NEXGEL@kcsa.com for 1x1 meetings. NEXGEL specializes in high-water-content hydrogel products for healthcare and consumer applications, having over two decades of experience in developing these innovative solutions.

NEXGEL reported a 35% year-over-year revenue growth to $561 thousand for Q2 2022, showing a 42% sequential increase. The rise is attributed to successful launches and demand for branded products, such as MEDAGEL Pro Pads. Gross profit improved to $101 thousand, with an 18% margin. However, operating expenses rose to $819 thousand, driven by increased R&D investments and higher SG&A costs. As of June 30, 2022, cash and equivalents stood at $9.7 million, ensuring a solid financial position for ongoing growth initiatives.