Welcome to our dedicated page for Petvivo Holdings news (Ticker: PETVW), a resource for investors and traders seeking the latest updates and insights on Petvivo Holdings stock.
Petvivo Holdings, Inc. (PETVW) is a pioneer in developing innovative biomedical devices for companion animals, leveraging human medical advancements to address veterinary health challenges. This dedicated news hub provides investors and industry professionals with essential updates on the company's progress in pet therapeutics.
Access real-time announcements covering regulatory milestones, product developments, and strategic partnerships. Our curated collection includes earnings reports, technology licensing updates, and clinical trial progress related to PETVW's portfolio of joint care solutions like the Spryng™ OsteoCushion™ system.
Key updates focus on commercialization efforts for veterinary medical devices, intellectual property expansions, and market penetration strategies. Stay informed about PETVW's unique approach to adapting human biomaterials for animal health applications through this comprehensive news resource.
Bookmark this page for direct access to verified company communications and third-party analysis. Check regularly for developments in PETVW's mission to enhance animal mobility through advanced therapeutic solutions.
PetVivo Holdings reported fiscal 2024 results, showing a 6% revenue increase to $969,000 and a gross profit of $740,000, or 76.3% of revenues. Sales of Spryng™, their lead veterinary medical device, rose by 15% to $732,000. Operating expenses increased 20% to $11.4 million, primarily due to higher general and administrative expenses and R&D costs. The net loss totaled $11.0 million or $(0.78) per share, compared to a net loss of $8.7 million or $(0.85) per share in fiscal 2023. The company plans further expansion in fiscal 2025, expecting net revenue of $1.5 million to $2.0 million.
Operationally, PetVivo achieved distribution of Spryng™ to over 700 veterinary clinics across 50 states and reported positive clinical study results. The company expanded its distribution network, partnering with Covetrus North America. New key appointments include Garry Lowenthal as CFO and Spencer Breithaupt to the board of directors.
PetVivo will hold a conference call on June 28, 2024, at 5:00 p.m. ET to discuss fiscal Q4 and annual results ended March 31, 2024. The financial results will be released prior to the call. Management will present and answer questions. Dial-in and webcast replay options are available.
PetVivo Holdings has appointed Bryan Monninger as their new VP of Sales. Monninger brings over 20 years of experience in sales and marketing, including senior roles at NOVUS, Colgate-Palmolive, Lintbells, and ConAgra. He will lead PetVivo's sales and distribution teams to expand the market adoption of their animal osteoarthritis product, Spryng™ with OsteoCushion™ Technology. Monninger's extensive background includes successful market entries, strategic planning, and sales growth acceleration. CEO John Lai expects Monninger's expertise to drive PetVivo's growth and expand their market reach both domestically and internationally.
PetVivo Holdings announced that April Boyce has joined as Vice President of Marketing. Boyce, with over 20 years of experience in consumer-packaged goods (CPG) marketing, sales, and strategic partnerships, has held significant roles at Procter & Gamble and Clorox. At Clorox, she led the shopper marketing division and formed strategic partnerships with companies like Burt's Bees, Coca-Cola, and Tyson Foods. Her most recent role was Chief Commercial Officer at pet tech start-up, Link. Boyce aims to enhance awareness and understanding of PetVivo's veterinary medical device, Spryng with OsteoCushion Technology.
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