Pure Bioscience Inc Stock Price, News & Analysis

Hydrite has secured a multi-year exclusive distribution agreement with PURE Bioscience, Inc. for its PURE® Hard Surface disinfectant in the dairy and plant-based protein markets. This SDC-based product is designed to effectively eliminate foodborne pathogens. With Hydrite's established presence in dairy processing, the partnership aims to enhance food safety and sanitation solutions. The agreement positions PURE® Hard Surface as an essential tool for dairy and plant-based protein facilities, allowing for improved sanitation practices.

PURE Bioscience reported a net product sales decrease to $1.81 million for the fiscal year ending July 31, 2022, down from $3.70 million in 2021. The net loss rose to $3.5 million, compared to $2.3 million the previous year. The company's reliance on distributors has shifted, with a newly formed in-house sales team aiming to capitalize on the janitorial and sanitation markets. Leadership expressed optimism for revenue growth in the upcoming quarters as they broaden their market reach.

PURE Bioscience, Inc. (OTCQB: PURE) reported Q3 financial results for the period ended April 30, 2022. Net product sales fell 11% to $497,000 from $556,000 in the previous year, attributed to reduced distributor sales. Royalties increased to $27,000 from $5,000. The company reported a net loss of $760,000, slightly improved from $811,000 a year earlier. For the nine-month period, net sales decreased 50% to $1.4 million and net loss rose to $2.26 million. New distribution agreements and management hires aim to enhance growth in the food safety and sanitation sectors.

PURE Bioscience reported a 52% decrease in net product sales for Q2, down to $415,000 from $868,000 year-over-year. This decline is attributed to reduced sales in the food processing, transportation, and janitorial sectors. The net loss for the quarter was $702,000, compared to $595,000 in Q2 2021. Over six months, product sales fell 60% to $912,000, with a net loss of $1,498,000 versus $775,000 in the prior year. Despite these challenges, the company is optimistic about its food safety solutions and partnerships in the fresh produce industry.

PURE Bioscience reported fiscal first-quarter results for the period ended October 31, 2021, revealing a net loss of $796,000, compared to $180,000 in the previous year. Net product sales decreased by $920,000 to $497,000 due to lower sales across food processing and janitorial sectors. However, the gross margin improved to 65% from 55%, attributed to higher-margin products. The Company is enhancing marketing efforts and anticipates new partnerships, including a distributor in Canada, to expand its market reach.

PURE Bioscience reported a significant decline in net product sales for the fiscal year ending July 31, 2021, with sales decreasing to $3.7 million from $6.9 million in 2020, a drop of $3.2 million. The company faced a net loss of $2.3 million compared to a net income of $4,000 in the previous year. Gross margin fell to 50% from 58%. However, PURE has strengthened partnerships in the food safety sector and is adopting its antimicrobial solutions across various industries, including schools and produce processing. The company plans to enhance its marketing efforts with a new partner in 2022.

PURE Bioscience reported a 75% decrease in net product sales for Q3 FY2021, totaling $556,000, compared to $2,221,000 in Q3 FY2020. This decline was primarily due to decreased demand from the food processing and transport sectors following the COVID-19 surge in 2020. The company faced a net loss of $811,000 in Q3 FY2021, reversing from a net income of $473,000 in the same quarter last year. For the nine-month period, sales decreased 4% to $2,841,000, with a corresponding net loss of $1,586,000.

PURE Bioscience, Inc. (OTCQB: PURE) announced significant financial growth for Q2 and six months ending January 31, 2021. Q2 net product sales surged 149% to $868,000, with a six-month increase of 206% to $2,285,000, driven by expanded distribution in various industries. Despite a net loss of $595,000 in Q2, a reduction from $666,000 a year prior, the gross margin slightly declined to 58%. Key developments include FDA compliance for their sanitation products and expanded usage by the FAA, enhancing market position and growth potential.

PURE Bioscience, Inc. (OTCQB: PURE) announced the FAA's approval of its PURE Hard Surface sanitizer for use at FAA locations, including airports. This product is the only antimicrobial from the EPA's List N authorized for this use, meeting safety criteria without requiring warning labels or protective gear. Following successful pilot testing, the FAA mandates daily sanitation with PURE Hard Surface across 85 locations. CEO Tom Y. Lee highlighted the partnership with LightHouse, ensuring availability through GSA, promoting employment for the visually impaired.