Welcome to our dedicated page for Pure Bioscience news (Ticker: PURE), a resource for investors and traders seeking the latest updates and insights on Pure Bioscience stock.
PURE Bioscience, Inc. (OTCQB: PURE) is a manufacturing company focused on antimicrobial technology for food safety and the food and beverage industry. Its news flow centers on the development, commercialization, and distribution of products built on its patented, stabilized ionic silver platform, particularly silver dihydrogen citrate (SDC), a broad-spectrum, non-toxic antimicrobial agent.
News updates for PURE often include financial results for fiscal quarters and years, where the company reports net product sales, royalty revenue, gross profit, operating expenses, and net loss. These releases also discuss trends in sales across direct customers and distribution networks, as well as efforts to manage operating costs and secure financing through convertible notes payable to related parties.
Another key category of PURE news involves product and technology developments. The company has announced an SDC-based membrane treatment solution for dairy and beverage producers, using its PURE Hard Surface product to address membrane fouling and sanitization in ultrafiltration and reverse osmosis systems. Updates describe performance attributes such as microbial reduction, restoration of throughput, and non-oxidizing behavior, along with pilot work at a California State University Dairy Pilot Processing Center.
PURE also issues news about distribution agreements and partnerships, such as multi-year arrangements with Hydrite Chemical Company and Bonsai, which expand access to its EPA-registered disinfectants, cleaners, and sanitizers across food processing, dairy, transportation, and online channels. Additional releases cover corporate developments, including leadership changes, rebranding initiatives, and proxy-related matters disclosed through SEC filings. Investors and industry observers can use the PURE news feed to follow the company’s operational performance, market expansion efforts, and strategic direction in antimicrobial and sanitation technologies.
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.
PURE Bioscience, Inc. (OTCQB: PURE) has announced the addition of three new members to its Board of Directors: Kristin A. Taylor, David M. Rendall, and Tom Myers, who brings extensive experience in technology and operations management. Taylor and Rendall will serve on the audit and compensation committees. Additionally, Dr. Scott Harris and Dr. Martin Wiedmann have joined the Scientific Advisory Board, enhancing the company’s expertise in environmental health and food safety. These appointments aim to leverage the new members' expertise to drive PURE’s future growth.
PURE Bioscience reported a significant 256% increase in net product sales for Q1 FY2020, totaling $1,417,000, up from $398,000 in the same quarter last year. The net loss narrowed to $180,000, compared to $1.1 million in Q1 FY2019, with net income (excluding share-based compensation) at $49,000. The gross margin decreased to 55% from 61%, attributed to lower-margin products. The company expanded its distribution network across various food safety sectors and is gaining traction in the federal procurement space.