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Guardion Health Sciences, Inc. (Nasdaq: GHSI) is a pioneering clinical nutrition company dedicated to improving health through science-based, clinically supported dietary supplements and medical foods. Specializing in solutions for age-related health issues, the company leverages the latest advancements in science and technology to address conditions like age-related macular degeneration (AMD), bone health, eye health, cardiovascular health, and brain health.
Guardion's flagship product, Lumega-Z, is a scientifically formulated medical food designed to restore and maintain macular protective pigment, crucial for combating AMD. Ingredients in Lumega-Z are also believed to support other eye conditions, adding to the product's broad utility.
Core Offerings
- Clinically supported dietary supplements
- Medical foods
The company's product portfolio includes essential nutrients like Calcium, Vitamin D, Vitamin K, Carotenoids, and Omega-3s. These are designed to deliver comprehensive health benefits to consumers, healthcare professionals, and their patients.
Recent Achievements
- The Viactiv® product line reported a 6% revenue increase for the six months ended June 30, 2023, compared to the same period in 2022.
- Robust growth in the Amazon sales channel, a testament to the company's focus on eCommerce initiatives.
In 2024, the company is undergoing significant developments. Institutional Shareholder Services (ISS) has recommended that stockholders vote in favor of proposals related to the sale of the company’s Viactiv brand and subsequent liquidation and dissolution. These proposals promise potential liquidating cash distributions that are expected to surpass recent stock prices, signaling a strategic pivot and potential value generation for stockholders.
Guardion Health Sciences actively collaborates with healthcare professionals and utilizes the expertise of its Science Advisory Board to educate the public on the importance of medical foods and nutrition. This commitment to health education underscores the company's mission to promote overall well-being through scientifically validated nutritional solutions.
Contact Information
For more details, you can reach out to Investor Relations at investors@guardionhealth.com or call 1-800-873-5141 Ext 208.
Guardion Health Sciences, Inc. (Nasdaq: GHSI) reported strong financial results for the year ended December 31, 2022, showing revenues of $11.05 million, a 52.8% increase from $7.23 million in 2021, primarily driven by its Viactiv product line, which accounted for 96% of total revenues. Gross profit rose to $4.52 million, up from $3.11 million, although gross margin decreased to 40.9% from 43.0% due to rising operational costs. The company's loss from operations decreased to $(17.42 million) from $(24.75 million) in 2021, and net loss per share improved to $(14.15) compared to $(52.23). As of year-end, the company held $10.66 million in cash. A strategic review is underway to maximize shareholder value, indicating potential changes in the company's direction.
Guardion Health Sciences, Inc. (Nasdaq: GHSI) has engaged Alantra, LLC as its financial advisor for a strategic review and potential transactions. The company's Board of Directors believes the current market valuation does not reflect its value.
Chairman Robert N. Weingarten emphasized the need to explore options that could enhance stockholder value, including the potential sale of the company or its Viactiv brand. CEO Bret Scholtes acknowledged the company's progress since acquiring Viactiv but recognized the necessity of considering strategic measures in response to current market conditions. No specific timeline for the review has been set, and uncertainty remains regarding the outcomes of this process.
Guardion Health Sciences (GHSI) announced on January 24, 2023, that it has regained compliance with Nasdaq’s minimum bid price requirement of $1.00 per share. This follows a notice from Nasdaq on January 25, 2022, indicating that GHSI's stock had fallen below the required threshold. The compliance was confirmed after GHSI maintained a closing bid price of $1.00 or higher for ten consecutive trading days, from January 9 to January 23, 2023. This achievement allows GHSI to continue its listing on Nasdaq, reaffirming its position in the clinical nutrition market.
Guardion Health Sciences, Inc. (NASDAQ: GHSI) announced a 1-for-50 reverse stock split effective January 6, 2023. This decision, approved by stockholders on January 5, aims to comply with Nasdaq's minimum bid price requirement. The new CUSIP number will be 40145Q500, and approximately 1,232,016 shares will remain outstanding post-split. Despite the action, the company cautions that it may not maintain compliance with Nasdaq requirements in the future. Further details are available in the definitive proxy statement filed with the SEC on December 12, 2022.
Guardion Health Sciences (Nasdaq: GHSI) announced a securities purchase agreement with institutional investors to acquire 495,000 shares of Series C convertible redeemable preferred stock and 5,000 shares of Series D non-convertible redeemable preferred stock at $9.50 per share, raising approximately $4.75 million. The Series C shares can convert into common stock at $0.15768 per share, contingent on stockholder approval for a reverse stock split. Holders of preferred stock can vote on this proposal, and the offering expects to close on November 29, 2022.
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