Welcome to our dedicated page for Guardion Health Sciences news (Ticker: GHSI), a resource for investors and traders seeking the latest updates and insights on Guardion Health Sciences stock.
Guardion Health Sciences Inc (GHSI) delivers innovative medical foods and nutritional solutions targeting age-related health challenges, with particular focus on ocular health. This news hub provides investors and healthcare professionals with verified updates about the company's scientific advancements, regulatory milestones, and market developments.
Access timely reports on clinical research outcomes, product innovations, and strategic partnerships that demonstrate GHSI's commitment to evidence-based nutritional science. Our curated collection includes earnings announcements, FDA updates, and expert insights from the company's scientific advisory board.
Key updates cover three core areas: clinical research developments in macular health support, regulatory progress for medical food formulations, and strategic initiatives enhancing distribution networks. Bookmark this page to stay informed about GHSI's role in advancing condition-specific nutrition through pharmaceutical-grade research methodologies.
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.
