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International Isotopes Inc. (OTCQB: INIS), established in 1995 and headquartered in Idaho Falls, ID, is a leading manufacturer and supplier of a wide range of radioisotope-based products. The company operates through five key segments: Nuclear Medicine Standards, Cobalt Products, Radiochemical Products, Fluorine Products, and Radiological Services.
The Nuclear Medicine Standards segment focuses on producing calibration and reference standards for single photon emission computed tomography (SPECT) imaging, nuclear pharmacies, and dose measuring equipment. Their product line includes dose calibrators, rod sources, and various specialty items.
In the Cobalt Products segment, INIS produces bulk cobalt, manufactures cobalt capsules for radiation therapy, and recycles expended cobalt sources. This segment is notable for its role in providing cobalt-60 sealed sources for medical and industrial applications.
The Radiochemical Products segment is responsible for the production and distribution of radiopharmaceuticals, including sodium iodide I-131, an FDA-approved drug used for treating thyroid cancer. The company is currently the only domestic manufacturer of this critical radiopharmaceutical.
Recently, INIS acquired manufacturing molds, device registrations, and trademarks for AMICI Inc.'s line of nuclear lung ventilation products, enhancing their RadQual business line. This acquisition includes diagnostic and therapeutic products like masks, mouthpieces, and the Swirler® Radioaerosol System.
Financially, INIS has shown a solid growth trajectory. For the nine months ending September 30, 2023, revenue increased by 14% compared to the same period in 2022, primarily driven by sales in the radiochemical and cobalt product lines. The company also reported an improvement in cash and cash equivalents, highlighting its robust financial health.
In terms of leadership, Shahe Bagerdjian was recently appointed as CEO, taking over from long-serving CEO Steve Laflin. Under Mr. Bagerdjian’s leadership, the company is focusing on expanding its medical device and theranostics business lines, supported by a strong balance sheet.
International Isotopes Inc. continues to strengthen its market position and remains committed to innovation and growth within the nuclear medicine and industrial sectors.
International Isotopes Inc. (INIS) reported strong financial results for Q3 2024. Revenue increased by $1,005,888 (34%) to $3,924,244 compared to Q3 2023. The company achieved a net profit of $150,251, marking a $498,856 improvement from the previous year's loss. Theranostics Products revenue grew 42%, while Cobalt Products saw a 147% increase. The Nuclear Medicine segment experienced a 13% decline due to a Cobalt-57 shortage, which was resolved in July 2024. The company launched a new Medical Devices segment with expected commercialization in late 2024.
International Isotopes Inc. (INIS) and Phantech Medical have formed a joint venture called PhanQual to revolutionize calibration sources for pre-clinical imaging. PhanQual will design, manufacture, and distribute long-lived calibration and reference sources, leveraging INIS's RadQual subsidiary and Phantech's innovative technologies. The partnership aims to enhance accuracy in nuclear medicine imaging and theranostics.
Key points:
- RadQual will globally distribute Phantech's entire portfolio of fillable sources
- PhanQual will adapt Phantech's patented fillable calibration source technology into sealed source devices
- The venture targets the R&D and theranostics community
- Both companies plan to incorporate additive manufacturing and AI in future calibration devices
International Isotopes Inc. (INIS) reported financial results for Q2 and H1 2024. Key highlights include:
- Theranostics Sales increased 25% in Q2 and 16% in H1 2024
- Gross Profit improved to 64%, a 7% increase, for H1 2024
- Net Cash Provided from Operations of $288,597 for H1 2024
- Q2 revenue was $3,169,233, up 2% year-over-year
- H1 revenue was $6,073,691, down 2% year-over-year
- Q2 net loss narrowed to $233,445 from $263,302 in Q2 2023
- H1 net loss narrowed to $387,496 from $411,356 in H1 2023
The company saw growth in Theranostics and Cobalt Products, offset by declines in Nuclear Medicine Standards due to a global Cobalt-57 shortage. INIS expects continued growth in Theranostics and anticipates catching up on backlogged Nuclear Medicine orders in H2 2024.
International Isotopes (OTCQB: INIS) announced its fiscal Q1 2024 results, revealing a 6% decline in revenue to $2.90M from $3.09M in Q1 2023 due to global Cobalt-57 isotope shortages. Nonetheless, the Theranostics Products segment experienced an 8% revenue growth, and the Cobalt Products segment saw a 48% increase. Gross profit rose by 5% to $1.87M, while the net loss widened slightly to $154K from $148K in Q1 2023. Operating income also decreased by 80%. Cash and cash equivalents decreased to $2.37M from $2.69M at the end of 2023. Despite isotope constraints, the company anticipates growth in the Nuclear Medicine segment by late Q3 2024 and plans to commercialize new Medical Devices later this year.
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