Welcome to our dedicated page for International Isotopes news (Ticker: INIS), a resource for investors and traders seeking the latest updates and insights on International Isotopes stock.
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. reported a significant 16% increase in revenue for the fiscal year 2022, totaling
International Isotopes Inc. (OTCQB: INIS) reported a 9% revenue increase for the first nine months of 2022, totaling $8,031,522, compared to $7,369,922 in 2021. The company achieved a net profit of $414,328 year-to-date. However, the cost of sales rose by approximately 15%, and operating expenses increased by 19% primarily due to heightened R&D costs. Despite these challenges, the cash balance remains strong at $3,000,000. Management anticipates continued growth in various segments, including radiochemical products.
International Isotopes Inc. (OTCQB: INIS) reported a 10% increase in revenue, totaling $5,242,249 for the six months ending June 30, 2022, compared to $4,752,408 in 2021. The net income for the same period was $982,997, a significant rebound from a loss of $782,539 in 2021, largely due to a $1.8 million gain from asset sales. However, revenue for the second quarter alone decreased by 12% to $2,434,808, driven by diminished cobalt sales. Revenue from radiochemical products surged by 59% for the six-month period.
International Isotopes Inc. reported a net profit of $1.2 million for Q1 2022, a significant turnaround from a loss of $601,152 in the same period last year. Revenue surged by 41% to $2.8 million, driven by a 146% increase in radiochemical product sales and a 45% rise in cobalt product sales. Total operating expenses rose to $2.05 million, resulting in an operating loss of $376,043. Net income per share remained at $0.00.
International Isotopes Inc. (OTCQB: INIS) reported a 3% increase in revenue for 2021, amounting to approximately $9.6 million compared to $9.3 million in 2020. Despite this growth, the company experienced a net loss of $902,347 in 2021, a stark contrast from the $2.2 million income in 2020, primarily due to one-time income from a settlement in 2020. Key achievements included a 5% rise in radiochemical product sales, acquisition of RadQual, and an 11% increase in cobalt product revenues. The company remains optimistic about recovery and new product launches in 2022.
International Isotopes Inc. (OTCQB: INIS) announced the successful completion of an asset purchase agreement with Pharmalogic Holdings Corp. for $4 million. This acquisition involves key manufacturing assets and the subsequent sublease of manufacturing space from INIS. The transaction strengthens INIS's financial position and supports its healthcare-focused business model, which includes FDA-approved treatments for thyroid conditions. CEO Steve Laflin highlighted the potential for future collaborations and emphasized the transition towards higher-margin, growth-oriented operations.
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