Welcome to our dedicated page for INVO BioScience news (Ticker: INVO), a resource for investors and traders seeking the latest updates and insights on INVO BioScience stock.
INVO Bioscience, Inc. (Nasdaq: INVO) is a healthcare services company dedicated to expanding access to advanced reproductive technology. Specializing in fertility treatment, INVO focuses on making fertility care more accessible and inclusive. The company operates through dedicated fertility clinics called INVO Centers, and also acquires profitable in vitro fertilization (IVF) clinics in the United States. Their proprietary technology, the INVOcell® device, allows fertilization and early embryo development to occur within a woman's body, a groundbreaking method known as Intravaginal Culture (IVC).
INVO Bioscience's recent strategic initiatives have included the acquisition of US-based IVF clinics and the opening of three INVO Centers in North America. The company's commercial strategy is built around selling products directly to physicians, and via distributors to IVF centers and medical practices.
On October 23, 2023, INVO announced a definitive merger agreement with NAYA Biosciences Inc. The merger, an all-stock transaction, aims to form a combined entity named NAYA Biosciences, which will operate under a NASDAQ listing. The merged company will focus on fertility, oncology, and regenerative medicine, leveraging NAYA's capabilities in cell and gene therapy, and artificial intelligence.
The merger is expected to provide INVO with new capital to expand its fertility clinic network across the United States and advance NAYA's oncology therapeutics. This agreement is a major step forward, with NAYA's shareholders set to own approximately 88% of the combined company and INVO shareholders 12%, pending shareholder approval and other conditions.
Financially, INVO Bioscience has shown a strong performance with significant revenue growth. For the three months ended September 30, 2023, the company reported a revenue increase of 314% compared to the same period in 2022. The company's ongoing strategic focus aims at achieving profitability by 2024, fueled by growth from its INVO Centers and efficient management of operating expenses.
INVO Bioscience is committed to making advanced fertility treatments more affordable and accessible worldwide, offering a natural and less invasive alternative to traditional IVF methods with the INVOcell® device.
On March 27, 2023, INVO Bioscience (NASDAQ: INVO) announced the closure of a registered direct offering of 3,680,000 shares of common stock, along with a concurrent private placement of warrants to purchase 5,520,000 shares. The total proceeds from these offerings are approximately $3 million before expenses. Each share and warrant combination was priced at $0.815, with warrants having an exercise price of $0.63 and expiring in eight years. Maxim Group LLC served as the placement agent for this offering, which aims to enhance the company’s financial resources for expanding access to its INVOcell® fertility treatment solutions.
On March 24, 2023, INVO Bioscience announced a registered direct offering and private placement, securing approximately $3 million from an institutional investor. The deal includes the sale of 3,680,000 shares of common stock at an effective price of $0.815 each, with warrants for up to 5,520,000 shares at an exercise price of $0.63. The offering is set to close around March 27, 2023, subject to customary conditions. Maxim Group LLC serves as the placement agent. This funding aims to enhance the accessibility of INVOcell®, the company's innovative intravaginal culture device.
INVO Bioscience has announced the acquisition of Wisconsin Fertility Institute for $10 million, aimed at enhancing its operational scale and revenue. This acquisition is expected to generate over $5 million in additional annual revenue and positive net income.
Wisconsin Fertility Institute reported $5.5 million in revenue and $1.9 million in net income for the trailing 12-month period ending September 30, 2022. The acquisition represents a significant step in INVO's growth strategy, which includes establishing new INVO Centers and partnerships with existing IVF clinics. The transaction is set to close in Q2 2023.
INVO Bioscience, Inc. (Nasdaq: INVO) has announced a distribution agreement with Ming Mei Technology Co. Ltd to distribute its INVOcell® product in Taiwan. This exclusive agreement will initially last for one year, with options for renewal. Ming Mei is a significant player in Taiwan's reproductive medicine market, holding approximately 90% coverage of related devices. Steve Shum, CEO of INVO, expressed enthusiasm for the partnership, highlighting Taiwan's low birth rates and the rising costs associated with fertility treatments.
INVO Bioscience, Inc. (Nasdaq: INVO) announced the appointment of Dr. Shelly W. Holmström as the physician operator for its new INVO Center in Tampa, Florida. The center aims to provide advanced fertility care utilizing the INVOcell® solution, designed to be affordable and effective. With a population of 2.9 million, the Tampa area represents a significant market for fertility services. Dr. Holmström brings over 20 years of experience and is expected to enhance the center's operations and community outreach. The center is part of INVO's strategy to expand its presence in key markets across the U.S.
INVO Bioscience has announced the birth of the first baby in Malaysia using its INVOcell technology, marking a significant milestone for the company. Born on November 11, 2022, the baby was part of a peer-reviewed study comparing INVOcell and conventional IVF. The study revealed comparable fertilization rates and better blastulation rates for INVOcell. As the global fertility market nears $47.9 billion by 2030, INVOcell offers a cost-effective alternative to traditional IVF, enhancing access to reproductive care. The company's strategy includes expanding dedicated INVO Centers to improve service availability.
INVO Bioscience reported robust financial results for Q3 2022, showcasing a 484% revenue increase to $235,321 compared to Q3 2021. Clinic revenue surged 1,100% year-over-year, reaching $450,131, while product sales escalated 2,012% to $58,926. Gross profit margins improved to 54%. Operating expenses saw only a slight increase; selling, general, and administrative expenses rose to $2.5 million. The company continues to advance the establishment of new centers in Florida and California, indicating strong growth potential in the fertility market.
INVO Bioscience will announce its financial results for Q3 2022 on November 14, 2022, post-market close. The results pertain to the period ending September 30, 2022. A conference call for investors is scheduled for the same day at 4:30 pm ET, accessible via phone and live webcast. INVO Bioscience focuses on innovative fertility treatments, utilizing its patented INVOcell® device. The company aims to enhance global access to affordable fertility care.
INVO Bioscience (NASDAQ: INVO) showcased its INVOcell solution at the 2022 ASRM Congress, emphasizing its role in expanding access to affordable infertility treatments. The global fertility market is expected to reach US$47.9 billion by 2030, with many patients unable to access care. The company is actively opening INVO Centers and seeking acquisitions of established fertility clinics to enhance its commercial strategy. Recent openings include three centers in North America, targeting underserved regions, with expansion plans in Kansas City, Tampa Bay, and San Francisco Bay Area.
INVO Bioscience, Inc. (NASDAQ: INVO), a fertility-focused company, announced a new publication on intravaginal culture (IVC) in Current Opinion in Obstetrics and Gynecology. The review by Dr. Amber R. Cooper discusses IVC as a viable alternative to standard IVF, showing similar success rates and increased accessibility for patients. INVOcell®, the company's flagship device, facilitates this procedure, aiming to provide affordable and effective fertility treatments. Currently, three INVO Centers are operational in North America, contributing to the rising adoption of IVC.
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