NexGel, Inc - NXGL STOCK NEWS

NEXGEL announced it will release its financial results for Q4 and full year 2022 on March 27, 2023, after market close.

The company specializes in high-water-content hydrogel products for healthcare and consumer applications, having developed over 200 unique formulations.

A conference call will follow the earnings release at 4:30 PM ET that day, accessible via live call or webcast. A replay will be available until April 3, 2023.

Investors can find more information on NEXGEL’s Investor Relations website.

NEXGEL, a provider of hydrogel products, has partnered with former lacrosse player Greg Gurenlian to address turf burn injuries through their innovative product, Turfguard. This hydrogel dressing aims to soothe turf burn while protecting athletic wounds, offering athletes a medical-grade solution to pain and infection risk. Gurenlian, with extensive experience in lacrosse, emphasizes the urgency of proper treatment for turf burn issues. Turfguard patches, FDA cleared, maintain a moist wound environment and offer cooling relief, now available for purchase on Amazon.com.

NEXGEL (NASDAQ: NXGL, NXGLW) announced a strategic acquisition of a 50% interest in CG Converting and Packaging, LLC, a joint venture with C.G. Laboratories Inc. This initiative, effective March 1, 2023, aims to enhance capacity, improve margins, and streamline supply chain operations. CG Labs has been a long-time customer and is profitable, making this acquisition beneficial. NEXGEL will invest $500,000 in the JV to upgrade facilities and equipment. The partnership is expected to yield significant synergies, facilitating the onboarding of new customers and combined marketing efforts.

NEXGEL, Inc. (NASDAQ: NXGL, NXGLW) announced the appointment of Scott Henry, CFA, as an independent director to its Board of Directors and a member of the Audit Committee, effective immediately. Mr. Henry brings over 20 years of experience in the pharmaceutical and medical device sectors, having previously worked with notable firms like Oppenheimer and Roth Capital Partners. CEO Adam Levy praised his financial expertise and extensive industry network as vital for future growth initiatives. Henry expressed excitement about joining NEXGEL, highlighting the company's solid assets and significant growth potential.

NEXGEL, Inc. has launched a new hydrogel dressing called Turfguard, targeted for athletes to soothe turf burns and protect against infections. Approved by the FDA, Turfguard patches are designed to kill 99% of harmful bacteria, including staph, MRSA, and strep. These patches maintain a moist healing environment and provide cooling relief, making them ideal for treating superficial wounds in sports settings. Manufactured in Langhorne, Pa., Turfguard is now available for purchase on Amazon.com.

NEXGEL, based in Langhorne, PA, has announced a share repurchase program with authorization to buy back up to $500,000 in common shares. This initiative reflects the Company's commitment to enhancing shareholder value, as noted by CEO Adam Levy, who highlighted the attractive investment opportunity represented by the current stock valuation. The repurchases will occur in the open market according to applicable regulations but are not obligatory, allowing flexibility for the Board of Directors to suspend or discontinue the program as needed.

NEXGEL, a leader in high-water-content hydrogel products, announced a virtual fireside chat featuring CEO Adam Levy on December 14, 2022, at 11:00 a.m. ET. The session will cover operational updates, including:

• Positive proof-of-concept results for diclofenac hydrogel patches aimed at treating arthritis and muscle pain.
• Development of a proprietary hydrogel eye patch for treating amblyopia.
• Recent publication of data in SAGE Journals demonstrating significant scar improvement with SilverSeal hydrogel dressing.

Register for the webcast here.

NEXGEL reported a 69.6% year-over-year revenue increase for Q3 2022, totaling $568,000. The gross profit margin improved to 26%, up from a loss the previous year. Cash and equivalents stand at $7.4 million, ensuring operational stability through 2024. The company launched new products and reported positive results from a diclofenac hydrogel study. Despite increased operating expenses, particularly in R&D and SG&A, NEXGEL expects continued revenue and margin growth into 2023.

NEXGEL (NASDAQ: NXGL) will report its third quarter 2022 financial results after market close on November 8, 2022. Following the results, a conference call will be held at 4:30 P.M. ET, which will be accessible via live webcast on NEXGEL's Investor Relations website. A replay will be available until November 15, 2022.

NEXGEL specializes in high-water-content hydrogel products for health and consumer applications and has developed over 200 formulations for gentle skin patches.