Nexgel Inc Wt Exp 120126 - NXGLW STOCK NEWS

NEXGEL (NASDAQ: NXGL) released its shareholder letter and guidance for 2024-2025, projecting Q4 2024 revenue of approximately $3.0 million and full-year 2024 revenue of $8.6 million, marking over 100% growth year-over-year for the third consecutive year. The company expects to generate at least $13 million in revenue for 2025 and achieve positive cash flow from operations.

The company operates in three core segments: contract manufacturing and white label, consumer products, and medical device development. Their consumer products division saw significant growth in 2024, particularly with the Silly George acquisition growing from $2 million to over $5 million in annual revenue. The company's partnership with Stada is progressing well, with their first product Histasolv exceeding projections and two additional product launches expected in H2 2025.

NEXGEL (NASDAQ: NXGL) has appointed Joseph F. McGuire as Chief Financial Officer, effective January 1, 2025. McGuire, who brings over 30 years of financial and public company experience, has been consulting with NEXGEL since September 2, 2024. He previously served as CFO for several private and public companies in healthcare, financial services, and manufacturing sectors, and was instrumental in guiding a biotech company to NYSE listing in July 2022.

The current CFO, Adam E. Drapczuk III, will transition to a consulting role with the company through his firm, Achieving Consulting Excellence, McGuire, a former Price Waterhouse CPA and Notre Dame graduate, will lead NEXGEL's finance functions as part of the executive management team. The appointment comes as NEXGEL, a provider of medical and OTC hydrogel products, continues to experience high growth.

NEXGEL (NASDAQ: NXGL), a provider of medical and OTC products specializing in ultra-gentle, high-water-content hydrogels, has announced its participation in the upcoming iAccess Alpha Virtual Best Ideas Winter Conference 2024.

Chief Executive Officer Adam Levy will deliver a presentation on Tuesday, December 10th at 10:30 a.m. ET. The two-day conference will take place on December 10-11, 2024. Interested parties can access the webcast presentation through the provided link, and one-on-one investor meetings can be arranged through iAccess representatives or KCSA Strategic Communications.

NEXGEL reported record Q3 2024 revenue of $2.94 million, marking a 141% year-over-year and 104% sequential increase. The growth was driven by approximately 100% sequential increases in both branded consumer products and contract manufacturing. Gross profit margin improved to 43.6% from 28.2% in Q3 2023. The company reported a net loss of $754,000 and an Adjusted EBITDA loss of $347,000. Cash balance stood at $1.10 million, with an additional $2 million raised through a registered direct offering post-quarter.

NEXGEL (NASDAQ: NXGL) announced a $2 million registered direct offering, issuing 727,272 common stock shares at $2.75 per share, along with warrants to purchase 363,636 additional shares at $4.25 per share. The warrants are immediately exercisable with a five-year term. Company insiders, including management and Board members, participated in the offering with a six-month lock-up period. The funds will be used to increase inventory and marketing for Silly George, support receivables from new large customer orders, and pursue acquisition opportunities.

NEXGEL (NASDAQ: NXGL), a provider of ultra-gentle, high-water-content hydrogel products, announced it will report its third quarter 2024 financial results on November 13, 2024, after market close. The company will host a conference call at 4:30 P.M. ET on the same day. A replay will be available through August 28, 2024, and the webcast will be accessible for 90 days.

NEXGEL (NASDAQ: NXGL), a provider of medical and OTC products including ultra-gentle, high-water-content hydrogels, has announced its participation in two upcoming investor conferences in October 2024:

1. Maxim's Healthcare Virtual Summit (October 15-17, 2024):
- CEO Adam Levy will participate in a fireside chat on Tuesday, October 15th at 9:30 a.m. ET
- The chat will be with Naz Rahman, Vice President, Biotechnology Analyst

2. LD Micro Main Event XVII Conference (October 28-30, 2024):
- Location: Luxe Sunset Boulevard Hotel, Los Angeles, CA
- Presentation by Adam Levy on Wednesday, October 30th at 11:30 a.m. PT in Track 4

Webcasts for both events will be available on NEXGEL's investor relations website. Investors can schedule one-on-one meetings with Mr. Levy through Maxim and LD Micro representatives or by contacting KCSA Strategic Communications.

NEXGEL (NASDAQ: NXGL) has preannounced expected record third quarter 2024 revenue of $2.85 million, representing a 133% year-over-year increase and a 98% sequential increase. This figure surpasses the company's previous guidance of $2.20 million by approximately 30%. The growth is attributed to significant increases in both branded consumer products and contract manufacturing segments.

CEO Adam Levy highlighted strong performance across all three brands, particularly the beauty brand Silly George. The contract manufacturing segment has also rebounded following recent expansion initiatives, including doubling square footage and installing new automated machinery. NEXGEL anticipates continued positive momentum in Q4, with the first order of SilverSeal to be delivered to Cintas. The company will report full Q3 2024 financial results on or before November 14, 2024.

NEXGEL (NASDAQ: NXGL), a provider of medical and OTC products using ultra-gentle, high-water-content hydrogels, has appointed Kip Crecca to its Scientific Advisory Board. Crecca brings over 20 years of medical device sales and management experience to the role. He currently serves as VP of North America Sales at MicroSurgical Technology and is on the Board of Directors at Ocular Science.

NEXGEL's CEO, Adam Levy, expressed enthusiasm about Crecca's appointment, highlighting his extensive knowledge and experience as a top medical device sales professional. Levy believes Crecca will be invaluable to the company's advancement of medical device and healthcare programs, contributing to growth initiatives and improving patient care globally with NEXGEL's hydrogels.

Crecca stated his excitement to join the Scientific Advisory Board and collaborate with the team to support the development of new therapies using NEXGEL's hydrogel technology.