While laser hair removal has proven to be effective in permanently removing hair, it can be associated with the release of a plume that contains airborne particles and hazardous organic compounds, which if inhaled may affect the short and long term health of professional providing the treatments. At present, well over a dozen states have enacted legislation mandating the use of plume evacuation systems in order to mitigate the hazards and risks of exposure to the plume. Adam Levy, CEO of NEXGEL, commented, ...

LANGHORNE, Pa., July 08, 2024 (GLOBE NEWSWIRE) -- NEXGEL, Inc. ("NEXGEL" or the "Company") (NASDAQ: NXGL), a leading provider of medical and over-the-counter (OTC) products including ultra-gentle, high-water-content hydrogels for healthcare and consumer applications, today announced preliminary, unaudited revenue for the second quarter of 2024 and has provided revenue guidance for the third and fourth quarter of 2024. Based on preliminary and unaudited review, the Company anticipates: Second Quarter 2024 Re ...

LANGHORNE, Pa., July 08, 2024 (GLOBE NEWSWIRE) -- NEXGEL, Inc. ("NEXGEL" or the "Company") (NASDAQ: NXGL), a leading provider of medical and over-the-counter (OTC) products including ultra-gentle, high-water-content hydrogels for healthcare and consumer applications, today announced preliminary, unaudited revenue for the second quarter of 2024 and has provided revenue guidance for the third and fourth quarter of 2024. Based on preliminary and unaudited review, the Company anticipates: Second Quarter 2024 Re ...

Company Overview - NEXGEL Inc is a leading provider of medical and over-the-counter (OTC) products, specializing in ultra-gentle, high-water-content hydrogels for healthcare and consumer applications [1] - The company has over two decades of experience in developing and manufacturing electron-beam, cross-linked hydrogels [2] - NEXGEL's product portfolio includes brands such as Silverseal®, Hexagels®, Turfguard®, Kenkoderm®, and Silly George® [2] - The company maintains strategic contract manufacturing relationships with leading consumer healthcare companies [2] Partnership Announcement - NEXGEL has entered into a supply agreement with Cintas Corporation, a Fortune 500 company serving over 1 million businesses across North America [1][4] - Under this agreement, NEXGEL will supply its SilverSeal product to Cintas for distribution to customers in various sectors including hospitality and public service [6] - The first order of SilverSeal is expected to be delivered in Q4 2024 [6] Product Details - SilverSeal is a hospital-grade hydrogel dressing designed for wound and burn care [6] - The product will be offered as a wound care solution for employees of Cintas' customers [6] Strategic Significance - The partnership with Cintas is significant for NEXGEL due to both revenue potential and brand awareness for SilverSeal [4] - Cintas is a major provider of products and services that help businesses maintain clean, safe, and professional environments [4] Market Position - Cintas Corporation is a publicly traded company on the Nasdaq Global Select Market under the symbol CTAS [4] - The company is a component of both the S&P 500 Index and Nasdaq-100 Index [4]

LANGHORNE, Pa., June 11, 2024 (GLOBE NEWSWIRE) -- NEXGEL, Inc. ("NEXGEL" or the "Company") (NASDAQ: NXGL), a leading provider of medical and over-the-counter (OTC) products including ultra-gentle, high-water-content hydrogels for healthcare and consumer applications, today announced the first product to be distributed under its recently formed partnership with STADA Arzneimittel AG ("STADA"), a European leader in consumer health. Histasolv®, sold as DAOSIN® in Europe, is Europe's number one selling Diamine ...

About STADA Arzneimittel AG Forward-Looking Statement preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "intend," "plan," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs, such as "will," "should," "would," "may," and "could," are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may ca ...

NEXGEL has acquired all of the assets of Silly George for $400,000 in cash, $200,000 in NEXGEL common stock, and a 4-year net profit earn out. Under the terms of the agreement, management of Silly George will remain in place and inventory will be provided by the seller at cost and paid for after the sale of each unit. Acquisition further expands NEXGEL Health, Wellness, and Beauty consumer product portfolio Silly George is on a revenue run rate of approximately $2 million LANGHORNE, Pa., May 16, 2024 (GLOBE ...

Acquisition further expands NEXGEL Health, Wellness, and Beauty consumer product portfolio Silly George is on a revenue run rate of approximately $2 million LANGHORNE, Pa., May 16, 2024 (GLOBE NEWSWIRE) -- NEXGEL, Inc. ("NEXGEL" or the "Company") (NASDAQ: "NXGL"), a leading provider of ultra-gentle, high-water-content hydrogel products for healthcare and consumer applications, today announced the acquisition of Silly George, an international beauty company with specialty in eye and eyelash consumer products ...

Financial Data and Key Metrics Changes - Revenue for the first quarter of 2024 increased by 104% year-over-year to approximately $1.27 million, exceeding the guidance of $1.25 million [28] - Gross profit margin for Q1 2024 was approximately 22%, compared to a negative gross margin for the same period last year and an increase from 14.6% in Q4 2023 [29] - Net loss for Q1 2024 was $905,000, compared to a net loss of $807,000 in Q1 2023 [16] Business Line Data and Key Metrics Changes - Revenue from contract manufacturing increased by approximately 58%, while revenue from consumer branded products surged by 178% year-over-year [29] - The Kenkoderm product line contributed to revenue growth, marking the first full quarter of revenue contribution from six new products [36] Market Data and Key Metrics Changes - The company is preparing for a European market entry, with interest in Australia, the UK, and Nordic countries for its Hexagels product [18] - The company is also looking to distribute Kenkoderm in smaller Eastern European and Nordic countries [20] Company Strategy and Development Direction - The company is focused on capacity expansion in its Texas facility and is investing in state-of-the-art equipment to support increased demand [31] - Achieving MDR compliance is a priority for entering the European market, with costs associated with compliance expected to normalize in the second half of 2024 [38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the cash runway to fund operations, with a cash balance of $2.4 million as of March 31, 2024 [6] - The company anticipates a reduction in expenses and a more normalized financial situation in the latter half of 2024 as facility expansion is completed and MDR compliance is achieved [38] Other Important Information - The company completed a registered direct offering for net proceeds of just under $1 million in February 2024 [6] - The company is working on an update to its Medigel retail website to facilitate cross-promotion with Kenkoderm products [8] Q&A Session Summary Question: Can you discuss the potential European launch and strategy? - The first product for Europe will be Class 1 medical devices, with expected self-certification after passing inspection scheduled for the end of May [18] - Interest exists for Hexagels in Australia, the UK, and Nordic countries, while SilverSeal, a Class 3 device, will not be cleared until Q4 at the earliest [19] Question: What are the differences in commercializing in Europe versus the U.S.? - Understanding the market is crucial, and the company is seeking distribution partners to navigate local marketing strategies effectively [21][22] Question: Will there be an FDA inspection required after capacity expansion? - FDA inspections are sporadic and typically occur only if issues arise; however, ISO inspections are regularly scheduled [41] Question: Will partners like AbbVie conduct inspections regarding the expansion? - Regular inspections by partners are expected, similar to the company's inspections of their facilities [42]

Revenue Performance - NEXGEL reported Q1 2024 revenue of $1.27 million, a 104% increase from $620,000 in Q1 2023[3] - Revenue growth was driven by contract manufacturing (58% increase) and consumer branded products (178% increase) year-over-year[2] Profitability and Expenses - Gross profit for Q1 2024 was $277,000, compared to a gross profit loss of $57,000 in Q1 2023, resulting in a gross profit margin of 21.9%[4] - Cost of revenues increased by 46.1% to $989,000 in Q1 2024, primarily due to new product line growth and increased compensation[5] - Selling, general and administrative expenses rose by 43.8% to $1.1 million, attributed to higher advertising, marketing, and consulting fees[6] - Research and development expenses decreased to $2,000 in Q1 2024 from $29,000 in Q1 2023[7] - NEXGEL's net loss for Q1 2024 was $905,000, compared to a net loss of $807,000 in Q1 2023[7] Cash Position and Future Plans - As of March 31, 2024, NEXGEL had a cash balance of $2.4 million, including approximately $1 million from a registered direct offering[8] - The company is nearing completion of a capacity expansion in Texas and preparing for product launches with Abbvie and others[2] - NEXGEL expects to launch its first batch of consumer branded products in Europe, pending final certifications[2]