NexGel Inc Common StockNASDAQ: NXGL

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 Oxidase (‘DAO') enzyme supplement generating well over $10 million in annualized revenue to treat histamine food intolerance, which can cause migraines and headaches, gut issues, and skin conditions. Headquartered in Germany, STADA is one of the fastest growing top ten companies in consumer healthcare and the fourth largest manufacturer in this segment in Europe.

The acquisition of Silly George expands NEXGEL's consumer product portfolio in Health, Wellness, and Beauty. Silly George is currently generating around $2 million in revenue.

NEXGEL, Inc. (NXGL) Q4 2023 Earnings Call Transcript

NEXGEL, Inc. (NASDAQ:NXGL ) Q3 2023 Results Conference Call November 13, 2023 4:30 PM ET Company Participants Valter Pinto - MD, KCSA Strategic Communications Adam Levy - CEO Adam Drapczuk - CFO Conference Call Participants Naz Rahman - Maxim Group Operator Good afternoon. I will be your conference operator today.

The recent surge in official interest rates, the most substantial in 40 years, is anticipated to impact aggregate demand significantly. This could potentially result in a GDP reduction of approximately 4 percent for the current year, followed by an additional 1% decrease in 2024.

Nexgel Inc has announced its financial results, revealing record second-quarter revenue.  “Record second-quarter revenue of $1.17 million, an increase of 108% year-over-year, exceeded our projections,” CEO Adam Levy said in a statement.

NEXGEL (NASDAQ:NXGL) has announced a partnership with Engima Health for marketing services and to distribute its hydrogel products in retail stores across North America. A new joint venture (JV) company, Enigma Health will also be providing services for Moiety, a topical lotions and cream manufacturer, NEXGEL (NASDAQ:NXGL) said.

NEXGEL (NASDAQ:NXGL), a leading provider of hydrogel products, reported a 56.6% year-over-year increase in revenue over the first quarter of 2023. Total revenue for the three-month period to end March 31 came in at $620,000 driven by sales growth in contract manufacturing and branded consumer products.