Minimum 7 Approvals expected within this year and new product launches in USA as well they expect profitability by next year according to Mr McFadden (IR) .Market Cap is laughable $24 Million- Cash $13 Million - Annual Revnue on to way to hit $16 Million anyone with a brain will quickly realize how brutally undervalued this one is .GL
Transcript of the conference last week
Dermatology prescriptions filled for the first quarter were up 66% over last year and up 24% even versus the March 2017 quarter.
Our growing sales team now totals 30 sales reps and 5 managers. All reps have been trained, are out in the field generating prescriptions, and we are pleased to see the team hitting new weekly sales records for prescriptions filled at the pharmacy counter almost every week.
From a clinical trial perspective, we saw a publication of two studies, describing the benefits of Celacyn, our prescription scar management product, and for Sebuderm for the treatment of facial and scalp seborrheic dermatitis. Both studies are available online, in print and are great tools for our growing sales force when speaking with our customers, the dermatologists.
Our profit center businesses, which we define as our international business, acute care, animal health and our contract lab testing, are all on track for profitable growth for our full fiscal year.
And finally, our cash is healthy and we have almost no debt.
As Bob and I discuss often, it's a great time to be running this growing company with a dedicated team, all pushing towards the same goals and objectives.
Switching gears, a brief look ahead. Loyon, our skin descaling product, licensed from a German pharma company, was recently approved by the FDA and is on track for a launch in October.
You may have seen, we just received our 17th FDA approval last week for a new product and a new indication. For competitive reasons, we're not in a position to discuss this product or the timing for the launch. But suffice it to say that we should have an active nine months ahead with the FDA.
In Brazil, the regulatory equivalent of the FDA, which is Anvisa, asked us for more information on our pending dermatology products in the June timeframe. We've already answered their questions and provided all requested information.
We now expect up to seven new dermatology product approvals – and I'm going to repeat that, not launches, but approvals – specifically for the Brazilian dermatology market this fall.
As you'll no doubt remember, Brazil has become the world's third-largest market for beauty products after the US and Japan. And in plastic surgery and in dermatology procedures, Brazil is now the world's second-biggest market after the US.
Additionally, we have a handful of new approvals pending in the Middle East and in China. And we look forward to providing you with more information on our international dermatology growth soon.
So, in closing, we had a strong quarter due to our team's focus on our execution. We are well positioned for the remainder of this year and beyond.