Innovus Pharmaceuticals Inc (OTCMKTS:INNV) shares were down 0.39% on Friday to $0.253 and flat in after-hours trading. Share prices have been trading in a 52-week range of $0.03 to $0.66. The company has a market cap of $27.05 million at 106.08 million shares outstanding.
Innovus Pharmaceuticals Inc is a pharmaceutical company engaged in the commercialization, licensing, and development of non-prescription medicine and consumer care products to improve men’s and women’s health and vitality and respiratory diseases. It markets approximately five products in the United States and six in a range of countries around the world through its commercial partners.
The company has commercial agreements in over 60 countries around the world through its commercial partners. Its marketed products include Zestra, EjectDelay, Sensum+, Zestra Glide, Vesele and Androferti. Aside from that, Innovus Pharmaceuticals has a pipeline of over three additional products, including FlutiCare Over-The-Counter for Allergic Rhinitis, Urocis XR, an extended release of Vaccinium Marcocarpon, and AndroVit, a supplement to support overall prostate and male sexual health, which is marketed in Europe.
In a recent press release, Innovus Pharmaceuticals Inc announced the launch of UriVarx in the US. This product is clinically proven to reduce urinary urgency, accidents and both day and night frequency in Overactive Bladder and Urinary Incontinence patients. It marks the is the fifth Innovus product to be launched using the company’s acquired Beyond Human sales and marketing platform, and the company projects that the product could generate an additional $3.0 million a year in revenues.
As such, it brings Innovus Pharmaceuticals Inc closer to their goal of making $15 million per year starting next year. The product has already undergone two double blind and comparative trials in both male and female OAB and UI patients.
Bladder health affects millions of people in the U.S. and we believe it is important to offer a natural, yet clinically tested alternative,” cited Innovus Pharmaceuticals Inc CEO Dr. Bassam Damaj.
The Simon Foundation projects that Urinary Incontinence affects 26 million Americans with a total market size of $1.1 billion while the National Association for Continence estimated that over 33 million Americans suffer from Overactive Bladder with a market size over $2.1 billion.
Prior to this, Innovus Pharmaceuticals Inc was able to sign an exclusive license and distribution agreement with J&H Co for the commercialization of Zestra in South Korea. This agreement includes a minimum of $2 million per year in sales to the company, also bringing it closer to its $15 million per year goal.
We are pleased to partner with such a successful consumer products distributor such as J&H, making Zestra® available to consumers in South Korea,” said Innovus Pharmcaceuticals Inc CEO Dr. Bassam Damaj. “This partnership, our 15th partnership outside the United States, shows our commitment to making our products commercially available in markets outside of the United States and achieving our 2017 goals of $15 million in revenue and profitability.”
Zestra is a patented blend of natural oils clinically-proven to increase in a statistical significant manner the arousal, desire and sexual satisfaction in FSI/AD women. It is currently exclusively partnered with Orimed Pharma in Canada, DanaLife in select European markets, Sothema Labs for the Middle East and North Africa, Elis Pharma in Turkey and certain select markets, Oz Biogenics for Myanmar and Vietnam, Biotask in Malaysia and non-exclusively to PT in Hong Kong and certain Asian markets.
DISCLAIMER: There is a substantial risk of loss with any speculative asset, especially small cap stocks. The opinions expressed are those of the author, and do not constitute recommendations to buy or sell a stock. Do your own research before committing capital.