Wall Street Researcher
PetVivo Holdings Inc
PETV NASDAQ
Target Price $7.00 By Think Equity Research Report
Earnings And Business Update Call Transcript
PetVivo Reports First Quarter of Fiscal 2023 Financial Results
| Recent Insider Buying Director Recent Insider Buying Director Recent Insider Buying Director Recent Insider Buying Director Recent Insider Buying Director |
From 6-30-22 to 7-7-22 over 60,000 shares were acquired by four insiders ranging in price from $1.27 to $1.79 We feel that this is a significant indicator of the future value of PETV shares. Insider buying, especially in a weak market environment is a signal of a bright future ahead for the company.
Recently these shares spiked above $2.60 before settling back to current levels, all on news of a major distribution agreement with a top Veterinary Supply and Services Company. ( See Press Release Below )Watch CEO Interview
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Before the recent market sell off, these shares were ready to BREAKOUT above their 200 day moving average of $2.37 . We expect PETV to continue to grow at a rapid pace fueling its share price. With a yearly high of $8.80 we expect PETV shares to continue to advance on upcoming news on developing products and patents .The company has 19 patents with a pipeline of 17 products.
We urge all serious investors to place these shares immediately on their BUY LIST.
PetVivo Holdings, Inc. (NASDAQ: PETV) is an emerging biomedical device company currently focused on the manufacturing, commercialization and licensing of innovative medical devices and therapeutics for companion animals. The Company’s strategy is to leverage human therapies for the treatment of companion animals in a capital and time efficient way. A key component of this strategy is the accelerated timeline to revenues for veterinary medical devices, which enter the market much earlier than more stringently-regulated pharmaceuticals and biologics.
WEBSITE MANAGEMENT RESEARCH REPORT CEO INTERVIEW
PetVivo has a robust pipeline of products containing propriety thermoplastic protein based biomaterials that mimic the bodys tissue. a portfolio of 19 patents and 8 pending patent applications protects the companys biomaterials, products, production process and methods of use.
PETVIVO HOLDINGS, INC. ANNOUNCES PARTICIPATION AT THE H.C. WAINWRIGHT GLOBAL INVESTMENT CONFERENCE SEPTEMBER 12-14, 2022
MINNEAPOLIS, Sept. 06, 2022 (GLOBE NEWSWIRE) — PetVivo Holdings, Inc. (NASDAQ: PETV & PETVW) (“PetVivo”), an emerging biomedical device company focused on the commercialization of innovative medical devices and other therapeutics for pets, is pleased to announce it will be featured as a presenting company at the H.C. Wainwright Global Investment Conference to be held at the Lotte New York Palace Hotel in New York, New York on September 12-14, 2022.
John Lai, Chief Executive Officer, of PetVivo, has provided a previously recorded overview of the Company’s business for the conference. If you are an institutional investor and would like to register for the virtual conference, which includes access to the Company’s presentation, please click on the following link to register for the virtual conference: https://my.ct.events/register.aspx?meid=d66a5626-5dc6-418d-b488-cfada62cdcfb&rpid=02640279-6330-49ca-98ed-892286ced15b . Over 500 corporate presentations & panels are available on-demand during this conference.
Event: H.C. Wainwright Global Investment Conference (In-Person and Virtual Conference)
Conference Dates: September 12-14, 2022
Presentation Date and Time: Previously Recorded and Available for Viewing
Location: Lotte New York Palace Hotel, New York, New York and Virtual Conference
Conference Registration: https://my.ct.events/register.aspx?meid=d66a5626-5dc6-418d-b488-cfada62cdcfb&rpid=02640279-6330-49ca-98ed-892286ced15b
About H.C. Wainwright & Co.
H.C. Wainwright is a full‐service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. H.C. Wainwright & Co. also provides research and sales and trading services to institutional investors. According to Sagient Research Systems, H.C. Wainwright’s team is ranked as the #1 Placement Agent in terms of aggregate CMPO (confidentially marketed public offering), RD (registered direct offering) and PIPE (private investment in public equity) executed cumulatively since 1998.
Paula Wittler Joins PetVivo Holdings, Inc. as the Western Business Development Manager
MINNEAPOLIS, MN, US, Sept. 07, 2022 (GLOBE NEWSWIRE) — PetVivo Holdings, Inc. (NASDAQ: PETV & PETVW) (the “Company”) an emerging biomedical device company focused on the commercialization of innovative medical devices and therapeutics for companion animals and animal athletes is pleased to announce that Paula Wittler has accepted a position with the Company as its new Business Development Manager for the Western Region of the United States.
“We are incredibly excited to add Paula to our sales and distribution team,” said John Lai, Chief Executive Officer of PetVivo Holdings, Inc. “The experience Paula brings to PetVivo is extraordinarily valuable to our efforts in introducing our innovative product Spryng ™ with OsteoCushion ™ technology to veterinarians throughout the United States”
Paula Wittler has more than 25 years of experience related to management, marketing and distribution of veterinary products in the United States. She has served in various roles in product promotion, product distribution, technical sales and marketing with veterinary companies such as Zoetis Animal Health (f/k/a Pfizer Animal Health). Paula is a graduate of UC Santa Barbara. When not working, Paula tries to spend as much time in the saddle as possible. She competes/shows her Non-Pro Bridle horse in the National Reined Cow Horse Association, as well as owns an Open Derby Horse being trained and shown by a professional trainer.
“Joining PetVivo as a new Business Development Manager is an incredible opportunity for me to continue my passion, leverage my industry knowledge, and positively impact the quality of life for horses and companion animals. I am humbled and honored to be a part of this valuable team,” said Paula Wittler. “I am thankful for the opportunity to be able to promote and sell a veterinary medical device that addresses the affliction (i.e. lost or damaged cartilage) rather than simply treating the symptoms (e.g. pain and inflammation). I truly believe Spryng has the ability to improve the medical outcomes of animals suffering from lameness and other joint related afflictions, such as osteoarthritis, thereby enhancing the lives of animals and their owners.”
For more information about PetVivo Holdings, Inc. and its innovative product, Spryng, please contact info1@petvivo.com or visit https://petvivo.com/ and https://sprynghealth.com/ .
PetVivo Reports First Quarter of Fiscal 2023 Financial Results
EDINA, MN, Aug. 11, 2022 (GLOBE NEWSWIRE) — PetVivo Holdings, Inc. (Nasdaq: PETV) , an emerging biomedical device company focused on the commercialization of innovative medical therapeutics for animals, announces financial results for the first quarter of fiscal 2023.
Highlights from the first quarter of 2023 and recent weeks include the following (all comparisons are with the first quarter of 2022, unless otherwise indicated):
- Entered into a Distribution and Sales Agreement with MWI Animal Health, a leading distributor of animal health products on June 17, 2022
- Revenues of $58,174 in the first quarter of fiscal 2023, compared to revenues of $4,145 in the first quarter of fiscal 2022
Management Commentary
John Lai, CEO, commented, “I am happy to report that our investment in sales and marketing for our Spryng ™ veterinarian device, with OsteoCushion Technology ™ is beginning to yield positive results for us. We have now opened up accounts with veterinary clinics in 37 states.
I am also excited about the exclusive Distribution and Sales Agreement with MWI Animal Health (“MWI”), a leading distributor of animal health products and subsidiary of AmeriSource Bergen, which we entered into in June 2022. We view MWI as a strategic partner that will allow our company significant exposure to and penetration into the US animal health market. MWI has a network of distribution centers in key markets nationwide and over 400 territory managers. This new relationship will benefit the industry, the veterinarians who provide medical care, their patients, and pet owners alike.”
First Quarter Financial Results
Revenues . Revenue was $58,174 and $4,145 for three months ended June 30, 2022 and 2021, respectively, and consisted of Spryng ™ sales to veterinary clinics. The Company began commercialization of its Spryng ™ product in September 2021, which resulted in increased revenues in the three months ended June 30, 2022 compared to the same period in the prior year.
Cost of Sales . Cost of sales was $53,020 and $5,051 for the three months ended June 30, 2022 and 2021, respectively. Cost of sales includes product costs related to the sale of products and labor and overhead costs. The Company began commercialization of its Spryng ™ product in September 2021, which resulted in increased costs of sales in the three months ended June 30, 2022 compared to the same period in the prior year.
Operating Expenses . Operating expenses were $1,917,247 and $517,613 for the three months ended June 30, 2022 and 2021, respectively. Operating expenses consisted of general and administrative, sales and marketing, and research and development expenses. The Company began commercialization of its Spryng ™ product in September 2021, which resulted in increased general and administrative expenses and sales and marketing expenses related to the sale of its Spryng ™ product in the three months ended June 30, 2022 compared to the same period in the prior year.
Operating Loss . As a result of the foregoing, our operating loss was $1,966,093 and $518,519 for the three months ended June 30, 2022 and 2021, respectively. The increase in our operating loss was related to the costs to support the launch of Spryng ™ and the incremental public company costs incurred in the three months ended June 30, 2022 compared to the same period in the prior year.
Other Income. Other income was $665 for the three months ended June 30, 2022 as compared to other income of $27,890 for the three months ended June 30, 2021. Other income in 2022 consisted of net interest income. Other income in 2021 consisted of the forgiveness of PPP Loan and accrued interest of $31,680 partially offset by interest expense of $3,790.
Net Loss . Our net loss for the three months ended June 30, 2022 was $1,965,428 or ($0.20) per share as compared to a net loss of $490,629 or ($0.07) per share for the three months ended June 30, 2021. The increase in our net loss was related to the costs to support the launch of Spryng ™ and the incremental public company costs incurred in the three months ended June 30, 2022 compared to the same period in the prior year. The weighted average number of shares outstanding was 9,988,361 compared to 6,946,353 for the three months ended June 30, 2022 and 2021, respectively.
Balance Sheet and Inventory
At June 30, 2022, the Company had $4.4 million in cash and working capital of $3.8 million. The Company increased its inventory to $180,874 as of June 30, 2022 in order to support its expected revenue growth in 2023.
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