- The stock price of Guardion Health Sciences Inc (NASDAQ: GHSI) increased by over 8% during intraday trading today. This is why it happened.
The stock price of Guardion Health Sciences Inc (NASDAQ: GHSI) – a clinical nutrition and diagnostics company that develops clinically supported nutrition, medical foods, supplements, and medical devices – increased by over 8% during intraday trading today. Investors are responding positively to a couple of announcements from the company.
These are the highlights:
— Total revenue of $233,297 for the quarter ended March 31, 2021, as compared to $245,723 for the quarter ended March 31, 2020, a decrease of approximately 5%
— Net loss for the quarter ended March 31, 2021 of $(2,669,525) or $(0.13) per share, compared to a net loss of $(2,346,913) or $(0.18) per share for the quarter ended March 31, 2020
— Cash balance of $43,329,674 and net working capital of $43,012,927 at March 31, 2021
Acquisition Of Activ Nutritional, LLC
Guardion Health Sciences entered into an Equity Purchase Agreement with Adare Pharmaceuticals to buy all of the equity of Activ Nutritional, LLC for a cash payment of $26 million, subject to certain adjustments. And the deal is subject to several customary closing conditions and is expected to close by June 30, 2021.
Adare owns the Viactiv line of supplement chews for bone health, immune health, and other applications. Currently marketed through many of the largest retailers like Walmart (retail and online), Target, and Amazon, the Viactiv product lines are expected to become Guardion’s most prominent product lines as well as to provide access to significant opportunities in the short term for growth and expansion.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.