CEDAR KNOLLS, N.J.,
Aug. 8, 2019 /PRNewswire/
-- MYOS RENS Technology Inc. ("MYOS" or "the Company")
(NASDAQ: MYOS), an advanced nutrition company and the owner of
Fortetropin®, a proprietary bioactive composition
derived from fertilized egg yolk that helps build lean muscle,
issued a letter to its shareholders from Chief Executive Officer
Joseph Mannello.
Dear Fellow Shareholders,
Thank you for your continued support of MYOS. I hope that this
letter will help underline the incredible potential that I firmly
believe this company is on the verge of realizing.
Shareholders should be very encouraged with our results and
accomplishments in second quarter and the first half of 2019. We
continue to make significant progress on the important drivers of
ongoing and future growth for our business, raising awareness and
market acceptance of our core brands, while building our scientific
portfolio for Fortetropin through clinical trials. This progress,
in conjunction with the accomplishments and achievements that we
made in 2018, fueled a 109% increase in revenues for the
first half of 2019 compared to the first half of 2018.
Last year, we launched our Fortetropin-based canine product,
Myos Canine Muscle Formula® ("Myos Canine"), based on
the encouragement that we received from veterinarians and countless
pet parents who gave Fortetropin to their aging or disabled pets
and had observed positive results. We initiated a clinical
study with Kansas State University College of
Veterinary Medicine, to examine the impact of Fortetropin on
reducing muscle atrophy in dogs after tibial-plateau-leveling
osteotomy (TPLO) surgery. The results from the study showed that
dogs that received Fortetropin experienced reduced muscle atrophy
and could exert greater force with their operated limb relative to
dogs that received a macronutrient-matched placebo. At the same
time, dogs in the Fortetropin group maintained stable levels of
myostatin following surgery while an increase in myostatin levels
of ~10% was noted in dogs that received a macronutrient-matched
placebo.
Since the launch of Myos Canine, we have experienced
double-digit revenue growth every quarter, including 46% growth in
the second quarter of 2019. We are thrilled with this performance
but believe that we've only scratched the surface of the
potential for Myos Canine Muscle Formula. To date, the growth
in revenues have largely been fueled by the amazing testimonials
that we received and, continue to receive, from dog owners. The
traffic to our myospet.com website and social media channels has
consistently grown every month and our presence on Amazon has
accelerated our sales momentum.
We've always said that the key to building the Myos Canine brand
and maintaining its long-term sustainability will depend on its
acceptance by veterinarians, because while humans do not always
follow their doctor's orders, pet owners follow their vet's
instructions to the letter. After we announced the positive
results of our Kansas State study, we
began reaching out to veterinarians with our data, sending samples
of our product and engaging them with our scientific team. The
benefits of this outreach has translated to a sizable amount of
inquiries that we receive weekly from veterinarians. To build on
this strategy and in line with our commitment towards further
building the scientific portfolio that supports Fortetropin, we
sponsored another study at Kansas State
University College of Veterinary Medicine. This study will
evaluate the impact of Fortetropin on the quality of life and
activity in geriatric dogs. Thus far, 17 of the 40 dogs for the
study have been recruited as of the end of the second quarter. We
believe that there is potential for MYOS Canine Muscle Formula to
one day become a mainstay in veterinary practices across the
country.
In April of 2018, we launched Yolked muscle health powder, our
all-natural, NSF Certified for Sport® nutrition product
made with Fortetropin, that is marketed specifically to competitive
athletes. We are making steady headway in what is a highly
competitive marketplace. Customers continue to enthusiastically
respond to Yolked and we have our eyes firmly fixed on our mission
to change the way people think about the importance of muscle
health.
Additionally, our marketing partner IMG has facilitated
relationships on MYOS' behalf with athletic departments at over
12 Division I universities. We are in constant contact with the
trainers and nutritionists at these universities, providing ongoing
education on the Yolked product and strategizing the best way for
the product to help their student-athletes. This fall, Yolked
will be a key part of the athletic training programs at three
partner schools: Boston College,
Marshall University, and Brown University. With the cooperation of each
school's training staff, we hope to show that Yolked not only helps
make athletes stronger, but also helps in recovery. In addition to
these three universities, we are deep in discussions with several
other universities.
Throughout the Spring 2019 basketball season, Yolked was
featured prominently on each school's TV-visible courtside
basketball signage, reaching millions of fans via national TV
coverage. In addition, Yolked was featured on each athletic
department's official website and official social media channels
and was featured as a sponsor of nightly on-court fan contests and
t-shirt toss promotions. These marketing efforts were designed to
introduce Yolked and drive brand awareness among millions of
college sports fans, a very affluent, active, and loyal audience
segment.
We enacted national expansion for Yolked with our agreement with
The Vitamin Shoppe, which is selling Yolked in its 775 store
locations across the U.S. and online at vitaminshoppe.com. In
addition, our distribution agreement with National Sales Associates
will enable Yolked to be sold through their national sales network
of eight regional offices with over 160 associates.
From a marketing perspective, we want Yolked to represent much
more than a nutritionally sound muscle health product. We want to
create an emotional connection with our target consumers by telling
stories about a commitment to hard work, perseverance and
persistence, humility and professionalism in our workouts, in our
games and in our daily lives. Those attributes are exemplified
with our most recent endorsement partner, Carli Lloyd. Carli is a two-time Olympic
gold medalist, two-time FIFA Women's Player of the Year, three-time
Olympian, and now a two-time FIFA Women's World Cup champion in her
4th appearance as a member of the team. Carli joins NBA superstar
Aaron Gordon of the Orlando
Magic as one of our endorsement partners forming Team
Yolked®. We have rolled out additional
footage of the ads featuring Aaron throughout social media and will
be meeting with Carli Lloyd soon to
prepare her campaign.
As I have said since becoming CEO, the success of our products
is driven by our ability to demonstrate clinical benefits of our
key ingredient Fortetropin in order to fully leverage its
capabilities. We were delighted to announce positive
top-line results from our randomized, double-blind,
placebo-controlled study that was recently completed at the
University of California, Berkeley and
the University of Arkansas for Medical
Sciences, where we evaluated the impact of Fortetropin on the rate
of muscle protein synthesis in older men and women between 60-75
years of age. This study showed that Fortetropin
significantly increased the fractional synthetic rate of muscle
proteins relative to placebo. The Principal Investigator, Dr.
William Evans at the University of California, Berkeley is recognized as
a key opinion leader in the field of muscle health and sarcopenia.
Dr. Evans commented, "Fortetropin clearly has a robust effect
on the rate of muscle protein synthesis in older adults. It
is rare for a nutrition product to show such a consistent and
positive effect."
Our studies support our product claims, expand our
commercial footprint, and with that, create shareholder
value.
All of these efforts lead to the goal of building and growing
shareholder value. While I am very pleased with the overall
progress of our brands' growth and the expansion of our patents and
clinical study data, we have only scratched the surface of the
opportunities for MYOS.
So, in closing, I want to assure you that the entire team here
at MYOS is focused and working hard to execute our plan to advance
the field of muscle health through the development of innovative,
advanced nutrition products that are safe, natural, effective and
backed by rigorous scientific research and, which, we believe will
create tremendous value for all of us. I look forward
to sharing updates with you next quarter.
Joseph Mannello
Chief Executive Officer
MYOS RENS Technology
About MYOS RENS Technology Inc.
MYOS RENS
Technology Inc. (MYOS), "The Muscle Company®", is a
Cedar Knolls, NJ-based advanced
nutrition company that develops and markets products that improve
muscle health and performance. MYOS is the owner of
Fortetropin®, a fertilized egg yolk-based product
manufactured via a proprietary process to retain and optimize its
biological activity. Fortetropin has been clinically shown to
increase muscle size and lean body mass in conjunction with
resistance training. MYOS believes Fortetropin has the potential to
redefine existing standards of physical health and wellness. For
more information, please visit www.myosrens.com.
Forward-Looking Statements
Any statements in
this release that are not historical facts are forward-looking
statements. Actual results may differ materially from those
projected or implied in any forward-looking statements. Such
statements involve risks and uncertainties, including but not
limited to those relating to product and customer demand, market
acceptance of our products, the ability to create new products
through research and development, the successful results of
strategic initiatives, the success of our products, including
Qurr®,
Yolked® and MYOS Canine
Muscle Formula® , the
success of our research and development, the results of the
clinical evaluation
of Fortetropin® and
its effects, the ability to enter into new partnership
opportunities and the success of our existing partnerships, the
ability to generate revenue and cash flow from sales of our
products, the ability to increase our revenue and gross profit
margins, the ability to achieve a sustainable, profitable business,
the effect of economic conditions, the ability to protect our
intellectual property rights, competition from other providers and
products, the continued listing of our securities on the Nasdaq
Stock Market, risks in product development, our ability to raise
capital to fund continuing operations, and other factors discussed
from time to time in our filings with the Securities and
Exchange Commission. We undertake no obligation to update or revise
any forward-looking statement for events or circumstances after the
date on which such statement is made except as required by
law.
These statements have not been evaluated by the Food and Drug
Administration. Our products are not intended to diagnose, treat,
cure or prevent any disease.
Investor Relations:
Porter LeVay & Rose
Matthew Abenante, IRC, SVP
Phone: 212-564-4700
Email: MYOS@plrinvest.com
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