LANGHORNE, Pa., Dec. 7, 2022
/PRNewswire/ -- NEXGEL, Inc. ("NEXGEL" or the "Company") (NASDAQ:
NXGL, NXGLW), a leading provider of ultra-gentle,
high-water-content hydrogel products for healthcare and consumer
applications, announced today that its Board of Directors has
approved a share repurchase program, effective immediately, with
authorization to purchase up to $500,000 of the Company's common shares.
Under the program, any repurchases will be made in the open
market in accordance with all applicable securities laws and
regulations, including Rule 10b-18 of
the Securities Exchange Act of 1934, as amended. The
repurchase program does not obligate the Company to acquire any
particular amount of common shares, and the repurchase program may
be suspended or discontinued at any time by our Board of
"Our Board of Directors and executive management team remain
committed to delivering value to our shareholders through strategic
capital allocation. We believe the discount of our current
valuation presents an attractive investment opportunity," said
Adam Levy, Chief Executive Officer
of NEXGEL. "This repurchase program is a reflection of our
confidence in our business and our pipeline of opportunities."
About NEXGEL, INC.
NEXGEL is a leading provider of ultra-gentle, high-water-content
hydrogels for healthcare and consumer applications. Based in
Langhorne, Pa., the Company has
developed and manufactured electron-beam, cross-linked hydrogels
for over two decades. Alongside its strategic partners, NEXGEL has
formulated more than 200 different combinations to bring natural
ingredients to gentle skin patches that can be worn for long
periods of time with little to no irritation.
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended (the "Exchange Act") (which Sections were adopted as part
of the Private Securities Litigation Reform Act of 1995).
Statements preceded by, followed by or that otherwise include the
words "believe," "anticipate," "confidence," "estimate," "expect,"
"intend," "plan," "project," "prospects," "outlook," and similar
words or expressions, or future or conditional verbs, such as
"will," "should," "would," "may," and "could," are generally
forward-looking in nature and not historical facts. These
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the Company's
actual results, performance, or achievements to be materially
different from any anticipated results, performance, or
achievements for many reasons. The Company disclaims any intention
to, and undertakes no obligation to, revise any forward-looking
statements, whether as a result of new information, a future event,
or otherwise, except as required by law. For additional risks and
uncertainties that could impact the Company's forward-looking
statements, please see the Company's Annual Report on Form 10-K for
the year ended December 31, 2021,
including but not limited to the discussion under "Risk Factors"
therein, which the Company filed with the SEC and which may be
viewed at http://www.sec.gov/.
Valter Pinto, Managing Director
KCSA Strategic Communications
Raquel Cona / Michaela
KCSA Strategic Communications
212.896.1204 / 978.995.4683
firstname.lastname@example.org / email@example.com