Impact BioMedical Inc. (NYSE American: IBO), a pioneering
biotechnology company dedicated to discovering, developing, and
patenting innovative healthcare solutions, today announced that
Frank D. Heuszel, Chairman and Chief Executive Officer of Impact
BioMedical Inc., issued the following letter to Impact BioMedical
shareholders regarding recent achievements, executional
efficiencies and the positive outlook for the Company’s future.
Dear Impact Biomedical Inc. (IBO) Shareholders,
We closed our first quarter as a publicly traded company and
wanted to address all current and future stakeholders highlighting
our recent achievements, our appreciation for your support, and
some additional insights into why we are excited for the future and
continued success of Impact BioMedical Inc!
We are pleased to share this update on the heels of significant
achievements after having just filed our quarterly report for the
third quarter of 2024. Below are some of those highlights:
Successful IPO Launch and Funding in
September
On September 16, 2024, IBO successfully launched its Initial
Public Offering (IPO), raising $4.5 million in capital. The 1.5
million shares included in the IPO are freely tradable on the NYSE.
The remaining 10 million shares issued and outstanding are
restricted from trading until March 2025.
This key milestone for the company provides us with resources to
accelerate our research and development initiatives, expand our
market presence, and enhance shareholder value. Following the IPO,
our company was officially listed on the NYSE American under the
ticker IBO.
Q3 2024 Financial Performance
For the third quarter of 2024, IBO reported net income of
$4,241,000, reflecting our ability to drive value. September 30,
2024 year-to-date net income stands at $2,363,000.
IBO has also made considerable progress in enhancing our
financial stability and shareholder value. From June 30, 2024, to
September 30, 2024, our shareholder equity increased from $28.26
million to $34.56 million, marking a $6.3 million increase. This
represents growth of approximately $.54 per share.
Additionally, as of the end of the third quarter, the company’s
cash position was approximately $2.66 million, positioning us well
for investment in strategic initiatives and operational needs.
Strategic Debt Restructuring
As part of our ongoing efforts to optimize our capital
structure, we successfully restructured our long-term debt during
the third quarter. This restructuring improves our financial
flexibility, enabling repayment of the debt with company equity for
24 months allowing the Company to conserve cash, which will further
enhance our ability to invest in growth and innovation.
Strategic Partnerships and Product
Development
We are also actively collaborating with strategic partners to
advance the development and funding of key assets. These
partnerships are critical to driving the commercialization and
monetization of our cutting-edge technologies.
Key developments with our technologies licensed to ProPhase
Labs, Inc. (NASDAQ: PRPH) include:
Equivir™:
Development and commercialization of the Equivir™ technology,
with initial application planned as a health
supplement. Studies are ongoing to support potential market
claims, and contingent on final results, Equivir™ will be launched
in the U.S. as an e-commerce and over the counter offering.
Linebacker™:
This technology is under evaluation with the initial target of
solid tumors (lung, colon) in oncology. Pre-clinical studies are
ongoing with results projected in 2025. Assuming successful
results, these efforts would advance to IND discussions and plans
to initiate a phase 1 study.
Outside of our partnership with ProPhase Labs Inc., our Laetose™
and 3F™ platforms are proven and available for immediate partnering
with the potential to generate both license milestone and royalty
revenue in 2025 and beyond.
Moreover, we continue our pursuit of new products that have the
potential to expand our portfolio and enhance the company's value
proposition. Our teams are focused on advancing these promising
initiatives in the pipeline.
What’s Next? Live CEO Webinar on November
20th at 4:30 pm ET
The third quarter of 2024 was a period of sturdy growth and
strategic progress for Impact BioMedical Inc. With the successful
IPO, strong financial performance, improved balance sheet, and
continued investment in innovation, we are well-positioned to drive
long-term value for our shareholders. We remain committed to
executing our strategic goals and look forward to updating you on
our progress as it applies to all four of our core platform
technologies (Linebacker, Equivir, 3F, and Laetose).
To further this point, we are hosting a LIVE WEBINAR on November
20th at 4:30 pm eastern time where you will have the opportunity to
hear directly from myself as well as Mark Suseck (COO) and Todd
Macko (CFO), where we will provide a full update on the company
including our anticipated milestones and plans for the rest of 2024
and beyond. Do not miss out, sign up today with the link below and
you will receive a calendar invite with all of the necessary
information!
SIGN UP HERE
Thank you again for your continued support and we look forward
to keeping you up to date on all of our progress in the coming
weeks …. months … quarters … and years!
Sincerely,
Frank D. Heuszel
Chairman & CEO, Impact BioMedical Inc.
November 19, 2024
About Impact BioMedical, Inc.:Impact BioMedical
Inc. (NYSE American: IBO) discovers, confirms, and patents unique
science and technologies which can be developed into new offerings
in biopharmaceuticals and consumer healthcare and wellness in
collaboration with external partners through research, licensing,
co-development, joint ventures, and other relationships.
Safe Harbor Disclosure:This press release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These statements are subject to risks and
uncertainties that may cause actual results or events to differ
materially from those projected. Readers are cautioned not to place
undue reliance on forward-looking statements, which speak only as
of the date.
Investor Relations:info@impactbiomedinc.com
ProPhase Labs (NASDAQ:PRPH)
Historical Stock Chart
From Nov 2024 to Dec 2024
ProPhase Labs (NASDAQ:PRPH)
Historical Stock Chart
From Dec 2023 to Dec 2024