Nutrition 21 faces payment milestone
This article was originally published in The Tan Sheet
Executive Summary
The nutritional bioscience firm's revenues grow $500,000 to $2.7 million in its fiscal 2010 fourth quarter, trimming its net loss to $43,000 from $700,000 in the year-ago quarter. Purchase, N.Y.-based Nutrition 21 also cut its net loss for the full year, to $1.8 million from $4.2 million, as full-year revenues grew from $7.7 million to $8.8 million. In a Sept. 23 release, CEO Michael Zeher said the firm must pay approximately $17.8 million to satisfy a requirement to redeem preferred stock in September 2011. Nutrition 21 also will need to issue significant additional common shares if the firm's share price "remains at very low levels" and if it continues to pay preferred dividends in stock, Zeher added. The firm said its fiscal improvement for the year comes from selling its Branded Products Group during its second quarter, an emphasis on expense controls, sales led by chromium picolinate and the launch of new products
You may also be interested in...
Boehringer Ingelheim Overtakes Bayer As Germany’s Biggest Pharma Company
The privately owned company is searching for a successor to Jardiance, while the outcome of US Inflation Reduction Act talks on price cuts to the blockbuster will be revealed in September.
Synthekine Joins Quest To Tame IL-2 In Cancer Therapies
First clinical data from Synthekine’s IL-2 candidate and that ofrivalsMedicennawere presented at the AACR, suggesting there’s life in the modality yet.
Swisse Supplements Take Bigger Slice Of Chinese Market
Australian-heritage Swisse grew its share of China's supplements market in 2023 by delivering tailored products to an increasingly health conscious population.