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NEXGEL's Q1 Earnings: BioNX Buyout & Revenue Triple
Description
NEXGELs Q1 earnings show flat revenue at $2.65M, down from $2.81M last year, due to declining Silly George sales, but boosted by contract manufacturing and MEDAGEL brand. Cash dropped to $1.8M after raising $13.8M for BioNX buyout. BioNX brings six regenerative products, expanding into a fast-growing healthcare niche. Pro forma, annual revenue triples to $35M, with profits boosted. Pipeline includes three devices launching in 2026-2027. Sales reps ramping up, with legacy business rebounding. Integration underway, targeting contract wins and consumer growth. More updates in August on Q2 and BioNX momentum.
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