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Business Upturn
30-07-2025
- Business
- Business Upturn
PetVivo Holdings Inc. to Trade on OTCQX Best Market
MINNEAPOLIS, July 30, 2025 (GLOBE NEWSWIRE) — PetVivo Holdings, Inc. (OTCQX PETV; OTCID: PETVW) working in cooperation with its wholly-owned subsidiary PetVivo Animal Health, Inc. (collectively 'PetVivo' or the 'Company'), an emerging biomedical device company focused on the commercialization of innovative medical devices and therapeutics for horses and companion animals, such as Spryng® with OsteoCushion® Technology and PrecisePRP®, today announced that the Company has qualified to trade on the OTCQX® Best Market. PetVivo Holdings Inc. upgraded to OTCQX from the OTCQB® Venture Market. PetVivo Holdings Inc. begins trading today on OTCQX under the symbol 'PETV.' U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on . The OTCQX Market is designed for established, investor-focused U.S. and international companies. The OTCQX Market has 625 securities as of today, while the broader OTC Markets Group includes approximately 12,000 securities. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. PetVivo's signature product, SPRYNG with OsteoCushion Technology, is an intra-articular injectable veterinary medical device consisting of sterilized, extra-cellular matrix microparticles. The microparticles of Spryng have been found to adsorb onto the joint synovial lining of animals and subsequently integrate with the animal's subsynovial tissue. Such action promotes the restoration of proper joint mechanics, thereby aiding in the management of noninfectious sources of joint pain such as joint instability, degenerative joint disease and osteoarthritis. PetVivo's other innovative product, PrecisePRP, is a first-in-class off-the-shelf platelet-rich plasma (PRP) product designed for use by veterinarians. PrecisePRP is a leucoreduced, allogeneic, pooled, freeze-dried PRP intended to provide a species-specific source of concentrated platelets in plasma for intra-articular administration in dogs and horses. Unlike any PRP mechanical kits currently on the market, PrecisePRP™ does not require a blood draw or centrifugation making it a truly off-the-shelf product that is easy and convenient. Perhaps more important is the uniformity and consistency that PrecisePRP® guarantees. Each vial of PrecisePRP® contains a consistent dose of 4 billion platelets per vial at a concentration of 500,000 platelets per microliter and is leucoreduced with less than 1500 white blood cells per microliter. 'Qualifying to trade on the OTCQX Best Market is a significant milestone for our Company,' said John Lai, Chief Executive Officer of PetVivo Holdings, Inc. 'This upgrade reflects our continued commitment to transparency, strong corporate governance, and delivering long-term value to our shareholders. Trading on OTCQX will enhance our visibility within the investment community and provide greater liquidity and accessibility for investors as we continue to execute on our strategic growth initiatives.' For more information about PetVivo Holdings, Inc. please contact [email protected] or visit , and . About PetVivo Holdings, Inc. PetVivo Holdings Inc. (OTCQX: PETV; OTCID: PETVW) is an emerging biomedical device company currently focused on the manufacturing, commercialization and licensing of innovative medical devices and therapeutics for equine and companion animals. The Company's strategy is to leverage human therapies for the treatment of equine and companion animals in a capital and time efficient way. A key component of this strategy is the accelerated timeline to revenues for veterinary medical devices, which enter the market much earlier than more stringently regulated pharmaceuticals and biologics. PetVivo has a robust pipeline of products for the treatment of animals and people. A portfolio of twelve patents and six trade secrets protects the Company's biomaterials, products, production processes and methods of use. The Company's lead products SPRYNG™ with OsteoCushion™ technology, a veterinarian-administered, intra-articular injection for the management of lameness and other joint related afflictions, including osteoarthritis, in cats, dogs and horses, and PrecisePRP, a first-in-class, off-the-shelf, platelet-rich plasma (PRP) product designed for use by veterinarians, are currently available for commercial sale. CONTACT: John Lai, CEO PetVivo Holdings, Inc. Email: [email protected] (952) 405-6216
Business Upturn
30-06-2025
- Business
- Business Upturn
PetVivo Reports Fiscal 2025 Results
By GlobeNewswire Published on July 1, 2025, 01:10 IST MINNEAPOLIS, MN, US, June 30, 2025 (GLOBE NEWSWIRE) — PetVivo Holdings, Inc. and its wholly-owned subsidiary PetVivo Animal Health, Inc. (OTCQB: PETV; OTCPINK: PETVW), a leading biomedical company delivering innovative medical therapeutics for equines and companion animals, reported results for its fiscal year ended March 31, 2025. All comparisons are to the previous fiscal year period unless otherwise noted. The company has filed for an extension for the filing of its Form 10-K for the fiscal year ending March 31, 2025, therefore all financial results reported in this press release are unaudited preliminary estimates, and are subject to change. The company will hold a conference call today at 5:00 p.m. Eastern time to discuss the preliminary results for the year (see dial-in information below). Fiscal 2025 Financial Highlights Revenues increased 17% to a record $1.1 million, with the strong growth due to the company continued expansion from the equine market into the larger and faster-growing companion animal market with sales of the company's lead animal osteoarthritis medical device, Spryng ® with OsteoCushion ™ Technology. with OsteoCushion Technology. National distributor network sales increased 31% to $958,000 or 85% of total revenues, largely driven by the addition of two national distributors. Gross profit increased 15% to $995,000, with gross margin at 87.8%. Operating loss decreased 24% to $8.1 million. The substantial improvement was due to the company's strategic corporate restructuring and cost reduction program implemented during the year, which was partly offset by increased investment in R&D as well as in personnel to support the expansion of the sales and marketing teams to better address the equine and companion animal markets. Net loss decreased 27% to $8 million or $(0.39) per basic and diluted. Net cash used in operating activities decreased by 40% or $2.9 million compared fiscal 2024, primarily due to the strategic company-wide cost reduction and restructuring program. Cash and cash equivalents totaled $227,689 at March 31, 2025, compared to $87,403 at March 31, 2024, with the increase primarily due to equity financings. Subsequent to the fiscal year end, the company raised additional net proceeds of $4.4 million to support its growth strategies for fiscal 2026. As a result, the company's cash and cash equivalents totaled approximately $3.3 million as of June 30, 2025. Fiscal 2025 Operational Highlights Reached major milestone of Spryng ® administered by more than 1,000 veterinary clinics across all 50 states since its official introduction to the veterinary market in 2021, with this having a meaningful impact on the health, well-being and mobility of thousands of equines and companion animals. administered by more than 1,000 veterinary clinics across all 50 states since its official introduction to the veterinary market in 2021, with this having a meaningful impact on the health, well-being and mobility of thousands of equines and companion animals. Entered transformative strategic alliance with Digital Landia, Inc., a pioneer in Agentic artificial intelligence (AI) solutions. Collaboration centers on equine and companion animal AI, Digital Landia's revolutionary technology that deciphers animal behavior and communication through real-time analysis of vocalizations, body language, and physiological signals captured via smartphone cameras with 97% accuracy. This AI-powered technology is being integrated with PetVivo's veterinary products as a first-of-kind global pet care ecosystem, with initial beta testing currently underway. Signed an exclusive licensing and supply agreement with VetStem, Inc. that provides PetVivo the rights to commercialize VetStem's proprietary and revolutionary allogeneic platelet rich plasma (PRP) product, PrecisePRP ® , for horses and dogs. The company has just begun sales of PrecisePRP and is receiving a favorable response from veterinarians regarding the ease of use of this regenerative product. , for horses and dogs. The company has just begun sales of PrecisePRP and is receiving a favorable response from veterinarians regarding the ease of use of this regenerative product. Strengthened our sales and marketing program with the promotion of April Boyce to the new position of vice president of sales and marketing. She has brought to PetVivo more than 25 years of experience in marketing, sales, strategic partnerships, and global product licensing, including executive positions at Procter & Gamble (P&G) and Clorox. Enhanced the commercialization team with the appointment Bryan Monninger as vice president of distributor relations and corporate accounts. He brings to PetVivo more than 20 years of experience in sales and marketing, including senior executive positions at Hill's Pet Nutrition, Novus International and Lintbells, as well as the Fortune 500 companies, Colgate-Palmolive, ConAgra and Hormel Foods. Appointed board certified veterinary surgeon, Dr. Kirsty Husby, DVM, MS, DACVS (LA), to the position of senior technical services veterinarian. She brings to PetVivo more than a decade of experience and accomplishment in animal health, including clinical practice and research experience at leading animal clinics and educational institutions. Dr. Juli Goldstein, DVM, CHPV was appointed to the position of technical services veterinarian, bringing to the role extensive experience across various disciplines, including small animal emergency and general practice, marine wildlife medicine, clinical research, and laboratory animal care in North America and internationally. Teamed with Orthobiologic Innovations, Inc., a leader in R&D for regenerative and sports medicine, to pursue new clinical trials, product development and marketing of Spryng ® . This has resulted in a substantial accumulation of valuable data regarding the application of Spryng ® in a canine elbow osteoarthritis study currently underway. . This has resulted in a substantial accumulation of valuable data regarding the application of Spryng in a canine elbow osteoarthritis study currently underway. Deployed several new highly experience business development managers for coverage across several U.S. states and regions to provided localized coverage and support for veterinarian clinics and distributors. Added Vedco, Inc. and Clipper Distributing, LLC to company's nationwide distributors network, who in turn supply veterinary products to some of the nation's largest veterinary product distributors in the U.S., including MWI, Covetrus, Patterson, Midwest Supply, Penn Supply and others. They have quickly ramped up and collectively contributing more than $483,000 in sales during the last four months of the fiscal year. Exhibited and spoke at seven major veterinary conferences as well as at several smaller industry events during the fiscal year, demonstrating the research-backed benefits of Spryng ® to veterinarians, including leading sports medicine and rehabilitation experts in the veterinary industry. The events have helped to drive greater adoption of Spryng ® by expanding the awareness among key decision-makers of its effectiveness and benefits in the treatment of osteoarthritis in animals. to veterinarians, including leading sports medicine and rehabilitation experts in the veterinary industry. The events have helped to drive greater adoption of Spryng by expanding the awareness among key decision-makers of its effectiveness and benefits in the treatment of osteoarthritis in animals. Significantly bolstered the company's executive leadership with the appointment of board member, Mike Eldred, as the company's commercialization and operations advisor. He has brought to the position more than 30 years of executive experience in animal health and the veterinary industry, and has been responsible for advancing product development and driving sales growth. He previously built Dechra Pharmaceutical's North American subsidiary into one of the fastest growing companies in the industry, with more than 250 employees and annual revenue exceeding $450 million. Subsequent Events Signed definitive distribution agreement with Eq Especialidades to inventory, market and promote Spryng ® throughout Mexico, representing the company's first entrance into the international market. throughout Mexico, representing the company's first entrance into the international market. Established a strategic partnership with PiezoBioMembrane, a pioneer in biodegradable piezoelectric materials intended for implantable applications, to advance research and development of revolutionary functional biomaterials that promote regeneration and/or remodeling of damaged or injured tissue and bone in animals and humans. Closed the remaining $4.4 million purchase option as part of a private placement offering initiated in March 2025 totaling $5 million in equity financing in exchange for five million shares of the company's Series B convertible preferred stock at $1.00 per share, with a preferred share to a common share on a one-for-one basis. Management Commentary 'Fiscal year ending March 31, 2025 was a strong and very productive year for PetVivo, as we continued to expand the use of our lead animal osteoarthritis medical device, Spryng® with OsteoCushion® Technology, as well as our new, innovative product, PrecisePRP®, and this resulting in another year of record sales,' commented PetVivo CEO, John Lai. 'We also greatly strengthened our product platform with the addition of innovative technologies from new major partnerships that we formed during the year—technologies involving both diagnostics and new medical treatments that we expect to be transformative for both our platform and the veterinarians we serve. We anticipate these to become strong future growth drivers. 'Since the market introduction of Spryng® the fall of 2021, it has now been used by more than 1,000 veterinary clinics across all 50 states. Now with the recent addition of or first international distributor in Mexico, we can count on several new clinics in that country using Spryng®. 'The North American expansion of our distribution network also helped drive the double-digit revenues growth for the year, with our nationwide distributor network now contributing 85% of our total revenues. This growth demonstrates how our distributors have become strong force-multipliers for our in-house sales force and regional managers. 'Our strong topline results also reflect the success of our transition from addressing primarily the equine market to expanding into the much larger and faster-growing companion animal market. Our increased emphasis on this market required a full realignment of our sales force during the year. We deployed several new highly experienced territory managers nationwide, as well as added new leadership and professional sales representatives to support them. 'Our new internal sales reps and technical service veterinarians are supporting our sales and marketing teams as they further develop relationships with the nation's leading veterinary clinics and distributors. These moves resulted in an increased portion of our overall revenues generated from this companion animal market, while maintaining very a favorable overall high gross margin of 87.8%. 'Our sales and marketing programs were also greatly strengthened with April Boyce becoming our new vice president of sales and marketing. In this position, she has been applying her more than 25 years of experience in marketing, sales, strategic partnerships, and global product licensing, including executive positions at Procter & Gamble and Clorox. Her efforts have been truly transformative for our company as we've worked to expand further into the companion animal marketplace. 'We also greatly enhanced our distribution and corporate accounts team leadership with the appointment of Bryan Monninger as vice president of distributor relations and corporate accounts. He brought to us more than 20 years of success in sales and marketing while serving in senior executive positions at Hill's Pet Nutrition, Novus International, and Lintbells, as well as at the Fortune 500 companies of Colgate-Palmolive, ConAgra and Hormel Foods. 'Also, during the year, we strengthened our board and leadership team with the appointment of Mike Eldred to our board of directors, and then with his appointment as our commercialization and operations advisor. In this new position, he has been championing our refocused operations and commercialization efforts. 'Mike has brought to us more than 30 years of executive experience and accomplishment in animal health and the veterinary industry. Most notably, he built Dechra Pharmaceutical's North American subsidiary into one of the fastest growing companies in the industry, with more than 250 employees and annual revenue exceeding $450 million. His experience and strong record of achievement in pharmaceutical and animal health provides us a tremendously valuable resource for achieving our business goals. 'Investors have also taken notice of our success and strengthened future growth prospects, as evidenced by our successful offering of a $5 million Series B Convertible Preferred Stock which we announced as fully funded and closed last week. The proceeds have been earmarked to support the further commercialization and market penetration of our lead animal health products. 'Our overall strategy to drive the greater adoption of Spryng® has been to expand the awareness of its effectiveness and benefits among key decision-makers, and to do this at an increasingly greater scale. Toward this end, during the year we exhibited at several major veterinary conferences across the country, seven in total, as well participated in several smaller industry events. These events have presented valuable opportunities to demonstrate the advantages of Spryng® to key decision makers and show firsthand the beneficial results from administering Spryng® to horses and companion animals. 'From these events we have also gained a better understanding of our market and the types of veterinarians we should be targeting. This includes vets who specialize in surgery, sport medicine, rehabilitation and/or pain management. Such specialties in the veterinary medical field have increased in recent years, primarily due to the many advancements made in veterinary science, the growing population of pet owners and their desire for specialized care. 'This trend is also being driven by the increasing adoption of pet insurance that helps make advanced treatments more accessible and affordable. All of these trends bode well for the greater adoption of Spryng® and PrecisePRP as well as the other new product offerings we've added to our platform. 'We have continued to accumulate impressive data from a new canine elbow study being conducted by Orthobiologic Innovations, a leader in R&D for regenerative and sports medicine. We expect it to be completed before the end of the calendar year. Such clinical studies play a crucial role in our distribution strategy because large national and international distributors typically desire university or independently conducted research before they add a new product to their catalog. 'To further extend our market reach with greater efficacy, in the latter part of the year we added Vedco, Inc. and Clipper Distributing, LLC to our nationwide distributors network. Both have quickly ramped up and collectively contributed more than $483,000 in sales in just the final four months of the fiscal year. 'We also expanded our technology platform with the signing of an exclusive licensing and supply agreement with VetStem, Inc. that grants us the right to commercialize their revolutionary PrecisePRP, a allogeneic platelet rich plasma product for horses and dogs. This is a first-in-class off-the-shelf platelet-rich plasma product designed for use by veterinarians for elite equine athletes. 'We recently announced a new strategic collaboration with Commonwealth Markets, Inc., the syndicated ownership group behind the 2023 Kentucky Derby winner. Commonwealth will integrate Spryng® and Precise PRP into the care protocols of its top-tier thoroughbred stable. They will be used as a preventative measure and as a treatment solution to promote joint health, extend performance longevity, and support recovery in high-impact training and racing environments. 'We also recently established a strategic partnership with PiezoBioMembrane, Inc., a pioneer in biodegradable piezoelectric materials intended for implantable applications. Together we plan to advance the research and development of revolutionary functional biomaterials which promote regeneration and remodeling damaged or injured tissue and bones. 'In March of this year, we entered a groundbreaking and transformative strategic alliance with Digital Landia, Inc., a pioneer in Agentic AI solutions. This collaboration focuses on Pet AI, Digital Landia's revolutionary technology that deciphers animal behavior and communication at an amazing 97% accuracy through the real-time analysis of vocalizations, body language, and physiological signals captured via a Smartphone camera. 'This AI technology represents a paradigm shift in how we understand our pets. By aligning our clinically proven therapies with this technology, we have uniquely positioned PetVivo at the intersection of AI innovation and veterinary care. 'We anticipate Pet AI will rival mainstream AI applications in adoption rates, creating unparalleled visibility for our brands, including Spryng® and PrecisePRP. The technology is currently being integrated with our veterinary products as a first-of-kind global pet care ecosystem, with initial beta testing now underway. We're looking forward to announcing some amazing results. 'Altogether, the cross pollination of these technologies is creating an exciting new future for PetVivo, one that is transformative for not only us but also for the veterinarians and the precious patients they serve. 'As the result of the many inroads we have made at conferences over the past year, combined with our expanded sales force and distributor network and our more efficient operational structure, we expect to see continued strong sales momentum and market penetration in fiscal 2026. 'In fact, we have never been in a greater position to accelerate our growth and expand into our high growth markets over the coming year and beyond. The U.S. animal health market is projected to double to $11.3 billion by 2030. Such massive growth is rare for such an already large industry, and it provides us tremendous tailwinds. 'As we continue to grow and expand, we will remain committed to advancing the best in pet health solutions and ensuring that our products reach more veterinary professionals and pet owners. For fiscal 2026, we look forward to building upon the many advancements we made over the last year and driving greater value for our stakeholders.' Fiscal 2026 Outlook For the full fiscal year ending March 31, 2026, the company anticipates another year of record growth and improving bottom line as it continues to expand the use of its Spryng® with OsteoCushion® Technology as well as other new products offered by its expanded medical therapeutics platform. Conference Call PetVivo management will host a conference call later today to discuss these results, which will include a question-and-answer period. Date: Monday, June 30, 2025Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)Toll-free dial-in number: +1 (253) 205-0468Conference ID: 83424004566Passcode: 352845 Webcast (live & replay): click here A replay of the webcast will be available through the same link following the conference call. The conference call webcast is also available via a link in the Investors section of the company's website at About PetVivo Holdings PetVivo Holdings Inc. (OTCQB: PETV; OTCPINK: PETVW), and its wholly-owned subsidiary PetVivo Animal Health, Inc., is an emerging biomedical device company focused on the manufacturing, commercialization and licensing of innovative medical devices and therapeutics for companion animals. The company's strategy is to leverage human therapies for the treatment of companion animals in a capital and time efficient way. A key component of this strategy is the accelerated timeline to revenues for veterinary medical devices which enter the market much earlier than more stringently regulated pharmaceuticals and biologics. PetVivo has a robust pipeline of products for the treatment of animals and people. A portfolio of 12 patents protect the company's biomaterials, products, production processes and methods of use. The company's lead products SPRYN® with OsteoCushion™ technology, is a veterinarian-administered, intra-articular injection for the management of lameness and other joint related afflictions, including osteoarthritis, in cats, dogs and horses. It also offers PrecisePRP, a first-in-class, off-the-shelf, platelet-rich plasma (PRP) product designed for use by veterinarians. Both are currently available for commercial sale. To learn more, visit or Disclosure Information PetVivo uses and intends to continue to use its Investor Relations website as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the company's Investor Relations website, in addition to following the company's press releases, SEC filings, public conference calls, presentations and webcasts. Forward-Looking Commercial Statements The foregoing information regarding PetVivo Holdings, Inc. (the 'Company') may contain '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, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation the Company's proposed development and commercial timelines, and can be identified by the use of words such as 'may,' 'will,' 'expect,' 'project,' 'estimate,' 'anticipate,' 'plan,' 'believe,' 'potential,' 'should,' 'continue' or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of uncertainties and risks that could significantly affect current plans. Risks concerning the Company's business are described in detail in the Company's Annual Report on Form 10-K for the year ended March 31, 2025 and other periodic and current reports filed with the Securities and Exchange Commission. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. Company ContactJohn Lai, CEOPetVivo Holdings, Contact Tel (952) 405-6216 Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
14-02-2025
- Business
- Yahoo
PetVivo Reports Fiscal Q3 2025 Results
MINNEAPOLIS, MN, US, Feb. 14, 2025 (GLOBE NEWSWIRE) -- PetVivo Holdings, Inc. (OTCQB: PETV; OTCPINK: PETVW), a leading biomedical company delivering innovative therapeutics and medical devices for equines and companion animals, reported results for its fiscal third quarter ended December 31, 2024. All comparisons are to the same year-ago period unless otherwise noted. The company will hold a conference call today at 3:00 p.m. Eastern time to discuss the results for the period (see dial-in information below). Fiscal Q3 2025 Financial Highlights Revenues totaled $583,000, up 191% sequentially and declined 2% from the same year ago period, reflecting the company's continued efforts from targeting primarily the equine market to include at a greater scale the much larger companion animal market. These efforts have involved a realignment and expansion of the company's sales force, with this producing an increased portion of sales related to companion animals in the past few quarters. Nationwide distributor network sales totaled $545,000, up 222% sequentially and relatively consistent from the same year ago period. Gross profit declined 2% to $522,000, with gross margin maintained at a highly favorable 89.5%. Operating loss totaled $1.8 million, improving by $375,000. The large reduction was due to the company's strategic corporate restructuring and cost reduction program. Net loss totaled $1.76 million or $(0.09) per basic and diluted share, as compared to a net loss of $1.75 million or $(0.12) per basic and diluted share in the same year-ago quarter. Fiscal Q3 2025 Operational Highlights Continued to expand the distribution network of PetVivo's lead animal osteoarthritis medical device, Spryng® with OsteoCushion® Technology has been used by more than 800 veterinary clinics across all 50 states since its introduction to the veterinary market. Substantial accumulation of data for elbow osteoarthritis canine study with principal investigators from Orthobiologic Innovations, a leader in R&D for regenerative and sports medicine. Appointed Cindy Gill to the position of field veterinary business development manager for Oklahoma and Arkansas and the northern region of Texas. Hired two experienced sales representatives and a technical service veterinarian to support the company's territory managers. Exhibited at two major veterinary conferences: American College of Veterinary Surgeons Surgery Summit and American Association of Equine Practitioners convention. Management Commentary 'During the fiscal third quarter, we continued to expand our nationwide distribution network for our lead animal osteoarthritis medical device, Spryng with OsteoCushion™ Technology,' commented PetVivo CEO, John Lai. 'Since this revolutionary device's introduction to the market in the fall of 2021, it has now been used by more than 800 veterinary clinics across all 50 states. The nationwide expansion of our distribution network helped drive a 191% sequential quarterly increase in revenues to $583,000, with our nationwide distributor network sales contributing $545,000 of this total. Our fiscal third quarter is also typically the largest quarter of the year, with this mostly due to the exposure we receive at major veterinary conferences that occur during the period. While total revenues increased sequentially, they declined 2% from the same year ago period. This reflects our continued endeavors in focusing a greater effort towards the much larger companion animal market. Our team is now focused upon expanding both the equine and small animal markets going forward. The increased emphasis on the small animal market has involved a realignment and expansion of our sales force, with this resulting in an increased portion of sales related to companion animals in the third quarter. Meanwhile, we've been able to maintain our very favorable high gross margins of 89.5%. To further accelerate our growth, we have added a number of territory managers, as well as some highly experienced sales representatives and another senior technical services veterinarian to support our territory managers. These internal sales reps and technical services veterinarian are also supporting our direct sales and marketing to leading veterinary clinics. We have also enhanced our leadership talent with the appointment of Mike Eldred as a Director to assist in the Company's operations and commercialization; Mr. Eldred was appointed to the Board in September, 2024. In this appointment, Mr. Eldred has been asked to assume the tasks and responsibilities of a Commercial and Operations Advisor. Mr. Eldred built Dechra's North American subsidiary from the 'ground up' to become one of the fastest growing companies in the industry, with more than 250 employees and revenue in excess of $450 million. Mr. Eldred's experience and strong record of business achievement in pharmaceutical and animal health brings to our company a tremendously valuable resource for achieving our business goals. A key aspect of our strategy to drive greater adoption of Spryng is to expand the awareness of its effectiveness and benefits among key decision-makers, and do this at an increasingly greater scale. To support this effort, we participated in two major veterinary conferences last quarter, along with several smaller industry events. In October, we exhibited at the American Association of Equine Practitioners Convention Surgery Summit, where we demonstrated Spryng to leading veterinarian surgeons. Furthermore, in December we participated in the American College of Veterinary Surgeons Surgery Summit, where Spryng was on display to the equine veterinary community. Finally, in January, we presented Spryng to a large number of veterinarian practitioners at the Veterinary Meeting & Expo Conference or VMX. VMX is the largest veterinary conference in the U.S. and hosts many of the industry's top professionals. These events were great opportunities to demonstrate the advantages of Spryng, and the beneficial results we have seen when administered to horses and companion animals, both anecdotally and in numerous clinical studies. During the third fiscal quarter, we continued the accumulation of data for our canine elbow study being conducted with Orthobiologic Innovations, a leader in R&D for regenerative and sports medicine. The study is being led by prominent veterinarians, Sherman and Debra Canapp and we expect it to be fully completed within the new few quarters. In addition to pursuing new clinical trials for Spryng, the experts at Orthobiologic Innovations are also supporting our product development and marketing. Studies like the canine elbow study, as well as our completed studies related to the management of stifle cranial cruciate ligament disease and hip osteoarthritis, play a crucial role in our distribution strategy, as large national and international distributors often require university or independently conducted research before adding a new product like ours to their catalog. With our already completed clinical studies, we believe we have sufficient data to secure large corporate clients who have extensive veterinary clinic networks nationwide. We estimate about 75% of veterinary clinics are owned by such major corporate groups, and we anticipate engaging several of them regarding the use of Spryng in the upcoming quarters. We also announced in the third quarter new distribution partnerships with Vedco and Clipper Distributing -- both leaders in logistical solutions and product supply to veterinarians. Vedco and Clipper distribute to many of the largest national veterinary product distribution entities in the U.S., including MWI, Covetrus, Patterson, Midwest Supply and Penn Supply -- just to name a few. With these distribution partnerships, we can help ensure that veterinarians across the country have easy access to Spryng. Altogether, with our expanding distributor network, the completion of additional clinical studies, and our more efficient operational structure, we believe we are more well-positioned than ever to accelerate our growth over the next year and beyond. The expansion of our distribution network also means we are in the strongest position to capitalize on the vast opportunities in U.S. animal health marketplace, which today totals more than $5.7 billion …and is projected to double to $11.3 billion by 2030. Another key milestone for the Company has been the signing of an exclusive licensing and supply agreement with VetStem, Inc. This partnership provides PetVivo the right to commercialize VetStem's proprietary allogeneic platelet rich plasma ('PRP') product for horses and dogs, PrecisePRP®. We are thrilled by the opportunity to work with this revolutionary product and VetStem's team of professionals. As we grow, we will remain committed to advancing pet health solutions and ensuring that our products reach more veterinary professionals and pet owners. We look forward to building on these advancements as we continue to strengthen our market presence and drive greater value for our stakeholders.' Fiscal 2025 Revenue Outlook For the company's full fiscal year 2025 ending March 31, 2025, it appears that its outlook for net revenue to total approximately $1.1 million. This would represent growth of approximately 10% over the prior year. Given this growth and the realignment in sales and marketing, combined with decreases in certain operating expenses, the company also expects an improved bottom line for the fiscal year. Fiscal Q3 2025 and Fiscal First Nine Months of 2025 Financial Summary Revenues in the fiscal third quarter of 2025 decreased 2% to $583,000, largely due to decreased direct sales to veterinary clinics as the company transitions to greater use of its expanding distribution network. Sales to distributors were relatively consistent in the quarter during this transitional period, with the anticipated longer-term benefit of more rapid sales growth and market expansion. Gross profit totaled $522,000 or 89.5% of revenues, compared to $533,000 or 89.5% of revenues in the same year-ago period. Revenues in the fiscal first nine months of 2025 declined 1% to $908,000 compared to $920,440 in the same year-ago period. Gross profit totaled $812,000 or 89.5% of revenues in the first nine months of 2025, compared to $824,000 or 89.5% of revenue in the same year-ago period. Operating expenses for the nine months ending December 31, 2024, decreased by $2 million (23%) from the same nine months period ending on December 31, 2023. The expense reduction was due to a strategic company-wide cost reduction and restructuring program that has decreased general and administrative expenses by $1 million, and a reduction of sales and marketing expenses by $1.2 million versus the same nine months a year-ago. The decreases were partially offset by an increase in R&D of $220,000 due to the performance of clinical trials to support the underlying science behind our Spryng product. For the nine months ending, our net loss totaled $6 million or $(0.30) per basic and diluted share, which was $2.3 million less net loss of $8.3 million or $(0.64) per basic and diluted share in the same nine-month period a year-ago. Net loss for the third quarter totaled $1.76 million or $(0.09) per basic and diluted share compared to a net loss of $1.75 million or $(0.12) per basic and diluted share in the same year-ago quarter. Cash and cash equivalents totaled totaled $29,000 at December 31, 2024. To improve our cash position, from the end of the quarter we completed a capital raise with net proceeds of approximately $1.1 million. We expect these funds to keep the company on track to execute our growth strategies over the next few months. As a result of this recent raise, our cash and cash equivalents currently total approximately $418,000. Our net cash used in operating activities for the nine months ending December 31, 2024, decreased 31% or $1.8 million compared to the same nine-months period ending December 31, 2023, demonstrating how we have become more efficient and cost-wise with our cash spending and company-wide cost cutting program. For a more detailed overview of the company's financials, see PetVivo Holdings' consolidated statements of operations and consolidated balance sheet, below. Conference CallPetVivo will host a conference call today to discuss these results, which will include a question-and-answer period. Date: Friday, February 14, 2025Time: 2:00 p.m. CST (3:00 pm EST)Dial-in: +1 253 215 8782Meeting ID: 84361016783Passcode: 632113Webcast (live and replay): here A replay of the webcast will be available through the same link following the conference call. The conference call webcast is also available via a link in the Investors section of the company's website at About PetVivo HoldingsPetVivo Holdings, Inc. (OTCQB: PETV; OTCPINK: PETVW) is a biomedical device company focused on the manufacturing, commercialization and licensing of innovative medical devices and therapeutics for companion animals. The company is pursuing a strategy of developing and commercializing human therapies for the treatment of companion animals in capital and time efficient ways. A key component of this strategy is an accelerated timeline to revenues for veterinary medical devices that can enter the market much earlier than more stringently regulated human pharmaceuticals and biologics. PetVivo has developed a robust pipeline of products for the medical treatment of animals and people, with a portfolio of 21 patents that protect the company's biomaterials, products, production processes and methods of use. The company's commercially launched flagship product, Spryng® with OsteoCushion® Technology, is a veterinarian-administered, intra-articular injectable designed for the management of lameness and other joint related afflictions, including osteoarthritis, in cats, dogs and horses. For more information about PetVivo and its revolutionary Spryng with OsteoCushion Technology, email info1@ or visit or Disclosure InformationPetVivo uses and intends to continue to use its Investor Relations website as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the company's Investor Relations website, in addition to following the company's press releases, SEC filings, public conference calls, presentations and webcasts. Forward-Looking commercial StatementsThe foregoing information regarding PetVivo Holdings, Inc. (the 'Company') may contain '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, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation the Company's proposed development and commercial timelines, and can be identified by the use of words such as 'may,' 'will,' 'expect,' 'project,' 'estimate,' 'anticipate,' 'plan,' 'believe,' 'potential,' 'should,' 'continue' or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of uncertainties and risks that could significantly affect current plans. Risks concerning the Company's business are described in detail in the Company's Annual Report on Form 10-K for the year ended March 31, 2024, and other periodic and current reports filed with the Securities and Exchange Commission. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. Company ContactJohn Lai, CEOPetVivo Holdings, ContactTel (952) 405-6216 PETVIVO HOLDINGS, BALANCE SHEETS(UNAUDITED) December 31, 2024 March 31, 2024 (Unaudited) Assets: Current Assets Cash and cash equivalents $ 28,891 $ 87,403 Accounts receivable 493,121 18,669 Inventory, net 353,307 390,076 Prepaid expenses and other assets 351,510 545,512 Total Current Assets 1,226,829 1,041,660 Property and Equipment, net 770,267 821,656 Other Assets: Operating lease right-of-use 1,055,150 1,194,348 Trademark and patents, net 25,104 30,099 Security deposit 34,990 27,490 Total Other Assets 1,115,244 1,251,937 Total Assets $ 3,112,340 $ 3,115,253 Liabilities and Stockholders' Equity: Current Liabilities Accounts payable $ 1,028,679 $ 821,230 Accrued expenses and other payables 410,056 243,030 Operating lease liability – short term 191,766 190,589 Note payable and accrued interest 1,305,813 157,521 Total Current Liabilities 2,936,314 1,412,370 Other Liabilities Operating lease liability (net of current portion) 863,384 1,003,759 Note payable and accrued interest (net of current portion) 7,423 13,171 Total Other Liabilities 870,807 1,016,930 Total Liabilities 3,807,121 2,429,300 Commitments and Contingencies Stockholders' Equity: Series A Preferred Stock, par value $0.001, 20,000,000 shares authorized, 3,045,000 and zero issued and outstanding at December 31, 2024 and March 31, 2024, respectively 3,045 - Common Stock, par value $0.001, 250,000,000 shares authorized, 21,251,784 and 17,058,620 issued and outstanding at December 31, 2024 and March 31, 2024, respectively 21,252 17,059 Additional Paid-In Capital 88,059,840 83,468,218 Accumulated Deficit (88,778,918 ) (82,799,324 ) Total Stockholders' Equity (694,781 ) 685,953 Total Liabilities and Stockholders' Equity $ 3,112,340 $ 3,115,253 PETVIVO HOLDINGS, STATEMENTS OF OPERATIONS(UNAUDITED) Three Months Ended December 31, Nine Months Ended December 31, 2024 2023 2024 2023 Revenues $ 583,313 $ 595,891 $ 907,783 $ 920,440 Cost of Sales 61,497 62,569 95,653 96,646 Gross Profit 521,816 533,322 812,130 823,794 Operating Expenses: Sales and Marketing 723,461 1,032,575 1,878,180 3,053,184 Research and Development 371,953 351,584 1,224,642 1,004,780 General and Administrative 1,184,807 1,282,787 3,685,186 4,737,374 Total Operating Expenses 2,280,221 2,666,946 6,788,008 8,795,338 Operating Loss (1,758,405 ) (2,133,624 ) (5,975,878 ) (7,971,544 ) Other (Expense) Income Loss on Extinguishment of Debt - - - (534,366 ) Settlement Expense - - - (180,000 ) Extinguishment of payables - 385,874 - 385,874 Other Income (Expense) 25,745 - 25,745 - Interest (Expense) Income (24,378 ) (2,098 ) (29,461 ) (4,542 ) Total Other (Expense) Income 1,367 383,776 (3,716 ) (333,034 ) Loss before taxes (1,757,038 ) (1,749,848 ) (5,979,594 ) (8,304,578 ) Income Tax Provision - - - - Net Loss $ (1,757,038 ) (1,749,848 ) (5,979,594 ) (8,304,578 ) Net Loss Per Share: Basic and Diluted $ (0.09 ) (0.12 ) (0.30 ) (0.64 ) Weighted Average Common Shares Outstanding: Basic and Diluted 20,632,921 14,271,530 19,786,608 12,976,851 Sign in to access your portfolio
Yahoo
11-02-2025
- Business
- Yahoo
PETVIVO HOLDINGS, INC. TO ANNOUNCE RESULTS FOR THE THIRD QUARTER ENDED DECEMBER 31, 2024
MINNEAPOLIS, MN, US, Feb. 11, 2025 (GLOBE NEWSWIRE) -- PetVivo Holdings, Inc. (OTCQB: PETV and OTCPINK: PETVW), an emerging biomedical device company focused on the commercialization of innovative medical therapeutics for animals, will report financial results on Friday, February 14, 2025 after market close. The company will host a conference call to discuss these results at 2:00 p.m. CT (3:00 p.m. ET) on the same day. Attendees of the live webcast of the conference call and related earnings release materials can register and access the webcast on PetVivo's Investor Relations website at: A replay of the webcast will be available through the same link following the conference call. Participants can also access the call using the dial-in details below. Date: Friday, February 14, 2025 Time: 2:00 p.m CT (3:00 pm ET) Dial-in: +1 253 215 8782 Meeting ID: 84361016783 Passcode: 632113 About PetVivo Holdings PetVivo Holdings, Inc. (OTCQB: PETV; OTCPINK: PETVW) is a biomedical device company focused on the manufacturing, commercialization and licensing of innovative medical devices and therapeutics for companion animals. The company is pursuing a strategy of developing and commercializing human therapies for the treatment of companion animals in capital and time efficient ways. A key component of this strategy is an accelerated timeline to revenues for veterinary medical devices that can enter the market much earlier than more stringently regulated human pharmaceuticals and biologics. PetVivo has developed a robust pipeline of products for the medical treatment of animals and people, with a portfolio of 21 patents that protect the company's biomaterials, products, production processes and methods of use. The company's commercially launched flagship product, Spryng® with OsteoCushion® Technology, is a veterinarian-administered, intra-articular injectable designed for the management of lameness and other joint related afflictions, including osteoarthritis, in cats, dogs and horses. For more information about PetVivo and its revolutionary Spryng with OsteoCushion Technology, email info1@ or visit or Disclosure Information PetVivo uses and intends to continue to use its Investor Relations website as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the company's Investor Relations website, in addition to following the company's press releases, SEC filings, public conference calls, presentations and webcasts. Forward-Looking commercial Statements The foregoing information regarding PetVivo Holdings, Inc. (the 'Company') may contain '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, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation the Company's proposed development and commercial timelines, and can be identified by the use of words such as 'may,' 'will,' 'expect,' 'project,' 'estimate,' 'anticipate,' 'plan,' 'believe,' 'potential,' 'should,' 'continue' or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of uncertainties and risks that could significantly affect current plans. Risks concerning the Company's business are described in detail in the Company's Annual Report on Form 10-K for the year ended March 31, 2024 and other periodic and current reports filed with the Securities and Exchange Commission. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. Company Contact John Lai, CEO PetVivo Holdings, Inc. Email Contact Tel (952) 405-6216Sign in to access your portfolio
Associated Press
11-02-2025
- Business
- Associated Press
PETVIVO HOLDINGS, INC. TO ANNOUNCE RESULTS FOR THE THIRD QUARTER ENDED DECEMBER 31, 2024
MINNEAPOLIS, MN, US, Feb. 11, 2025 (GLOBE NEWSWIRE) -- PetVivo Holdings, Inc. (OTCQB: PETV and OTCPINK: PETVW), an emerging biomedical device company focused on the commercialization of innovative medical therapeutics for animals, will report financial results on Friday, February 14, 2025 after market close. The company will host a conference call to discuss these results at 2:00 p.m. CT (3:00 p.m. ET) on the same day. Attendees of the live webcast of the conference call and related earnings release materials can register and access the webcast on PetVivo's Investor Relations website at: https: // A replay of the webcast will be available through the same link following the conference call. Participants can also access the call using the dial-in details below. Date: Friday, February 14, 2025 Time: 2:00 p.m CT (3:00 pm ET) Dial-in: +1 253 215 8782 Meeting ID: 84361016783 Passcode: 632113 About PetVivo Holdings PetVivo Holdings, Inc. (OTCQB: PETV; OTCPINK: PETVW) is a biomedical device company focused on the manufacturing, commercialization and licensing of innovative medical devices and therapeutics for companion animals. The company is pursuing a strategy of developing and commercializing human therapies for the treatment of companion animals in capital and time efficient ways. A key component of this strategy is an accelerated timeline to revenues for veterinary medical devices that can enter the market much earlier than more stringently regulated human pharmaceuticals and biologics. PetVivo has developed a robust pipeline of products for the medical treatment of animals and people, with a portfolio of 21 patents that protect the company's biomaterials, products, production processes and methods of use. The company's commercially launched flagship product, Spryng® with OsteoCushion® Technology, is a veterinarian-administered, intra-articular injectable designed for the management of lameness and other joint related afflictions, including osteoarthritis, in cats, dogs and horses. For more information about PetVivo and its revolutionary Spryng with OsteoCushion Technology, email [email protected] or visit or Disclosure Information PetVivo uses and intends to continue to use its Investor Relations website as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the company's Investor Relations website, in addition to following the company's press releases, SEC filings, public conference calls, presentations and webcasts. Forward-Looking commercial Statements The foregoing information regarding PetVivo Holdings, Inc. (the 'Company') may contain '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, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation the Company's proposed development and commercial timelines, and can be identified by the use of words such as 'may,' 'will,' 'expect,' 'project,' 'estimate,' 'anticipate,' 'plan,' 'believe,' 'potential,' 'should,' 'continue' or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of uncertainties and risks that could significantly affect current plans. Risks concerning the Company's business are described in detail in the Company's Annual Report on Form 10-K for the year ended March 31, 2024 and other periodic and current reports filed with the Securities and Exchange Commission. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. Company Contact John Lai, CEO PetVivo Holdings, Inc.
