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I wonder why Ferring decided to terminate it's partnership.
Why is this technology still languishing?
Have the facts changed?
Is it still almost or better than IVF (efficicy)?
Is it still ~1/2 cost?
What gives?
New Buyer.
Just purchased 300 shares after hours.
I am diversifying.
Need to catch up on this company.
What are big catalysts in near future?
I hope we all learned alot the last month of trading. the big guys shake the tree and steal your shares. DONT LET THEM DO THAT. be patient and we will be rewarded. good company and more partnerships to come this year!!!!
Shameful how institutions create panic and grab your shares./ok2
Drop the price again, I buy more. Thanks to the sellers./ok2
Shake the tree hard one more time. Nervous retailers selling. Will move back up. Oversold now, nothing has materially changed./ok2
Working hard to keep the lid on it! Yank your asks and watch this move back up!/ok2
Will close over $6.50, watch for afternoon runup!
Buying opportunity today after runup. Market shaking shares from weak hands who bought higher yesterday and are nervous. Best of luck to the longs./ok2
INVO Bioscience to Participate in the 35th Annual Meeting of the European Society of Human Reproduction and Embryology
$INVO is screaming for the top after the company announced an amended agreement that will lead to a substantial revenue increase. https://cnafinance.com/invo-stock-invo-bioscience-climbs-on-amendment/
This looks like a buy here after uplisting to the NASD and raising capital. I think this thing rallies to the high single digits based on potential revenues.
INVO has reverse split twice that equates to 1-32. Therefore at $3 per share it’s equivalent to less than $.10 which is the price it began trading in 2008 reverse merger. Great job Katie Karloff, Claude Ranoux and that jerk off Bob Bowdring for depleting and diluting shareholder value over a decade.
What a bunch of clowns that generate less revenues than a nail salon.
$3.06 close valuation is $15mil as Nob Bowdring former insider is dumping all of his shares
INVOD changed to INVO. Moved to the Nasdaq from the OTC:
https://otce.finra.org/otce/dailyList?viewType=Deletions
Two reverse splits effectively reverse it 1-32
If you started with 10,000 shares reduced to 500 then further reduced to 313 shares. Therefore $4.25 last print = $.1328 per share.
INVO hit $1.49 the day after fda approval.
When are they actually going to generate more than $250k per q in revenues? My local pizza sub shop generates more.
INVO: 5 for 8 reverse split:
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
Is INVO Bioscience Moving in the Right Direction After The recent Movement
https://pennystocks.news/is-invo-bioscience-moving-in-the-right-direction-after-the-recent-movement-invo/
INVO: effective May 26,2020 a one for 20 reverse split.
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
IVOB changed to INVO:
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
INVO on the move!
https://finance.yahoo.com/news/invo-bioscience-signs-joint-venture-140000291.html
Three new clinics in India.
INVO Bioscience Enters New Distribution Agreements in Africa to Commercialize the INVOcell In Vivo Fertilization System
PR Newswire PR Newswire•November 7, 2019
Agreements with commercialization partners support INVO Bioscience's planned worldwide rollout of INVOcell
SARASOTA, Fla., Nov. 7, 2019 /PRNewswire/ -- INVO Bioscience, Inc. (IVOB), a medical device company focused on creating alternative treatments for patients diagnosed with infertility and developers of INVOcell®, the world's only in vivo Intravaginal Culture System, today announced it has entered into commercialization agreements in the continent of Africa, covering Nigeria, Uganda, Sudan and Ethiopia, to distribute the revolutionary INVOcell system. The agreements represent INVO Bioscience's initial entry into the highly populated, yet in our opinion severely underserved infertility markets in Africa. The African commercialization agreements support INVO Bioscience's planned worldwide expansion of INVOcell and follow the recent agreement with Ferring Pharmaceuticals to distribute INVOcell in the United States.
We are a medical device company focused on creating simplified, lower cost treatments for patients diagnosed with infertility. Our solution, the INVO Procedure, is a disruptive new technology. The INVO Procedure is a revolutionary in vivo method of vaginal incubation that offers patients a more natural and intimate experience.
We are a medical device company focused on creating simplified, lower cost treatments for patients diagnosed with infertility. Our solution, the INVO Procedure, is a disruptive new technology. The INVO Procedure is a revolutionary in vivo method of vaginal incubation that offers patients a more natural and intimate experience.
More
According to research, approximately 31% of Nigerian couples fail to conceive a child after 12 months of unprotected sex—a rate at least as high as in the West. Across the continent, infertility is on the rise. Infertility comes with devastating social, cultural, emotional and economic consequences for young couples in Africa. However, access to assisted reproductive services remains a big challenge as traditional IVF treatment is limited in many areas of Africa.
The INVOcell system is a novel fertility treatment that uses a woman's own body as a natural incubator for the incubation of eggs and sperm during fertilization and early embryo development. This cost-effective process has shown comparable pregnancy rates to IVF and in our opinion has the ability to significantly increase patient access. The INVOcell system can eliminate the need for costly infrastructure and overhead associated with IVF, one of the primary hindering factors to fertility treatment in many areas of the continent. Additionally, we believe our unique in vivo fertilization process is a powerful motivator for many patients and in our opinion the only acceptable option available to some patients for religious and cultural reasons.
INVO Bioscience has entered into distribution agreements with G-Systems covering Nigeria, and Quality Medicine covering Uganda, Sudan and Ethiopia. Following standard administrative requirements by each company to begin supplying INVOcell in the country, the Company believes distribution will commence in 2020. Each agreement includes minimum annual purchase requirements. Full terms of the agreement were not disclosed.
Steve Shum, CEO of INVO Bioscience, commented, "One of our key objectives moving forward is the rapid adoption of the INVOcell system across the world by entering into commercialization agreements that make sense for the Company and the particular market they serve. G-Systems and Quality Medicine have long-standing experience in the fertility equipment and services market and are enthusiastic about offering the INVOcell solution to their customer base."
Pressly Ahammed, Director of Business Development for INVO Bioscience, added, "I have had great experience working with the teams at G-Systems and Quality Medicine during my tenure at Cooper Surgical. Both of these companies have a reputation for high quality customer service and are trusted by top medical device companies from around the world. Further, both have a specialized focus within infertility that will serve INVO Bioscience well. We look forward to a long and prosperous relationship."
News - INVO Bioscience Announces the Appointment of Steve Shum as Chief Executive Officer
Kathleen Karloff remains Chair of the Board of Directors and an active member of the operations team
We are a medical device company focused on creating simplified, lower cost treatments for patients diagnosed with infertility. Our solution, the INVO Procedure, is a disruptive new technology. The INVO Procedure is a revolutionary in vivo method of vaginal incubation that offers patients a more natural and intimate experience.
NEWS PROVIDED BY
INVO Bioscience, Inc.
Oct 14, 2019, 08:30 ET
SARASOTA, Fla., Oct. 14, 2019 /PRNewswire/ -- INVO Bioscience, Inc. (OTCQB: IVOB), a medical device company focused on creating alternative treatments for patients diagnosed with infertility & developers of INVOcell®, the first FDA-cleared Intravaginal Culture System, today announced the appointment of Steven Shum as the Company's Chief Executive Officer, effective immediately. Shum succeeds Kathleen Karloff, who is planning to retire after 12+ years with the Company as its CEO. Karloff will remain in an operational role over the near term, will continue to advise, lend guidance and support to the Company, and will remain Chair of the Board of Directors.
"It has been an honor to serve as the CEO of INVO Bioscience for the last 12 years," Karloff said. "The technology the Company has developed is revolutionizing the fertility industry by expanding access to treatment with a more natural, effective and cost-efficient solution. Over the last 3 and half years, we have attained regulatory approvals in the U.S. and key international markets, and signed a significant distribution agreement in the U.S. with one of the leaders in the marketplace, Ferring Pharmaceuticals. We believe INVO Bioscience is well-positioned to advance to the next stage of its growth under the leadership of Steve Shum. In my opinion, Steve has the passion and experience to advance a number of the key objectives we have set forth to become a leader in the industry and a more visible public company."
Mr. Shum has served as a member of the INVO Bioscience board of directors since October 2017. Most recently, Mr. Shum was interim Chief Executive Officer and Chief Financial Officer of Eastside Distilling, a Nasdaq-listed company. Mr. Shum will remain as CFO of Eastside Distilling until filing of their quarterly report on Form 10-Q for the period ending September 30, 2019, which filing is expected on or about November 14, 2019. Mr. Shum's duties as CFO of Eastside will be to assist transition of financial reporting.
Steve Shum commented, "I am extremely pleased to be named Chief Executive Officer of INVO Bioscience. I believe the Company is extremely well-positioned to expand the utilization of our proprietary INVOcell technology throughout the world through strategic partnership agreements in key international markets similar to our U.S. agreement. Further, I believe there is an opportunity to expand upon our success with INVOcell through adjacent technologies that can leverage our position in the market as a leader in fertility and women's health. I thank Katie for creating a tremendous foundation from which to build upon and am excited to lead the Company into the future. I also appreciate her willingness to remain actively involved until her planned retirement."
About INVO Bioscience®
We are a medical device company focused on creating simplified, lower cost treatments for patients diagnosed with infertility. Our solution, the INVO® Procedure, is a revolutionary in vivo method of vaginal incubation that offers patients a more natural and intimate experience. Our lead product, the INVOcell®, is a patented medical device used in infertility treatment and is considered an Assisted Reproductive Technology (ART). The INVOcell is the first Intravaginal Culture (IVC) system in the world used for the natural in vivo incubation of eggs and sperm during fertilization and early embryo development, as an alternative to traditional In Vitro Fertilization (IVF) and Intrauterine Insemination (IUI). Our mission is to increase access to care and expand fertility treatment across the globe with a goal to lower the cost of care and increase availability of care. For more information, please visit http://invobioscience.com/
About Infertility
Infertility is "the inability to conceive after 12 months." This means that a couple is not able to become pregnant after a year of trying. However, for women aged 35 and older, inability to conceive after 6 months is generally considered infertility. According to fertilitycenter.com the ability to achieve a successful pregnancy declines with age:
Fertility declines in men after age 50.
Fertility declines in women after age 30.
Before age 25, 4% of women have difficulty achieving a successful pregnancy.
For women between 26 to 34 years, 13% have difficulty having a baby.
For women between 35 to 39 years, 25% have difficulty conceiving.
By age 40, 34% of women attempting pregnancy will have difficulty achieving pregnancy.
About 10 percent of women (6.1 million) in the United States ages 15-44 have difficulty getting pregnant or staying pregnant, according to the Centers for Disease Control and Prevention (CDC).
According to Allied Market Research, the Global Fertility Services Market was valued at $16.8 billion in 2016, and is estimated to reach at $30 billion by 2023, registering a CAGR of 9.3% from 2017 to 2023. Fertility services involve different procedures utilized to treat genetic and fertility issues and assist with conception. These services include different assisted reproductive technology (ART) methods, helping couples or single parents around the world.
Safe Harbor Statement
This release includes 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 Company invokes the protections of the Private Securities Litigation Reform Act of 1995. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategies, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our filings at www.sec.gov. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact:
INVO Bioscience
Steve Shum, CEO
978-878-9505
steveshum@invobioscience.com
Investors
Lytham Partners, LLC
Robert Blum
602-889-9700
IVOB@lythampartners.com
SOURCE INVO Bioscience, Inc.
Related Links
http://invobioscience.com
New Presentation:
https://invobioscience.com/wp-content/uploads/2019/08/INVO-Corp-Presentation-August-2019-FINAL.pdf
Lots of potential here. The method is still relatively unknown!
INVO Bioscience Reports Record Second Quarter 2019 Financial Results with Revenue Increasing 498%
SARASOTA, Fla., August 14, 2019 -- INVO Bioscience, Inc. (OTCQB: IVOB), a medical device company which was granted FDA clearance for its Intravaginal Culture System, INVOcell®, today announced financial results for the second quarter of 2019, ended June 30, 2019.
Q2 2019 Financial Results and Recent Highlights:
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Revenue for the quarter totaled $658,638 compared to $110,210 in the second quarter of 2018, an increase of 498%. Revenue growth was driven primarily by increased product sales in the U.S. as shipments to Ferring were above expectations outlined in May 2019 as they began to increase their marketing activities.
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Sequentially, revenue increased approximately 248% for the second quarter compared to $189,432 in the first quarter of 2019.
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Gross margins for the quarter improved to approximately 92% compared to approximately 85% in the second quarter of 2018.
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Improved net loss to $(241,552) during the second quarter compared to $(458,570) during the first quarter of 2019.
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Company ended the quarter in a strong cash position of approximately $2.7 million.
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Announced the appointment of Pressly Ahammed as the Company’s new Director of International Business Development. Ahammed, together with Chief Operating Officer, Michael Campbell, have advanced business development efforts outside the U.S., including India, China, Latin America and the European Union.
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On January 14, 2019 the Company closed an exclusive U.S. licensing agreement with Ferring International Center S.A. the parent Company of Ferring Pharmaceuticals U.S. to commercialize the INVOcell™ system for use in the treatment of infertility. As part of the U.S. licensing agreement the Company received a $5 million one-time milestone payment, with the ability to receive an additional $3 million upon obtaining a label enhancement from the U.S. Food and Drug Administration.
Management Discussion
Katie Karloff, Chair and Chief Executive Officer of INVO Bioscience, commented, "We are extremely pleased that our second quarter revenues were significantly higher both year-over-year – approximately 498% and sequentially – approximately 248%. Ferring, as our U.S commercialization partner, is exceeding our expectations as they begin to increase both the number of clinics offering the INVOcell and awareness of its attributes. During the quarter we shipped nearly $500,000 in product to them, putting them well above their prorated annual minimum requirements. We are confident in Ferring’s capabilities to expand adoption of the INVOcell procedure and look forward to their continued efforts to grow market share in the years to come.”
Karloff continued, “We are seeing interest from a number of international reproductive specialists to add the INVOcell technology into their respective practices in markets ranging from India, China, Latin America and the European Union. Our business development team is engaging with potential partners who have strong capabilities in these various markets and are staying diligent in our efforts to align ourselves with the best partners that can help bring INVOcell to the millions of couples around the world for which we believe it is an ideal solution to their fertility needs. Domestically, beyond Ferring’s efforts, we are making consistent progress with a number of key opinion leaders in the reproductive industry to establish INVOcell centers throughout the United States with a goal to have multiple centers up and running in 2020.”
“As industry research continues to indicate, the need for affordable and effective reproductive services are highly sought after, both in the U.S. and around the world. We believe INVOcell has an important role to play in this large and expanding global market. We have made tremendous progress over the last twelve months, particularly in the U.S. through our agreement with Ferring, and look to further advance INVOcell’s adoption throughout the rest of the world in the future,” Karloff concluded.
Financial Results
Revenue for the three months ended June 30, 2019, was $658,638 compared to $110,210 for the same three-month period in 2018, an increase of $548,428 or approximately 498%. The increase was primarily the result of increased product sales as Ferring began to increase their marketing activities as well as from recognizing 3.6% of the Ferring seven-year U.S. exclusive licensing & distribution fee.
Gross margin reported for the second quarter ended June 30, 2019 was approximately 92% or $603,356 compared to 85% or $93,500 for the three months ended June 30, 2018. The increase in gross margin was related to the 2019 licensing fee that did not have any cost of sales expenses associated with it. The cost of sales recognized during the second quarter of 2019 were attributed to product shipments to Ferring.
Selling, general and administrative expenses for the three months ended June 30, 2019 were $669,152 as compared to $1,883,946 for the three months ended June 30, 2018, a decrease of $1,214,794 or approximately 64%.
During the three-month period ended June 30, 2019 we incurred $175,756 in interest expense compared to $74,682 in the three-month period ended June 30, 2018. The primary reason for the increase in 2019 was the amortization of discount on the 2018 Convertible Notes Payable in the amount of $163,466 as compared to $56,446 during the same period of 2018.
Net loss of $241,552, or $(0.00) per basic and diluted share for the three months ended June 30, 2019 compared to a net loss of $1,865,128, or $(0.01) per basic and diluted share for the three months ended June 30, 2018.
INVO BIOSCIENCE ANNOUNCES RECENT APPOINTMENT OF PRESSLY AHAMMED AS DIRECTOR OF INTERNATIONAL BUSINESS DEVELOPMENT
SARASOTA, Fla., June 19, 2019 — INVO Bioscience, Inc. (OTCQB: IVOB), a medical device company which was granted FDA clearance for the first Intravaginal Culture System, INVOcell®, announced the recent appointment of Pressly Ahammed as INVO Bioscience’s new Director of International Business Development. Ahammed will be responsible for developing the Company’s international distribution channels in Europe, the Middle East, Africa and parts of Asia, and will report to Michael Campbell, chief operating officer of INVO Bioscience.
With a career in excess of 11 years, Pressly Ahammed has worked in numerous segments of the international healthcare sector including hospitals; wholesale and retail sectors; and distribution. Ahammed joins INVO Bioscience from Cooper Surgical, where he held a similar title focused on women’s healthcare business development in Eastern Europe, the Middle East, Africa, and South and Central Asia.
On a worldwide basis, there are approximately 150 million infertile couples. Approximately 1.5 million IVF cycles are performed annually corresponding to approximately 1% of the infertile couples worldwide. Including IUI (another 1% worldwide), this represents an approximate $6.6 billion worldwide market. With nearly 98% of the infertile couples going untreated, it results in an estimated unmet market opportunity of hundreds of billions of dollars.
Katie Karloff, Chief Executive Officer of INVO Bioscience, said, “We are pleased to have a highly experienced and respected international sales executive the caliber of Pressly Ahammed join the INVO Bioscience team. Throughout the world, there is a tremendous unmet market opportunity as the existing fertility options, including IVF and IUI, are either too expensive or provide low effective pregnancy rates. We continue to see strong interest in our INVOcell device in key markets outside the U.S. The INVOcell procedure helps bridge the gap between cost and effectiveness which should resonate extremely well throughout many parts of the world. With Pressly’s experience operating effectively in a number of important international markets, we believe he can help to accelerate our international efforts to partner our INVOcell technology.”
In January 2019, INVO Bioscience and Ferring Pharmaceuticals entered an exclusive U.S. commercialization agreement for INVOcell. The agreement allows for INVO Bioscience to enter separate agreements for the INVOcell in non-U.S. markets.
Ahammed commented, “I am pleased to join INVO Bioscience at this important time in the Company’s history. I intend to leverage my international experience in positioning the INVOcell technology as a powerful new option providing hope for millions of couples struggling with infertility to realize their dreams of starting a new family. We have an innovative and cost-effective process that will benefit many in the international markets. I am excited with the opportunities ahead.”
Actually he’ll stop when Bob Bowdring takes his cock out of his ass
When is Dr. Fraud Ranoux going to stop dumping his 24mil shares keeping the stick price down for many years. That greedy frog
News: $IVOB INVO Bioscience to Participate in the 35th Annual Meeting of the European Society of Human Reproduction and Embryology
SARASOTA, Fla. , June 5, 2019 /PRNewswire/ -- INVO Bioscience, Inc. ® (OTCQB: IVOB), a medical device company which was granted FDA clearance for the first Intravaginal Culture System, INVOcell ® , today announced it will participate at the 35th Annual Meeting of the European...
Got this from https://marketwirenews.com/news-releases/invo-bioscience-to-participate-in-the-35th-annual-meeting-of-the-european-society-of-human-reproduction-and-embryology-8303510.html
INVO BIOSCIENCE REPORTS RECORD FOURTH QUARTER AND YEAR END 2018 FINANCIAL RESULTS
MEDFORD, Mass., April 16, 2019 /PRNewswire/ — INVO Bioscience, Inc. (OTCQB: IVOB), a medical device company which was granted FDA clearance for the first Intravaginal Culture System, INVOcell™, today announced its fourth quarter and year end financial results for the periods ended December 31, 2018 as well as recent highlights.
Financial Results and Recent Highlights:
Revenue for Q4 2018 increased 90.5% at $154,990, compared to $81,355 for the same period a year ago;
Revenue for 2018 increased 75.2% at $494,375, compared to $282,145 for YE 2017;
Closed exclusive U.S. licensing agreement with Ferring International Center S.A. the parent Company of Ferring Pharmaceuticals U.S. to commercialize the novel INVOcell™ system for use in the treatment of infertility. Agreement closed on January 14, 2019;
Company received a $5 million one-time milestone payment subsequent to the end of the quarter and year end, with the ability to receive another $3 million upon obtaining label enhancement;
In January 2019, the Company appointed Michael J. Campbell as COO & VP of Business Development, joining the Company from most recently as VP of IVF Americas for Cooper Surgical Inc. (CSI), a wholly owned subsidiary of The Cooper Companies (NYSE: COO) – Campbell will head up the INVO’s planned commercialization efforts internationally, as well as oversee the launch of the INVO clinic strategy in the United States;
In March 2019, INVO announced the launch its first Company-owned embryology center in the Bay Area of California.
Management Discussion
Katie Karloff, Chair and Chief Executive Officer of INVO Bioscience, commented, “I am extremely pleased with the progress made over the last year to accelerate the adoption of the revolutionary INVOcell device and procedure. We started the year by rapidly increasing adoption rates of the device, which culminated in 91% sales growth in the fourth quarter, and concluded it by entering into an exclusive U.S. licensing agreement with one of the world’s leading fertility companies, Ferring Pharmaceuticals, which we believe will only accelerate our revenue growth into the future. With the licensing agreement in place and U.S. commercialization well taken care of, it has allowed us to focus our efforts on other value-creating opportunities: expanding our commercialization efforts internationally and building out our clinic model in the United States.”
Ms. Karloff continued, “To head up international efforts, in February 2019, we announced the appointment of Michael Campbell as our COO and Vice President of Business Development. Mike was most recently the Vice President of IVF Americas Business Unit for Cooper Surgical. Mike has a strong background in the fertility market and has significant knowledge of and relationships with companies and distributors that operate internationally. Over the last couple of months, we are actively speaking with potential commercialization partners in Europe, the Middle East and Africa, India, China, and the Latin American markets. I look forward to advancing these discussions as we look to develop a commercial model that will successfully drive adoption of INVOcell outside the U.S.
“Additionally, we are actively deploying our clinic model in the U.S. In March, we announced our first Company-owned embryology center to be opening in the Bay Area of California. This first center is one we will look to replicate in other parts of the country allowing us to capture a larger share of the overall procedure opportunity, which substantially increases our addressable market opportunity.
“Having received $5 million in up front milestone payments, we now have the balance sheet and resources to pursue two key opportunities that we believe will build substantial long-term value in INVO Bioscience. I believe 2019 will be an exciting year for our company and thank our shareholders for their commitment over the last number of years,” Ms. Karloff concluded.
Terms of U.S. Distribution Agreement
Under the terms of the license and supply agreement, INVO Bioscience received an upfront cash payment, is eligible to receive a second additional milestone payment based upon the successful completion of the INVOcell product label enhancement and will receive payment for the supply of each INVOcell device. Additionally, Ferring is obligated, subject to certain conditions, to achieve defined minimum revenue targets over the next seven years. INVO Bioscience will be responsible for manufacturing and supplying INVOcell to Ferring for commercial sales and to obtain a five (5) day label enhancement from the FDA for the current incubation period for the product. INVO Bioscience also retains certain limited rights to establish INVO clinics that exclusively commercialize INVO cycles and will retain commercialization rights outside the U.S.
Further terms of the agreement can be found in an 8-K filed by INVO Bioscience on January 17, 2019 with the SEC and in our 10-K. Please click here to access the report.
2018 Financial Results
Net sales and revenues for year ended December 31, 2018 were $494,375 compared to $282,145 for the same year ended December 31, 2017; an increase of 75.2%.
Cost of goods sold for the year ended December 31, 2018 were $90,367 or approximately 18% of revenues compared to $51,954 or approximately 18% of revenues for the year ended December 31, 2017.
Selling, general and administrative (SG&A) expenses for the year ended December 31, 2018 were $3,038,068 as compared to $870,612 for the year ended December 31, 2017. Included in SG&A during 2018 was $1.5 million of non-cash common stock compensation in consideration for services performed both pre and post FDA clearance for clinical guidance and support by our Medical Director.
Adjusted EBITDA, which is a non-GAAP measure of operating performance, was $(424,723) during the year ended December 31, 2018, compared to $(408,382) for year ended December 31, 2017. Net loss for the year ended December 31, 2018 was $(3,062,195), or $(0.02) per share, compared with $(702,163), or $(0.00) per share for year ended December 31, 2017.
The Company ended the quarter with $212,243 in cash and equivalents. As disclosed, in connection with the signing of the U.S. distribution agreement in January 2019, the company received a $5 million one-time milestone payment to execute its business plan.
Additional details pertaining to the annual financials can be found in our 10-K filed today with the SEC.
Use of Non-GAAP Measure
Adjusted EBITDA is presented herein and is a non-GAAP measure. However, this measure is not intended to be a substitute for those financial measures reported in accordance with GAAP. Adjusted EBITDA has been included because management believes that, when considered together with the GAAP figures, it provides meaningful information related to our operating performance and liquidity and can enhance an overall understanding of financial results and trends. See our attached financials for a reconciliation of this non-GAAP measure to the most comparable GAAP measure.
INVO BIOSCIENCE LAUNCHES EMBRYOLOGY CENTER IN THE BAY AREA TO SUPPORT DEDICATED INVOCELL CLINIC BEING DEVELOPED BY DR. AIMEE, THE “EGG WHISPERER”
MEDFORD, Mass. and SAN FRANCISCO, March 12, 2019 /PRNewswire/ — INVO Bioscience, Inc. (OTC: IVOB), developers of the INVOcell intravaginal culture (IVC) system, today announced the launch of its first Company-owned embryology center in the Bay Area of California. The embryology center will act as the dedicated lab for famed fertility expert, Dr. Aimee D. Eyvazzadeh, MD, MPH, commonly known as the “Egg Whisperer,” who will be opening a brand-new fertility treatment center dedicated to offering the INVOcell solution. The centers, based in the San Francisco Bay area of California, are expected to be open in June 2019.
Dr. Aimee’s new center will be offering INVOcell, a novel fertility treatment that uses a woman’s own body for the incubation of eggs and sperm during fertilization and early embryo development. INVOcell, the world’s first intravaginal culture (IVC) device, is a small polystyrene capsule used for egg fertilization and embryo development using vaginal incubation. In clinical studies supporting the FDA clearance, INVOcell has shown results comparable to traditional assisted reproductive techniques.
Dr. Aimee is one of America’s most well-known fertility doctors. Her success rate at baby-making is what gives future parents hope when all hope is lost, having had a hand in creating thousands of happy and healthy babies. Dr. Aimee is a Harvard-educated, board certified OBGYN, specializing in Reproductive Endocrinology and Infertility. She has been featured in magazines such as People and Marie Claire, and has been featured on the Today Show, Good Morning America, CBS Morning, Fox Network, along with a number of local and international newscasts. You can catch her Egg Whisperer Show every Wednesday at eggwhisperer.com/show.
The unique agreement between INVO Bioscience and Dr. Aimee was driven by a joint desire to help patients obtain access to the revolutionary INVOcell solution. As the first significant new product to address fertility in more than 30 years, INVOcell does so with a number of important advantages to patients, including being less expensive than traditional IVF with equivalent pregnancy rates, and offering a more natural conception process.
Dr. Aimee D. Eyvazzadeh, MD, MPH, commented, “Improving pregnancy rates and access to fertility care is always a priority for me. The most commonly asked question people ask me is, How fast can I get pregnant? The IUI path to pregnancy is often frustrating, costly, and takes several attempts. Whereas, the INVOcell pregnancy rate is 5x higher than IUI with a price point far lower than IVF. It’s very exciting to be able to help patients in a minimally invasive way, without having the potential for unused embryos, and at a lower cost and higher success rate.”
“I’ve been following this company for many years and am thrilled to be selected as the first INVO-only center. I’m hoping this will inspire other fertility doctors to offer INVOcell treatment as another path to help patients achieve their dreams of parenthood,” Dr. Aimee concluded.
Dr. Aimee will gently guide patients through all aspects of the procedure including egg retrieval and transfer. INVO Bioscience will own and operate a fully functioning embryology center adjacent to Dr. Aimee’s facility. INVO Bioscience will employ an embryology staff who will manage sperm preparation and all aspects of loading and unloading the INVOcell and evaluation of the best embryo(s) to transfer. The unique combination allows Dr. Aimee to significantly ramp up her INVOcell center in a cost-efficient format, without modifying her current workflow procedures.
Katie Karloff, CEO of INVO Bioscience, commented, “We are excited to be launching this new venture with Dr. Aimee as our first such collaboration and one we will seek to replicate in other parts of the country. It also marks a major new milestone for INVO Bioscience by allowing us to participate in a more substantial way in this large market opportunity. Both Dr. Aimee and INVO Bioscience have had mutual enthusiasm to open a clinic in the area that would be dedicated to offering the INVOcell solution. This enthusiasm, and mutual desire to make fertility treatment more accessible to the thousands of patients who can not afford effective fertility treatment, lead us to create this unique structure that we believe can be replicated around the country. We look forward to the launch of this new INVOcell center in the Bay Area and working with Reproductive Endocrinologists around the country to bring this exciting and unique operating structure to their markets.”
been buying it here and there..dont own a lot but waiting for next earnings..or deals with ferring to explode.
Big things brewing here! I've been absent since this place (IHUB) is riddled with snakes. I just use the Yahoo boards now. On there as ennoiD.
Cheers Longs!
INVO BIOSCIENCE APPOINTS MICHAEL J. CAMPBELL AS COO & VP OF BUSINESS DEVELOPMENT
MEDFORD, Mass., Feb. 4, 2019 /PRNewswire/ — INVO Bioscience, Inc. (OTC: IVOB), developers of the INVOcell intravaginal culture (IVC) system, today announced the appointment of Michael J. Campbell as its COO & VP of Business Development. Campbell was most recently Vice President of IVF Americas Business Unit for Cooper Surgical, Inc. (CSI), a wholly owned subsidiary of The Cooper Companies (NYSE: COO), and a member of the INVO Bioscience board of directors since October 2017. Campbell is set to head the Company’s planned commercialization efforts internationally, as well as oversee the launch of the INVO clinic strategy in the United States.
The move to focus expansion on international commercialization follows INVO Biosciences recent agreement with Ferring Pharmaceuticals. Under the agreement, Ferring will be responsible for all U.S. commercial activities for INVOcell. INVO Bioscience will be responsible for manufacturing and supplying the INVOcell devices to Ferring for commercial sales as well as performing a clinical study for label enhancement. INVO Bioscience also retained certain limited rights to establish INVO clinics that exclusively commercialize INVO cycles and will retain commercialization rights outside the U.S.
INVOcell is a novel fertility treatment that uses a woman’s own body as a natural incubator for the incubation of eggs and sperm during fertilization and early embryo development. In 2015, INVOcell received US Food & Drug Administration clearance. INVOcell is the first intravaginal culture (IVC) device and is a small polystyrene capsule used for egg fertilization and embryo development using vaginal incubation. In clinical studies supporting the FDA clearance, INVOcell has shown results comparable to traditional assisted reproductive techniques.
“I am excited to be joining INVO Bioscience to further develop the commercialization opportunities for the revolutionary INVOcell solution,” said Michael Campbell, INVO Biosciences newly appointed COO & VP of Business Development. “As a board member for the last year, I have seen first hand the excitement that has surrounded the significant expansion of the INVOcell procedure in the U.S., and I believe this expansion will continue throughout the rest of the world. I look forward to helping the millions of infertile couples around the world that will benefit from the many advantages the INVOcell will provide.”
Katie Karloff, CEO of INVO Bioscience, commented, “We are thrilled that Mike has decided to join INVO Bioscience as our newly appointed COO & VP of Business Development. Mike has a strong background in the fertility market, and has significant knowledge of and relationships with companies and distributors that operate internationally. I look forward to being able to further leverage his substantial experience in sales, marketing and business development as we work to achieve the high expectations we all have for the future of the company.”
Michael J. Campbell was most recently the Vice President of IVF Americas Business Unit for Cooper Surgical, Inc. (CSI), a wholly owned subsidiary of The Cooper Companies (NYSE: COO), and is also a member of the board of directors for INVO Bioscience. Mr. Campbell has substantial medical device sales, marketing and business development leadership experience within Global Fortune 500 and Start-up Company environments. During his over 12-year career at Cooper Surgical, Mike has been responsible for IVF product portfolio sales globally including the US, Canada, Latin America, Europe, Middle East, Africa, and Asia Pacific regions. In addition to Mr. Campbell’s current position as Vice President of IVF Americas Business Unit, he served in various leadership roles including Vice President of International Business Unit from 2013-2014 and as Vice President of IVF Business Unit from 2006 to 2012. Prior to joining Cooper Surgical, Mike was Vice President of Sales, Marketing and Business Development at Retroactive Bioscience from 1997 to 2006 and Vice President of Sales and Marketing for Gabriel Medical from 1994 to 1997. Mr. Campbell also served in various senior management positions across marketing, sales and product management at Boston Scientific Corporation beginning in 1984 through 1994.
INVO Bioscience Closes Exclusive U.S. Licensing Agreement with Ferring Pharmaceuticals to Commercialize the Novel INVOcell™ System
$5.0 million up front plus $3.0 million in additional milestone payments
? Receive payment for the supply of each INVOcell device.
? Defined minimum revenue targets over the next seven (7) years.
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INVO Bioscience Product InformationINVO Bioscience's INVOcell will revolutionize the treatment of infertility. The INVOcell, pictured below, replaces the IVF laboratory and allows conception to take place naturally inside the woman's body. INVO Bioscience's INVOcell device and the INVO process will be much less expensive than traditional IVF and is comparable in pregnancy rate. Also, the INVO procedure is simple so it will be available in physician's offices. The INVOcell Device The INVOcell device and procedure were developed by Dr. Claude Ranoux. Over 800 clinical cases using prototype devices have been published in the medical literature. The INVOcell is a precisely designed and manufactured device. The INVOcell is manufactured in the U.S. by a company that is ISO-13485 certified. INVO Bioscience has 5 current patents on the INVOcell device and procedure.“This technology represents an exciting and important new treatment option for infertility.” Dr. Leo Bonaventura, INVOcell Clinical Investigator and member of INVO Bioscience's Board of Advisors, |
Chat forum for woman who were in the Trials! Lots of great feedback! |
11/03/2015 - Pr Newswire | |
The Economist-Oct 25, 2014 IT IS not quite do-it-yourself IVF, but it is close. An INVOcell, brainchild of Claude Ranoux of INVO Bioscience, in Medford, Massachusetts, is a device that allows ... | |
The 'champagne cork' mini incubator that could halve cost of IVFDaily Mail-Oct 22, 2014 In a pilot study, women treated using the INVOcell device were just as likely to ... INVO Bioscience hopes to have the device on sale in the US by the end of this ... | |
Mini 'body incubator' may halve cost of IVFIndependent Online-Nov 4, 2014 In a pilot study of 33 infertile women, those treated using the INVOcell ... INVO Bioscience hopes to have the device on sale in the US by the end of this year. | |
The INVO procedure has been published in The Scientific World Journal! INVO Procedure: Minimally Invasive IVF as an Alternative Treatment Option for Infertile Couples Click Here for Active Stock Bid Information IR@INVOBio.com |
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