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Innovus Pharma Announces the Complete Repayment in Cash of its Financial Obligations from its Acquisition of its Beyond Human® Assets
Payoff in Cash of Outstanding Secured Promissory Note with SBI Investments, LLC also Releases Lien on Company’s Beyond Human® Assets and the Related Revenues
February 22, 2018 06:00 AM Eastern Standard Time
SAN DIEGO--(BUSINESS WIRE)--Innovus Pharmaceuticals, Inc. ("Innovus Pharma" or the “Company”) (OTCQB Venture Market: INNV), an emerging commercial-stage pharmaceutical company that delivers safe, innovative and effective over-the-counter medicine and consumer care products to improve men’s and women’s health and respiratory diseases, today announced that it has completed the repayment in cash of the principal amount of $550,000 under the 20% Secured Promissory Note, dated February 19, 2016 (the “Note”) with SBI Investments, LLC (“SBI”), the financial lender who financed the Company’s purchase of its Beyond Human® Sales and Marketing Platform and the nine products (the “Beyond Human® Products”) that it purchased from Beyond Human, LLC in March 2016. Pursuant to its payoff of the Note, SBI has released its security interest in the Beyond Human® assets and the revenues generated from those assets.
“We are very proud to announce that we have repaid in cash all of the amount we were loaned pursuant to the Note for the Beyond Human® product portfolio and assets,” stated Dr. Bassam Damaj, President and Chief Executive Officer of Innovus Pharma. “The repayment of the Note in full represents a milestone for the Company in that pursuant to this pay-off, the security interest in the Beyond Human® Products and Sales & Marketing Platform has now been released and all of the Company’s products and assets are free of any such interests whatsoever,” he continued.
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharma is an emerging OTC consumer goods and specialty pharmaceutical company engaged in the commercialization, licensing and development of safe and effective non-prescription medicine and consumer care products to improve men’s and women’s health and vitality and respiratory diseases. Innovus Pharma delivers innovative and uniquely presented and packaged health solutions through its (a) OTC medicines and consumer and health products, which we market directly, (b) commercial partners to primary care physicians, urologists, gynecologists and therapists, and (c) directly to consumers through our on-line channels, retailers and wholesalers. The Company is dedicated to be a leader in developing and marketing new OTC and branded Abbreviated New Drug Application (“ANDA”) products, men’s and women’s health supplements, related diagnostics and medical devices. The Company is actively pursuing opportunities where existing prescription drugs have recently, or are expected to, change from prescription (or Rx) to OTC, as well as related products.
For more information, go to www.innovuspharma.com; www.zestra.com; www.ejectdelay.com; www.vesele.com; www.urivarx.com; www.sensumplus.com; www.myandroferti.com; www.beyondhumantestosterone.com; www.getbeyondhuman.com; www.trybeyondhuman.com; www.recalmax.com; www.prostagorx.com; www.fluticare.com; www.allervarx.com; and www.apeaz.com.
Innovus Pharma's Forward-Looking Safe Harbor:
Statements under the Private Securities Litigation Reform Act, as amended: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, projected revenues from the sale of its Beyond Human® products, estimated market for its products, and statements about achieving its other development, growth, commercialization, financial and staffing objectives. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent filing on Form S-1, annual report on Form 10-K, subsequent quarterly reports filed on Form 10-Q and other filings made with the SEC. Copies of these reports are available from the SEC's website or without charge from the Company.
Contacts
Innovus Pharmaceuticals, Inc.
Randy Berholtz
Investor Relations
858-249-7865
ir@innovuspharma.com
https://www.businesswire.com/news/home/20180222005530/en/Innovus-Pharma-Announces-Complete-Repayment-Cash-Financial
Well someone feels confident enough to keep buying I guess
Anyone know when they will report earnings?
I really want to know what's going on. I trust every word you guys report back and over the years but I don't see the follow through. Regardless of my position and what I do with it, I'm interested in this technology. I think they can do great things. I don't understand the hold up.
...or sell lower later or higher, who knows
A month or two is random speculation. I don't blame the sellers.
hopefully
SeeThruEquity Issues Update on Innovus Pharmaceuticals (INNV) with Target Price of $0.70
NEW YORK, NY / ACCESSWIRE / February 13, 2018 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has issued an update on Innovus Pharmaceuticals, Inc. with a target price of $0.70.
The report is available here: February 2018 Update Note.
Innovus Pharmaceuticals, Inc. (OTCQB: INNV, "Innovus") is a fast-growing commercial-stage pharmaceutical company that delivers safe, innovative and effective over-the-counter (OTC) medicine and consumer care products to improve men and women's health, respiratory disease and vitality. Led by CEO Dr. Bassam Damaj, Innovus is based in San Diego, CA and has demonstrated robust growth in its product offerings and annual revenues since we initiated coverage on the company in September 2014, with revenues growing from approximately $1.0mn in 2014 to $4.8mn in 2016 and an estimated $10.3mn in revenues in 2017.
Innovus has announced several material updates to its commercial strategy and clinical progress since our last update on the company in November 2017, which increase our confidence that the company can continue to grow aggressively in 2018. Highlights include:
Positive data published on UriVarx®. INNV announced significant positive results from a clinical study of 150 patients receiving UriVarx®, which showed notable reductions in urinary frequency during the day and overnight versus a control group, with no significant side effects.
Expanded online distribution with launch of Amazon, Ebay, Sears, Wish, and Walmart online stores. Innovus announced that it has expanded online sales channels, which already represent a significant portion of sales, with the addition of online stores on the Walmart, Amazon, Ebay, Sears, and Wish platforms. INNV's presence on these platforms now includes 116 SKUs, and management indicated that it has already seen a significant increase in month over month sales.
Regulatory approval for two new OTC products in Canada. Innovus received approval from Health Canada to market two of its US products as over-the-counter products in Canada. These include Apeaz™ for arthritis and joint pain, already a core INNV product in the US, and lidocaine-based cream Xyralid™ for relief from pain and symptoms caused by hemorrhoids.
New products to include Can-C™ and Melatonin (MZS™). Innovus continues to expand its OTC product portfolio, which should help support growth in 2018. The company announced that it had secured worldwide rights to sell Can-C™ eye drops for cataract eye sensitivity and Melatonin (MZS™) from Antiaging Systems, Ltd. The products already have a significant online presence, with Can-C alone generating over $1mn in sales on Amazon in 2017.
Price target of $0.70 for Innovus
Our price target increases to $0.70 from $0.65, which, if achieved, represents substantial upside potential from the recent price of $0.15. The main driver of our thesis is our expectations for dramatic growth as a result of the expanding portfolio of products sold by Innovus, which should only accelerate with the launch of a potentially game-changing new product line in FlutiCare™. We estimate 2017E and 2018E revenues of $10.3mn and $20.8mn, respectively, and would look to re-calculate our price target following full-year results and company guidance for 2018.
Please review important disclosures at www.seethruequity.com.
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharma is an emerging OTC consumer goods and specialty pharmaceutical company engaged in the commercialization, licensing and development of safe and effective non-prescription medicine and consumer care products to improve men's and women's health and vitality and respiratory diseases. Innovus Pharma delivers innovative and uniquely presented and packaged health solutions through its (a) OTC medicines and consumer and health products, which we market directly, (b) commercial partners to primary care physicians, urologists, gynecologists and therapists, and (c) directly to consumers through our on-line channels, retailers and wholesalers. The Company is dedicated to becoming a leader in developing and marketing new OTC and branded Abbreviated New Drug Application ("ANDA") products, men's and women's health supplements, related diagnostics and medical devices. The Company is actively pursuing opportunities where existing prescription drugs have recently, or are expected to, change from prescription (or Rx) to OTC, as well as related products. Innovuspharma.com
About SeeThruEquity
Since its founding in 2011, SeeThruEquity has been committed to its core mission: providing impactful, high quality research on underfollowed smallcap and microcap equities. SeeThruEquity has pioneered an innovative business model for equity research that is not paid for and is unbiased. SeeThruEquity is the host of acclaimed investor conferences that are the ultimate event for publicly traded companies with market capitalizations less than $1 billion.
SeeThruEquity is approved to contribute its research reports and estimates to Thomson One Analytics (First Call), the leading estimates platform on Wall Street, as well as Capital IQ and FactSet. SeeThruEquity maintains one of the industry's most extensive databases of opt-in institutional and high net worth investors. The firm is headquartered in Midtown Manhattan in New York City.
For more information visit www.seethruequity.com.
Contact:
SeeThruEquity
info@seethruequity.com
SOURCE: SeeThruEquity
Source: ACCESSWIRE Investor Awareness (February 13, 2018 - 9:00 AM EST)
News by QuoteMedia
www.quotemedia.com
sounds good to me
There are penny stocks moving everyday. How long you expect someone to hold? I'm stubborn enough to hold forever but I think most will give you a day or two.
$INNV 0.166 the people like Walmart and Amazon... maybe .20 by eod
$INNV .153 now
$INNV liking the news and this trend
Recovered right after your post, but I wonder how long this will hold without more updates
Wow looking good here today
$CEOS anyone know what's happening besides the new website. That's a lot of shares traded today.
$CEOS this thing is about to explode
Innovus Pharma Announces U.S. Food and Drug Administration Clearance of Its UriVarx® Urinary Tract Infection Test Strips
Jan 11, 2018
OTC Disclosure & News Service
-
Innovus Pharmaceuticals, Inc. ("Innovus Pharma" or the “Company”) (OTCQB Venture Market: INNV), an emerging commercial-stage pharmaceutical company that delivers safe, innovative and effective over-the-counter medicine and consumer care products to improve men’s and women's health and respiratory diseases, today announced that the U.S. Food and Drug Administration (“FDA”) has cleared its UriVarx® Urinary Tract Infection (“UTI”) test strips under the 510(k) filing of its manufacturing partner, ACON Laboratories, Inc. (“ACON”). Innovus Pharma will offer the recently cleared UriVarx® UTI test strips, which provide results in 2-minutes, to its customers who buy its UriVarx® product. The UTI test strips are complementary to the Company’s UriVarx® supplement currently on the market and clinically tested in patients with overactive bladder (“OAB”) and urinary incontinence (“UI”). The UTI test strips will also be offered separately by Innovus Pharma and are manufactured by ACON. Innovus Pharma currently is expected to launch the UTI strips in Q1 2018.
According to WebMD, UTIs are the most common bacterial infections in the United States. According to a study by the National Institutes of Health in 2007 (NIH publication 075512) by Griebling et al., the prevalence of UTI is found to be higher in women. Nearly 20% of UTIs are found in men. Patients with OAB and UI have a higher occurrence of UTI infections and early detection is key in better responses to treatments.
“We are very pleased that ACON has secured the FDA clearance of the UriVarx® UTI test strips,” stated Dr. Bassam Damaj, President and Chief Executive Officer of Innovus Pharma. “We look forward to launching the UriVarx® strips with our UriVarx® clinical supplement for bladder health to enable our customers to be able to use our FDA cleared UTI test strips to monitor ongoing bladder infections from the convenience of their homes. We expect the addition of the UTI strips to increase our clinical supplement sales and the average life cycle of our monthly product subscriptions,” he continued.
The Company recently announced the approval of UriVarx® by Health Canada and the signing of a commercial license agreement with Acerus Pharmaceuticals Corporation in Canada for the product.
About UriVarx® Clinical Supplement
UriVarx® is clinically published to reduce urinary urgency, accidents and both day and night frequency in OAB and UI patients.
UriVarx® has undergone two double blind and comparative trials in both male and female OAB and UI patients. The clinical results include:
Reduction of ~56% in Urge Incontinence;
Reduction of ~66% in Stress Incontinence;
Reduction of ~61% in Urinary Urgency;
Reduction of ~33% in Urinary Frequency meaning the total average urinary frequency was in the normal/ideal range after two months of use; and
Reduction of ~46% in Nocturia.
According to the U.S. National Association for Continence (“NAFC”), OAB is a medical term that describes various symptoms caused by involuntary bladder spasms, including urinary frequency, especially at night, and urgency with or without involuntary leakage. These symptoms may occur without obvious cause or be secondary to certain diseases of the nervous system. The NAFC estimates that nearly 25 million Americans suffer from some form of OAB or incontinence. The condition, with frequency and urgency only, affects men and women of all ages, although most are under age 65.
About the UriVarx® FDA Cleared UTI Test
The UriVarx® UTI test strips are FDA-cleared tests for the detection of leukocytes and nitrites to add in the screening of Urinary Tract Infection for self-testing. The test has undergone clinical trials and the results can be seen in two minutes.
According to a study by Grand View Research (April 2016), the market size for urinalysis tests in 2015 worldwide was $1.37 billion and in North America was $510 million of which UTI testing represented a large percentage of that market.
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharma is an emerging OTC consumer goods and specialty pharmaceutical company engaged in the commercialization, licensing and development of safe and effective non-prescription medicine and consumer care products to improve men’s and women’s health and vitality and respiratory diseases. Innovus Pharma delivers innovative and uniquely presented and packaged health solutions through its (a) OTC medicines and consumer and health products, which we market directly, (b) commercial partners to primary care physicians, urologists, gynecologists and therapists, and (c) directly to consumers through our on-line channels, retailers and wholesalers. The Company is dedicated to be a leader in developing and marketing new OTC and branded Abbreviated New Drug Application (“ANDA”) products, men’s and women’s health supplements, related diagnostics and medical devices. The Company is actively pursuing opportunities where existing prescription drugs have recently, or are expected to, change from prescription (or Rx) to OTC, as well as related products.
For more information, go to www.innovuspharma.com; www.zestra.com; www.ejectdelay.com; www.myvesele.com; www.urivarx.com; www.sensumplus.com; www.myandroferti.com; www.beyondhumantestosterone.com; www.getbeyondhuman.com; www.trybeyondhuman.com; www.recalmax.com; www.prostagorx.com; www.fluticare.com; www.allervarx.com; and www.apeaz.com.
About ACON Laboratories, Inc.
ACON Laboratories Inc. is a privately-owned diagnostics and medical device company, which was founded in 1995, with its headquarters located in San Diego, California. ACON Laboratories, Inc. produces a broad range of medical diagnostic and healthcare products that are sold in over 130 countries worldwide. The company continues to expand its product lines through extensive research and development, with the goal of helping improve the health and well-being of patients around the world. ACON’s manufacturing facility is a US FDA registered manufacturer of rapid diagnostic and healthcare products.
Innovus Pharma's Forward-Looking Safe Harbor:
Statements under the Private Securities Litigation Reform Act, as amended: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, projected revenues from the UriVarx® product and the accompanying UTI test strips in the United States if approved in that country, estimated market for its products, and statements about achieving its other development, growth, commercialization, financial and staffing objectives. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent filing on Form S-1, annual report on Form 10-K, subsequent quarterly reports filed on Form 10-Q and other filings made with the SEC. Copies of these reports are available from the SEC's website or without charge from the Company.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180111005305/en/
Copyright © 2018 Businesswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
stock price is starting to say something different this morning...
$CEOS and we are back!
I knew this was going to happen. I don't think they ever met a deadline that they set. Definitely not during the holidays
I have zero confidence in that. It doesn't matter. As long as they are working. Some updates would be nice.
Thanks, I see why people are excited
I think they said the end of this month so that means February at the earliest
I can't get to the website. Is the address in the ibox correct?
INNOVUS PHARMA (INNV) Shorts Down By 47.9%
https://www.hillcountrytimes.com/2017/12/03/willis-investment-counsel-has-upped-its-bb-innovus-pharma-innv-shorts-down-by-47-9/
I remember people saying we would never get FDA approval
That's still not cheaper than Fluticare and it's a temporary discount
I see Fluticare 30 for 240 sprays and Flonase 19 for 120 sprays. Not sure about your math. Still 4 dollars cheaper. Also, this is a temporary discount.
https://www.amazon.com/FlutiCare-metered-Relief-allergy-allergens/dp/B0771X51Q2/ref=sr_1_1_a_it?ie=UTF8&qid=1511894045&sr=8-1&keywords=fluticare
https://www.amazon.com/Flonase-Allergy-Relief-metered-sprays/dp/B00MXOVBO0/ref=sr_1_3_s_it?s=hpc&ie=UTF8&qid=1511894060&sr=1-3&keywords=flonase&th=1
Also looks like the demand for Fluticare is picking up!
They are out of stock until the 1st
Sounds good
I have time
I know you don't like this but I think INNV is about to make us a lot of money
Looks like someone wants this to stay at .20
would be nice since my average is .035
I think someone knows something