Innovus Pharmaceuticals Inc (OTCMKTS:INNV) has seen a parabolic rise in recent weeks off its $0.05 base the stock has skyrocketed to well over $0.30 a share transforming into one of the top most traded stocks on the entire OTC.
The move on INNV comes on the heels of some huge press coming from the Company including their plans to up-list to the NYSE, their ANDA application with the FDA for their FlutiCare product as well as continued expansion and fast rising revenues.
Innovus Pharmaceuticals Inc (OTCMKTS:INNV) is an emerging leader in OTC and consumer products for men’s and women’s health and vitality. The Company generates revenues from its lead products (a) BTH® Testosterone Booster, (b) BTH® Human Growth Agent, (c) Zestra® for female arousal and (d) EjectDelay® for premature ejaculation and has an additional five marketed products in this space, including (e) Sensum+® for the indication of reduced penile sensitivity, (for sales outside the U.S. only), (f) Zestra Glide®, (g)Vesele® for promoting sexual and cognitive health, (i) Androferti® (in the US and Canada) to support overall male reproductive health and sperm quality, (j) BTH Vision Formula, (k) BTH Blood Sugar, among others and eventually FlutiCare™ OTC for Allergic Rhinitis, if its ANDA is approved by the U.S. FDA.
INNV has established significant distribution channels in the US through Walmart, Target, Walgreen’s Drugstore.com, and many other known retailers. The company’s largest target market is allergic and non-allergic rhinitis – better known as “hay fever” or “stuffy nose” by the general public. The company’s FlutiCare™ active is the #1 nasal steroid prescribed by physicians and used by patients. After dispensing more than 177 million units since 2007, Innovus is seeking to secure an Abbreviated New Drug Application from the FDA to launch an over-the-counter option for those seeking relief from rhinitis symptoms. According to a report by Fierce Pharma, GSK’s Flonase OTC sold over $100,000M in a short period of time from its launch confirming the size of the market and the potential of FlutiCare™ if approved.
Female sexual dysfunction is the second market. The condition affects approximately 43% of women, compared to just 31% of men reporting similar difficulties. Whereas erectile dysfunction has become a $6 billion market, INNV’s Zestra® is the only clinically proven, commercially sold consumer care product with statistical significance in addressing these issues for women. The company has sold more than 12.5 million doses sold to date.
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As of early 2016, the company signed a total of ten commercial partnership deals with over $500 million in potential sales milestones plus royalties in 60 countries. The company already has significant distribution in the United States through Walmart, Target, Walgreen’s Drugstore.com, and numerous other retailers, but these new distribution agreements will help expand international sales and develop a key pathway for future revenue growth.
The company also acquired Beyond Human assets in March of 2016, which had revenues of $1.3 million in 2013 and $2.2 million in 2014. With the new acquisition under its belt, the company adds a natural Testosterone booster and a natural Human Growth Agent to its product portfolio. The acquisition should also be accretive over the near-term since the private company generated some $400,000 in net profits in 2015 – up from $300,000 the year prior.
On May 20 INNV announced a shareholder update for First Quarter 2016. CEO Dr. Damaj said “Innovus is a Company with multiple areas of expansion, progress and growth. As a result of our FlutiCare™ ANDA under review by the FDA, our increasing revenues, our continuous product acquisition, our entry into new markets and the planned up-list to the NYSE-MKT, first quarter 2016 has been a high growth quarter for the Company. Investors are starting to realize the value of our products, business strategy and growth plans. Our execution of our business plan is meticulous, concise and it is working,” continued Dr. Damaj.
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Currently trading at a $21 million market valuation INNV had just $32 million in debt, $3.6 million in debt and small but growing revenues. Clearly there is heavy promotion going on here and those benefiting most would the holders of the six convertible notes sold by INNV last year that raised $1.32 million. The earliest of these notes reach maturity on August 26, 2016, while the last is due on October 29, 2016. All of these notes can be converted into stock at just $0.15 a share well below the current market value. INVV is an exciting story in small caps; the Company recently raised $2.5 million in growth capital and repaid much of its outstanding debt and continues to see with multiple areas of expansion, progress and growth. The planned up-list to the NYSE-MKT, first quarter 2016 is memorable on its own. We will be updating on INNV when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with INNV.
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Disclosure: we hold no position in INNV either long or short and we have not been compensated for this article.