NuGene International Inc. Announces 153% Revenue Growth in Q2 versus Q2 2014
IRVINE, Calif., Aug. 17, 2015 /PRNewswire/ — NuGene International, Inc. (the “Company” or “NuGene”) (NUGN) develops, manufactures and markets advanced skin and hair care lines utilizing adipose derived human stem cells and stem cell media. The Company announced that it had sales of $536,363 in Q2 2015 compared to $211,667 in Q2 2014.
A spokesperson for the Company attributed the increase to the Company’s ongoing focus on expanding its distribution through professional channels, including dermatologists, plastic surgeons, medical offices and spas, resulting in the increased sales when comparing Q2 2015 to Q2 2014. NuGene expects to continue to expand direct online sales and sales through upscale retail locations.
During the second quarter of 2015, NuGene began recruiting and training sales representatives who will concentrate on opening new distribution channels while providing each existing customer with a dedicated point of contact within the company. NuGene also expanded its consumer product line by introducing a Skin Care Trial Pack during June 2015 which includes Universal Cream, Universal Serum, Eye Serum and the Light & Bright Gel in convenient 10 ml bottles. Management believes that this will provide first-time consumers with an attractive introductory means of evaluating NuGene products on a trial basis.
The NuGene’s research team continued to develop additional consumer products, with the development of a facial mask, facial scrub and hydrating shampoo which management expects to launch during the third quarter of 2015.
The Company’s subsidiary, NuGene BioPharma, Inc., continues to develop the SkinGuardian® product line of skin protectant, antiseptic and moisturizing lotion (SkinGuardian was acquired by the Company in March 2015). Management anticipates launching the SkinGuardian product with the added stem cell media during the latter part of 2015 or early 2016 in over the counter departments of pharmacies and other distribution channels.
Ali Kharazmi, co-founder and CEO of NuGene International, stated, “We are delighted to report year over year revenue growth as our core business continues to expand and our brand gains greater name recognition. We are starting to see the commercial benefits of our newly created dedicated sales force. From here we hope to build our strategic vision of becoming a leading cosmetics brand. We continue to invest in developing both our cosmeceutical and biopharmaceutical product lines, while expanding our distribution base through agreements such as the one recently announced with Jon’Ric International.”
About NuGene, Inc.
NuGene International, Inc. specializes in developing, manufacturing and marketing proprietary regenerative cosmeceutical and pharmaceutical products based on adipose derived human stem cell and human stem cell media. The US Department of Health and Human Services calls regenerative medicine the “next evolution of medical treatments.” The regenerative medical market which includes cosmeceuticals and pharmaceuticals was estimated at $7.2 Billion in the US in 2014 and is expected to rapidly grow in the coming years according to RNCOS Business Consultancy Services Global Cosmeceuticals Market report. NuGene’s cosmeceutical and pharmaceutical products are based on proprietary stem cell based regenerative formulations derived from non-controversial, adult human stem cell derived media obtained from adipose tissue. NuGene’s exclusive products combine its in-house advancements, proprietary technologies, and patent pending formulations. The company has four patents pending covering 15 unique applications. NuGene’s goal is to leverage its knowledge and expertise to develop age defying cosmeceutical skincare and hair care products in addition to pharmaceutical products based on the same regenerative science platform.
Forward Looking Statements
This document contains “forward-looking statements,” statements related to future, not past, events. In this context, forward-looking statements often address NuGene’s expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” or “target.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about our current and future sales, planned operations, marketing activities and other operational, sales and financial plans. These may include our ability to convert pre-order commitments/wins into orders; timing of planned and anticipated product deliveries; the price we realize on orders since commitments/wins are stated at list prices; customer actions or developments such as customer returns and other factors that may affect the level of demand and performance of the major industries and customers we serve; the impact of regulation and regulatory, investigative and legal proceedings and legal compliance risks, including the impact of regulation and litigation; adverse market conditions, timing of and ability to obtain required regulatory approvals, or other factors relating to us; the impact of potential information technology or data security breaches; and the other factors that are described in “Risk Factors” in NuGene’s Annual Report on Form 10-K for the year ended December 31, 2014. These or other uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements. This document also contains non-GAAP financial information. Management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of our financial performance, identifying trends in our results and providing meaningful period-to-period comparisons.
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