NEXGEL, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 15, 2023 at 02:09 am IST
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NEXGEL, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 1.17 million compared to USD 0.561 million a year ago. Net loss was USD 0.695 million compared to USD 1.04 million a year ago. Basic loss per share from continuing operations was USD 0.12 compared to USD 0.19 a year ago. Diluted loss per share from continuing operations was USD 0.12 compared to USD 0.19 a year ago.
For the six months, sales was USD 1.79 million compared to USD 0.956 million a year ago. Net loss was USD 1.51 million compared to USD 2.87 million a year ago. Basic loss per share from continuing operations was USD 0.27 compared to USD 0.52 a year ago. Diluted loss per share from continuing operations was USD 0.27 compared to USD 0.52 a year ago.
NexGel, Inc. is a provider of healthcare, beauty, and over-the-counter products, including ultra-gentle, high-water-content hydrogels. It is engaged in manufacturing high water content, electron beam cross-linked, aqueous polymer hydrogels, or gels, used for wound care, medical diagnostics, transdermal drug delivery and cosmetics. It specializes in custom gels by capitalizing on proprietary manufacturing technologies. Its Nexgel segment comprises the manufacturing of ultra-gentle, high-water-content hydrogel products for healthcare and consumer applications, which is based in Langhorne, Pennsylvania. Its CG labs segment comprises the CG Converting and Packaging, LLC used for the Companyâs converting and packaging business, which is based in Granbury, Texas. All of its gel products are manufactured using proprietary and non-proprietary mixing, coating and cross-linking technologies. Its hydrogel consumer products are marketed under the brand names MedaGel and LumaGel Beauty.