NEW YORK, Dec. 01, 2022 (GLOBE NEWSWIRE) — Diamond Fairness Analysis, a number one fairness analysis agency with a concentrate on small capitalization public corporations has launched replace word on Tivic Well being Techniques, Inc. (NASDAQ: TIVC). The replace word contains info on the Tivic Well being Techniques’ monetary outcomes, administration commentary, latest developments, outlook, dangers, and our revised valuation estimates.
The replace word is accessible right here. Highlights from the word embrace:
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Q3 2022 Key Monetary Highlights – Tivic Well being Techniques, Inc. (“Tivic”) reported Q3 2022 income at $0.48 million (indicating a y-o-y improve of 72% in comparison with the identical interval final yr). The spectacular improve in income is attributable to a rise within the gross sales worth and the expansion within the firm’s direct-to-consumer gross sales channels, which aligns properly with the corporate’s progress technique. For the 9 months ended September 2022, Tivic’s income elevated to $1.4 million (a rise of 65% from $868 thousand in comparison with the identical interval final yr). Tivic’s direct-to-consumer unit gross sales quantity elevated 130% and 146% for 3-months and 9-months ended September 2022, respectively. Tivic’s 3Q 2022 R&D bills had been $399 thousand (in comparison with $175 thousand for a similar interval in 2021), primarily as a consequence of extra investments in product analysis, high quality, and design. The corporate reported a 3Q 2022 gross revenue of $63 thousand (as in comparison with a gross lack of $26 thousand for a similar interval final yr) and a 3Q 2022 web lack of 2.6 million (in comparison with $2.3 million web loss in the identical interval final yr). The will increase in web loss had been primarily attributable to a rise in promoting, basic, and administrative bills, which was because of the enlargement of the corporate’s gross sales and advertising and marketing efforts, prices associated to the pending Reliefband acquisition, D&O insurance coverage prices, elevated lease, and elevated headcount {and professional} providers which might be required for public firm requirements. As of September 30, 2022, Tivic reported money and money equivalents of $6.3 million.
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Securing Financing to Purchase Reliefband Property – Throughout 3Q 2022, Tivic Well being Techniques introduced that it has entered right into a definitive settlement to amass Reliefband’s nausea product line and all associated belongings from Reliefband Applied sciences, LLC. Reliefband is an innovator in FDA-cleared wearable therapeutics for treating nausea and vomiting. Its wearable nerve stimulators can deal with nausea related to seven unbiased scientific indications, together with nausea from movement illness, being pregnant, migraines, nervousness, chemotherapy, medicines, and hangovers. Tivic has agreed to a consideration of $33.5 million, out of which as much as $1.5 million may be paid within the restricted frequent inventory of Tivic. After satisfying sure customary closing circumstances, the transaction is predicted to be consummated by 4Q 2022 or 1Q 2023. On October 26, 2022, Tivic filed an S-1 Registration Assertion with the SEC, a preliminary prospectus, displaying its intent to safe extra financing to fund the Reliefband acquisition.
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Manufacturing Partnership with Microart – On November 2022, Tivic introduced that it has entered into an settlement with Buffalo-based Microart Companies Inc. to fabricate, on a non-exclusive foundation, sure elements and sub-assemblies of the corporate’s present and future merchandise. The corporate expects that the brand new partnership with Microart will considerably cut back the price of manufacturing its ClearUP product and probably its future merchandise. Tivic additionally soft-launched a brand new company branding together with a rise within the producer’s recommended retail worth by $20 per unit.
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Valuation – We’ve up to date our valuation methodology, incorporating the Reliefband acquisition, newest financials and adjustments in our estimates. Moreover, we’ve up to date the share rely and accounted for adjustments in adjustments in our comparable firm evaluation. The up to date valuation methodology yielded a per-share worth of $7.69 per share contingent on profitable execution by the corporate.
About Tivic Well being Techniques, Inc.
Tivic Well being Techniques Inc. is a commercial-phase well being know-how firm that develops and commercializes bioelectronic medication. The corporate’s first business product, ClearUP® Sinus Aid, is a medical gadget meant to alleviate sinus and nasal irritation.
For extra info, go to https://tivichealth.com/
About Diamond Fairness Analysis
Diamond Fairness Analysis is a number one fairness analysis and company entry agency targeted on small capitalization corporations. Diamond Fairness Analysis is an accredited sell-side supplier on main institutional investor platforms together with Factset, Morningstar, and Thomson One.
For extra info, go to https://www.diamondequityresearch.com.
Disclosures:
Diamond Fairness Analysis LLC is being compensated by Tivic Well being Techniques, Inc. (NASDAQ: TIVC) for producing analysis supplies concerning Tivic Well being Techniques, Inc., and its securities, which is supposed to subsidize the excessive price of making the report and monitoring the safety, nonetheless, the views within the report replicate that of Diamond Fairness Analysis. All funds are acquired upfront and are billed for an annual or semi-annual analysis engagement. As of 12/01/22, the issuer had paid us $35,000 for our providers, which commenced 04/25/2022 and is billed yearly. Diamond Fairness Analysis LLC could also be compensated for non-research associated providers, together with presenting at Diamond Fairness Analysis funding conferences, press releases and different extra providers. The non-research associated service price depends on the corporate, however normally don’t exceed $5,000. The issuer has not paid us for non-research associated providers as of 12/01/22. Issuers usually are not required to interact us for these extra providers. Further charges might have accrued since then. Though Diamond Fairness Analysis firm sponsored stories are primarily based on publicly out there info and though no funding suggestions are made inside our firm sponsored analysis stories, given the small capitalization nature of the businesses we cowl we’ve adopted an inner buying and selling process across the public corporations by whom we’re engaged, with traders capable of finding such coverage on our web site public disclosures web page. This report and press launch don’t take into account particular person circumstances and doesn’t think about particular person investor preferences. Statements inside this report might represent forward-looking statements, these statements contain many threat elements and basic uncertainties across the enterprise, trade, and macroeconomic surroundings. Buyers want to pay attention to the excessive diploma of threat in small capitalization equities together with the whole lack of their funding. Buyers can discover varied threat elements within the initiation report and within the respective monetary filings for Tivic Well being Techniques, Inc.
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