Movers and SHAKERS
Avivagen Inc. (VIVXF)(VIV:CA)
First Quarter 2021 Results
Avivagen Inc is a Canadian based company operating in the healthcare sector. It develops science-based, natural health products for animals. It develops and commercializes products for livestock feeds to replace antibiotics for growth promotion and to help prevent disease by supporting the animal's own health defenses. Its product range includes OxC-beta, Vivamune health chews, Oximunol chewable tablets, and Carotenoid Oxidation products.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
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1Q21 Results. Avivagen reported fiscal first quarter revenue of $261,987 and a net loss of $1.27 million, or $0.03 per share. We had projected revenue of $700,000 and a net loss of $1.25 million, or $0.03 per share. During the quarter, Avivagen shipped 2,325 kg of product to the Philippines, Thailand, and Taiwan. We had expected shipments into Mexico too during the quarter but the shipments moved into the second quarter.
Increasing Volume. Although 1Q21 fell short of our expectations, so far in fiscal 2021 Avivagen has announced order volumes for fiscal 2021 that are larger than all of fiscal 2020. All shipping arrangements for the 10 tonne Mexican order have been finalized and shipments will commence in 2Q21. The 6 tonne order will begin in April 2021. We expect to see additional orders from UNAHCO, as well as...
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.