This is a company that recently announced financial and operating results for the first quarter of fiscal year 2010, ended June 30 and is starting to pick up some momentum in their profitability model. On June 4th, the company announced that it received an expanded 510(k) label clearance from the U.S. Food and Drug Administration (FDA) to market its Microcyn® Skin and Wound Cleanser with preservatives as both a prescription and over-the-counter formulation.
According to my sources, within the next day or so, the company will be announcing some news in regards to marketing efforts related to this new Rx product which is indicated for use by health care professionals to manage the debridement of wounds such as stage I-IV pressure ulcers, diabetic foot ulcers, post-surgical wounds, first- and second-degree wounds, grafted and donor sites.
One can never predict how the market will react to such news, but this is definitely good news for the company, who continues to grow and expand their product line. In addition, the company's two main objectives are to achieve cash breakeven by first quarter of 2010 and to achieve annual revenue of $45 to $60 million by fiscal year 2013. This news will certainly help propel it in that direction and may bring attention to the stock again after some of their recent low volume activity.
The company is Oculus Innovative Sciences, and some of you may recall that I interviewed Hoji Alimi, the CEO of the Petaluma California based company last June. I have a call in for another interview now and I will report as soon as I can about the impact of these developments.
For more about the product whose marketing efforts will commence in the coming days, please refer to the news release linked here.