Akers Biosciences revenues, gross profit up 10%, overhead lowered 10%

Akers Biosciences has announced the results for the first half 2017 in which it posted gross profit to be up 10% to $1,342,160, compared to the same period previous year, $1,217,634. As the total revenues moved up 10% for first 6 months of 2017 which were $1,865,112, compared to the 2016’s first half of $1,694,510, Akers Biosciences’s loss before income tax was reduced by 20% to $2,051,918, from first half in 2016, $2,517,861.

John J. Gormally, Chief Executive Officer, who in the meantime was elected to the board of the directors, together with Raymond F. Akers Jr, Executive Chairman, said they were pleased to report growth in total revenues for the first half, as well as 25% for the second quarter, which were around $1.2 million. They pointed out that the significant majority of these revenues continued to be generated from sales of the company’s flagship test for an allergy to the widely-used blood thinner, heparin. „It is encouraging to note that sales of these products or components in the first half were made in each of our core geographic regions of the U.S., China and Rest of World,“ the company’s leaders said.

„A great deal of sales and marketing emphasis in the first half and second quarter of 2017 has been placed on BreathScan OxiCheck™ – an Akers Wellness™ breath test which we believe will become a major contributor of profitable growth in the years ahead. This rapid breath test for oxidative stress – a good indicator of general health and wellbeing – works in conjunction with our BreathScan Lync™ bluetooth-enabled reading device which allows users to track the results of OxiChek™ via their mobile device, now including iOS devices,“ their statement reads.

They said in a press release, the company’s already begun recording small sales of OxiChek to the anti-aging, functional and integrative health and wellness treatment practitioner market in the U.S. as part of our strategy to gain initial acceptance of the product from professionals.

Discussions with large organisations

They also pointed out that theere are interesting ongoing discussions with „large organizations“ operating within the nutraceutical product sector with regards to significant potential commercial partnerships with OxiChek. Also, certain commercial campaings got interest for which the leaders of the company said is encouraging.

Outlook

The company will continue with its sales strategy for PIFA Heparin/PF4 Rapid Assay products in the U.S. of focusing on integrated delivery networks and group purchasing organizations.

„Finally, we look forward to further commercial progress with the Company’s OxiChek oxidative stress test which we believe can be a major driver of Akers Bio’s profitable growth in the future.“