PetVivo (US:PETV)2024-02-13 03:04Financial Data and Key Metrics Changes - The company reported revenues of $596,000 for the third quarter of fiscal year 2024, an increase from $510,000 in the same period of fiscal year 2023 [4] - Net revenue from shipments of Spryng to MWI Animal Health was $440,000, down from $457,000 in the third quarter of fiscal year 2023 [4] - The company raised $1,248,000 from the sale of approximately 1,386,000 units on February 2, 2024 [9] Business Line Data and Key Metrics Changes - Revenue from shipments to Covetrus was $106,000, while direct sales to veterinary clinics generated $49,000, compared to $54,000 in the third quarter of fiscal year 2023 [25] Market Data and Key Metrics Changes - There has been a strong increase in awareness of the Spryng product among small animal veterinary doctors, attributed to positive clinical study results [11] - The company has secured distribution agreements with the top two distributors in the United States, enhancing market presence [12] Company Strategy and Development Direction - The company plans to increase its focus on social media to highlight clinical study results and positive outcomes from Spryng [20] - The acquisition of clinical data proving the safety and efficacy of Spryng is a priority, with additional studies planned for 2024 [31] Management's Comments on Operating Environment and Future Outlook - Management noted that the clinical trial results demonstrate Spryng as a reasonable non-invasive alternative for patients with cranial cruciate ligament disease [26] - The company anticipates releasing final data from ongoing studies in the fourth quarter of 2024 [18] Other Important Information - The final results of a clinical study evaluating Spryng's benefits were presented at a veterinary conference, showing significant improvement in dogs injected with Spryng [5] - The company has completed data accumulation for a study on managing hip joint osteoarthritis, with results to be presented at an upcoming conference [18] Q&A Session Summary - There were no questions from participants during the Q&A session, and the call concluded with a focus on getting Spryng into the market to assist companion animals suffering from osteoarthritis [13]