ds healthcare group inc (DSKX) Key Developments
DS Healthcare Group, Inc. Announces Discovery of New Peptide
Feb 26 15
DS Healthcare Group, Inc. announced that it has initiated synthesis of a new peptide for the treatment of hair loss and related conditions. The peptide works directly on the FGF5 (Fibroblast growth factor 5) pathway. Suppression of FGF5 has been shown to extend the anagen cycle of hair growth and causes more hair growth and longer hair. The new ingredient will be used to further enhance the company's OTC hair treatments and lash products. FGF-5 has shown suppressing activities on hair growth by inhibiting anagen proceeding and inducing the transition from anagen to catagen phase; leading to hair aging and subsequently loss. In vivo studies have demonstrated that blocking of FGF-5 gene prolongs anagen VI phase of hair cycle, resulting in long hairs in animals. FGF-5S, a shorter polypeptide translated from alternatively spliced FGF-5 mRNA, was found to be suppressing these undesirable activities of FGF-5. These early finding establish FGF-5 antagonism as a viable strategy for increased hair growth. This new peptide is designed specifically to antagonize effects of FGF-5 by aligning with receptor binding sites and preventing FGF-5 from accessing the receptors.
DS Healthcare Group, Inc. Enters into an Agreement with 18/8
Feb 3 15
DS Healthcare Group, Inc. announced it has entered into an agreement to begin supplying 18/8 Fine Men's Salons nationwide. 18/8 Fine Men's Salons services are geared towards helping men look and feel great, which can lead to more self confidence and better performance in all that they do. The launch is scheduled to begin at 18/8 Fine Men's Salons corporate locations and the rollout will move quickly through the franchisees and will include strategic support from DS Healthcare. Products manufactured by DS Healthcare are closely aligned with 18/8's model of core values with a strong focus on innovation and performance.
DS Healthcare Group, Inc., Annual General Meeting, Jan 12, 2015
Dec 31 14
DS Healthcare Group, Inc., Annual General Meeting, Jan 12, 2015., at 14:00 US Eastern Standard Time. Location: 1601 Green Road. Agenda: To approve the election of four directors; to consider the ratification of the appointment of Marcum LLP as its independent registered public accounting firm; and to consider any other business as may properly come before the meeting.
DS Healthcare Group, Inc. Receives Non-Compliance Notice From NASDAQ
Dec 19 14
On December 16, 2014, DS Healthcare Group, Inc. received a letter from the listing qualifications department staff of the NASDAQ Stock Market (NASDAQ) notifying the company that for the last 30 consecutive business days the bid price of the company’s common stock had closed below $1.00 per share, the minimum closing bid price required by the continued listing requirements of NASDAQ listing rule 5550(a)(2). In accordance with listing rule 5810(c)(3)(A), the company has 180 calendar days, or until June 15, 2015, to regain compliance with the minimum bid price rule. To regain compliance, the closing bid price of the company’s common stock must be at least $1.00 per share for a minimum of ten consecutive business days (or such longer period of time as the NASDAQ staff may require in some circumstances, but generally not more than 20 consecutive business days) before June 15, 2015. If the company’s common stock does not achieve compliance by June 15, 2015, the company may be eligible for an additional 180-day period to regain compliance if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards, with the exception of the bid price requirement, and provides written notice to NASDAQ of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. However, if it appears to the NASDAQ staff that the company will not be able to cure the deficiency, or if the company does not meet the other listing standards, NASDAQ could provide notice that the company’s common stock will become subject to delisting. In the event the company receives notice that its common stock is being delisted, NASDAQ rules permit the company to appeal any delisting determination by the NASDAQ staff to a Hearings Panel. The company currently meets the continued listing requirement for market value of publicly held shares and all other initial listing standards of the NASDAQ Stock Market, with the exception of the bid price requirement. The company intends to actively monitor the closing bid price of its common stock between now and June 15, 2015 and will evaluate available options to resolve the deficiency and regain compliance with the minimum bid price rule.
DS Healthcare Group, Inc. Announces Financial Results for the Third Quarter and Nine Months Ended September 30, 2014
Nov 17 14
DS Healthcare Group, Inc. announced financial results for the third quarter and nine months ended September 30, 2014. For the quarter, net revenues were $3,278,117, an increase of 2.4% over revenues of $3,200,189 in the year-earlier period. Revenue growth in the third quarter was driven by higher sales from the company's Mexican subsidiary. This growth was partially offset by a reduction in domestic sales due to $1 million in open orders that are scheduled for delivery during the fourth quarter. Net loss narrowed by 94.8% to $54,496 or $0.00 per share from $1,053,406 or $0.08 in the same period of 2013. On an adjusted EBITDAS basis, a non-GAAP financial measure resulted in a gain of $94,018 compared to a loss of $777,865 in the year-earlier period.
For the nine months, net revenues were $9,707,504, a 8.4% decline from revenues of $10,593,035 for the nine months ended September 30, 2013. Net revenue growth by the company's Mexican subsidiary was offset by a decrease in sell-through in foreign markets due to pending regulatory licensing and a decline in recorded domestic sales due to backorders that were pending completion and shipments. The company's net loss decreased by 32.4% to $1,533,617 or $0.10 per share in the first nine months of 2014 from $2,268,463 or $0.19 per share in the same period of 2013.