ViaDerma, Inc (OTCMKTS:VDRM) has been one of the biggest gainers recently as the stock has soared 200% over the past month. Moreover, the stock has gained 3178% over the past year.
ViaDerma, Inc. Announces Expansion of its Current Licensing Agreement and Provides Additional Company Updates
- announce they have expanded their current licensing agreement with a home health wound care network. Per the agreement, ViaDerma receives $5000 per month for each state in which the licensee is doing business. The licensee has just added two new states to the agreement increasing its total from six states to eight states.
- As a result of the two additional states ViaDerma’s royalties for the agreement will increase to $40,000 per month beginning this month. The licensee expects to double the current number of states to sixteen by year end. Based on that assumption, ViaDerma’s revenues would increase to $80,000 per month for this agreement, making the contract worth a minimum of $960,000 in annual revenues due in 2022.
- Additionally, the Company is announcing their licensed wound care products will begin to be utilized in a treatment protocol which is part of a new nationwide limb salvage campaign aimed at decreasing the limb amputation rate among high-risk populations. This is expected to generate about $600,000 in annual revenues for ViaDerma which should begin within 90 days.
- The Company is also announcing that later this month ViaDerma President, Dr. Chris Otiko will be traveling to Dubai for a June 25th meeting to finalize another licensing agreement. The contract is structured for a term of ten years and will be worth more than $12.5 million over the life of the agreement. The initial payment of $600,000 to ViaDerma will be due upon finalizing the agreement with another $600,000 payment expected by year end.
Market Action
on Tuesday, VDRM was up 41% to close at $0.0459 on heavy volume of 75.87 million, compared to its average volume of 32.90 million..
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