News Releases
Ainos reflects upon multiple business milestones following Nasdaq listing, as it diversifies its revenues and advances its product pipeline
SAN DIEGO, CA / ACCESSWIRE / August 10, 2023 / Ainos, Inc. (NASDAQ:AIMD, AIMDW) ("Ainos", or the "Company"), a diversified healthcare company focused on the development of novel point-of-care testing, low-dose interferon therapeutics, and synthetic RNA-driven preventative medicine, today announced that it is celebrating the one-year anniversary of its listing on the Nasdaq. To commemorate this important milestone, Nasdaq displayed a special congratulatory message on its MarketSite Tower in New York's Times Square.
Image courtesy of Nasdaq, Inc.
Chun-Hsien (Eddy) Tsai, Ainos' Chairman of the Board, President, and Chief Executive Officer, commented, "We are delighted to celebrate our first listing anniversary on the Nasdaq and reflect on the progress we have achieved over the past year. Since our listing, we have achieved several significant milestones that demonstrate our commitment to diversifying and growing our revenues and to building a capital efficient business model."
"First, we successfully commercialized Ainos COVID-19 test kits in Taiwan, providing a crucial tool in the fight against the pandemic during 2022. In June 2023, we launched five VELDONA® Pet cytoprotein health supplements in Taiwan, with the target of expanding into new markets and achieving revenues of approximately US$20 million in 2024. We have also established multiple strategic relationships, including one with Swiss Pharmaceutical for VELDONA® human drug manufacturing and another with Topmed International Biotech for marketing VELDONA® Pet in Taiwan. Our fundraising efforts have proven fruitful, with a $3 million private placement in March that we believe will help us accelerate our growth and innovation."
"Looking ahead to the remainder of 2023, we are thrilled to be embarking on a new growth phase. We have partnered with Nisshinbo Micro Devices Inc. and Taiwan Inabata Sangyo Co. to co-develop a volatile organic compound sensing platform for applications including telehealth, automotive, industrial, and environmental safety. We believe we have formed a strong team to drive our vision of digitizing smell and creating potential hardware and licensing revenues for Ainos. We are also excited for the business potential of VELDONA® Pet, which we expect will be a significant growth driver for our business. Importantly, we expect to complete Ainos Flora's clinical study by the end of 2023. We will continue to pursue out-licensing opportunities for our VELDONA® human drug candidates, with the goal of expanding our impact in the healthcare market. We believe that these initiatives will position us for further success and development in the years ahead. As we celebrate this one-year anniversary, I would like to thank our shareholders for their tremendous support during our journey. I am incredibly proud of what we have accomplished together, and look forward to the next chapter in our story as a Nasdaq-listed, diversified healthcare company."
About Ainos, Inc.
Headquartered in San Diego, California, Ainos, Inc. is a diversified healthcare company engaged in developing innovative medical technologies for point-of-care testing and safe and novel medical treatment for a broad range of disease indications. In addition to its proprietary therapeutics using low-dose non-injectable interferon, Ainos has also expanded its product portfolio to include Volatile Organic Compounds (VOC) and COVID-19 POCTs. Powered by its AI Nose platform, the lead POCT candidate, Ainos Flora, is a telehealth-friendly POCT for women's health and certain common STIs. To learn more, visit https://www.ainos.com.
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Forward-Looking Statements
This press release contains "forward-looking statements" about Ainos within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "anticipate," "believe," "estimate," "approximate", "expect," "intend," "plan," "predict," "project," "target," "future," "likely," "strategy," "foresee," "may," "guidance," "potential," "outlook," "forecast," "should," "will" or other similar words or phrases. Similarly, statements that describe the Company's objectives, plans or goals are, or may be, forward-looking statements. Forward-looking statements are based only on the Company's current beliefs, expectations, and assumptions. Forward-looking statements are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. The Company's actual results may differ materially from those indicated in the forward-looking statements.
Important factors that could cause the Company's actual results to differ materially from the projections, forecasts, estimates and expectations discussed in this press release include, among others, the cost of production and sales potential of the planned drug treatments announced in this press release; the Company's dependence on projected revenues from the sale of COVID-19 test kits and its VELDONA® Pet line of supplements; the Company's limited cash and history of losses; the Company's ability to achieve profitability; the Company's ability to raise additional capital to continue the Company's product development; the ability to accurately predict the future operating results of the Company; the ability to advance Ainos' current or future product candidates through clinical trials, obtain marketing approval and ultimately commercialize any product candidates the Company develops; the ability to obtain and maintain regulatory approval of Ainos product candidates; delays in completing the development and commercialization of the Company's current and future product candidates, which could result in increased costs to the Company, delay or limit the ability to generate revenue and adversely affect the business, financial condition, results of operations and prospects of the Company; intense competition and rapidly advancing technology in the Company's industry that may outpace its technology; customer demand for the products and services the Company develops; the impact of competitive or alternative products, technologies and pricing; disruption in research and development facilities; lawsuits and other claims by third parties or investigations by various regulatory agencies governing the Company's operations; potential cybersecurity attacks; increased requirements and costs related to cybersecurity; the Company's ability to realize the benefits of third party licensing agreements; the Company's ability to obtain and maintain intellectual property protection for Ainos product candidates; compliance with applicable laws, regulations and tariffs; continued listing on and compliance with the applicable regulations of the Nasdaq Capital Market; and the Company's success in managing growth. A more complete description of these risk factors and others is included in the "Risk Factors" section of Ainos' Annual Report on Form 10-K for the year ended December 31, 2022 and other reports filed with the U.S. Securities and Exchange Commission ("SEC"), many of which risks are beyond the Company's control. In addition to the risks described above and in the Company's reports filed with the SEC, other unknown or unpredictable factors also could cause actual results to differ materially from the projections, forecasts, estimates and expectations discussed in this press release.
The forward-looking statements made in this press release are expressly qualified in their entirety by the foregoing cautionary statements. Ainos undertakes no obligation to, and expressly disclaims any such obligation to, publicly update or revise any forward-looking statement to reflect changed assumptions, the occurrence of anticipated or unanticipated events or changes to the future results over time or otherwise, except as required by law.
Investor Relations Contact
ICR, LLC
Robin Yang
Tel: +1 646-224-6971
Email: Ainos.IR@icrinc.com
SOURCE: Ainos, Inc.
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