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NuGen Medical Devices Inc ( (TSE:NGMD) ) has shared an announcement.
NuGen Medical Devices Inc. announced its 2024 annual financial results, highlighting a record year of revenue with a 305% increase, aligning with management’s expectations. The company successfully reduced costs and improved its balance sheet by renegotiating long-term debt and closing a $10 million private placement, which enhanced its working capital. These financial improvements position NuGen for further commercialization and product development, with plans to expand distribution and increase sales efforts in 2025, particularly in Canada and Europe.
More about NuGen Medical Devices Inc
NuGen Medical Devices Inc. is a leading developer of needle-free devices for the subcutaneous administration of therapeutics. The company markets and sells its InsuJet™ needle-free injection system, which is designed to improve the lives of millions of diabetics and is approved for sale in 42 countries worldwide.
YTD Price Performance: 21.43%
Average Trading Volume: 176,572
Technical Sentiment Signal: Hold
Current Market Cap: C$17.78M
For an in-depth examination of NGMD stock, go to TipRanks’ Stock Analysis page.