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NEWPORT BEACH, Calif. - Elevai Labs, Inc. (NASDAQ: ELAB), a company specializing in medical aesthetics, released new data from an ongoing research study in partnership with the National Hair Loss Medical Aesthetics (NHLMA), indicating the effectiveness of its Elevai Exosomes™ in treating hair thinning and loss. The study involved participants with hair loss applying a topical exosome serum, followed by an at-home exosome product.
Participants received scalp microneedling before the in-office application of Elevai empower™ serum, and subsequently used Elevai enfinity™ at home. Outcomes, assessed up to 12 months through imaging analysis, showed halted scalp inflammation, hair thickening, and reactivation of dormant hair follicles.
Carly Klein, President of NHLMA, indicated that the exosomes were tested on patients with androgenetic alopecia at both early and late stages of hair loss. The results have shown promise in the use of exosome technology in conjunction with other hair restoration methods.
This research precedes further studies by Elevai on its upcoming Elevai S-Series Root Renewal System™, which combines exosome and mitochondrial technologies to promote scalp and hair vitality. According to Dr. Jordan R. Plews, CEO of Elevai Skincare Inc., the findings from NHLMA provide initial validation for their exosome technology in hair and scalp health.
Elevai Labs Inc. operates through three subsidiaries, focusing on skin aesthetics and metabolic health treatment development. It's noteworthy that the company's forward-looking statements involve risks and uncertainties, as detailed in their SEC filings.
This report is based on a press release statement and presents the study's findings as potential advancements in hair restoration technology.
In other recent news, Elevai Labs Inc. has been making significant strides in the medical aesthetics field. The company recently filed two patents in collaboration with Yuva Biosciences for new hair and scalp care technology. The technology combines Elevai's exosome technology and Yuva Biosciences' Y100 mitochondrial technology, aiming to enhance hair vitality and address aging signs at the cellular level.
Elevai Labs has also reported positive results from a skincare study using its product, Elevai enfinity™, indicating significant improvement in various skin appearance metrics. The company discovered that their proprietary exosomes may contain a unique protein profile beneficial for skin health, with further studies planned to validate these findings.
The company has also made strategic moves, amending its license agreement with INmune Bio Inc. and securing a $200,000 unsecured credit line from NorthStrive Fund II LLP for additional capital flexibility. Elevai Labs also announced the formation of two wholly owned subsidiaries, Elevai Biosciences, Inc., and Elevai Skincare, Inc., and acquired exclusive licensing rights for two novel drug candidates from South Korean company MOA Life Plus Co., Ltd. Lastly, Elevai Labs entered into an exclusive distribution agreement with ILIA International Ltd. for its exosome-based skincare products in Taiwan. These are the recent developments from Elevai Labs.
InvestingPro Insights
In light of Elevai Labs, Inc.'s (NASDAQ: ELAB) recent advancements in medical aesthetics, the company's financial health and market performance provide additional context for investors. According to InvestingPro data, ELAB boasts an impressive gross profit margin of 69.25% for the last twelve months as of Q2 2024, signaling a strong ability to control costs relative to its revenue, which is particularly relevant as the company invests in research and development for its new products.
However, the company's stock has experienced significant volatility, with a price total return of -92.16% over the last year and -18.03% over the past week, reflecting market reactions to both operational performance and broader economic conditions. The InvestingPro Tips highlight that ELAB is quickly burning through cash, which could be a concern for investors given the company's focus on long-term research projects like the Elevai S-Series Root Renewal System™.
With a market capitalization of just 5.54 million USD, ELAB operates with a moderate level of debt, which is an important consideration for investors assessing the company's financial resilience. Despite the challenges, the InvestingPro Fair Value estimate stands at 0.34 USD, suggesting a potential undervaluation based on current metrics. For those looking to delve deeper, there are additional InvestingPro Tips available, offering a comprehensive analysis of ELAB's financials and market position.
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