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Adam R. Levy, the Chief Executive Officer of NexGel, Inc. (NASDAQ:NXGL), has sold 4,000 shares of the company’s common stock. The shares were sold at a weighted average price of $3.0096 per share, resulting in a total transaction value of $12,038. Following this sale, Levy retains ownership of 370,284 shares directly in the $23 million market cap company. According to InvestingPro data, the stock is down 32.5% year-to-date, despite impressive revenue growth of 112% in the last twelve months.
This transaction was executed under a Rule 10b5-1 trading plan, which Levy had instituted for tax planning purposes. The shares involved in this sale were originally acquired by Levy from the company in October 2019 and were not part of NexGel’s recent registered direct offerings. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 2.07, though it faces challenges with cash burn. Get access to 6 additional key ProTips and comprehensive financial analysis with an InvestingPro subscription.
In other recent news, Nexgel Inc. reported a significant increase in revenue for the fourth quarter of 2024, achieving $3.04 million, which exceeded the forecasted $2.98 million. This marks a 181% year-over-year growth, showcasing the company’s expanding footprint in the market. Despite a net loss of $850,000 for the quarter, Nexgel’s strategic initiatives in product expansion and partnerships are expected to contribute to future growth. The company has set a revenue projection of at least $2.75 million for the first quarter of 2025 and anticipates achieving positive EBITDA within the year. Nexgel’s partnership with companies like Cintas (NASDAQ:CTAS) and plans for new product launches highlight its focus on innovation and market expansion. CEO Adam Levy described 2024 as a "watershed year" for the company, emphasizing a strong pipeline and strategic market positioning. The company’s full-year revenue for 2024 totaled $8.69 million, reflecting a 112% increase from the previous year. These developments indicate a promising outlook for Nexgel as it continues to strengthen its market presence.
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