garnered three orders for Vivamune Health Chews from Mexico and Taiwan, "a positive step in building a recurring revenue stream," reported Noble Capital Markets analyst Joe Gomes in an August 2022 research note.
"These new sales and customer wins in key markets like Taiwan and Mexico follow sales in Canada and the U.S., and are clear signs of the growing demand for the company's companion animal product as an important part of promoting pet health," Gomes commented.
Along with Vivamune, Avivagen's portfolio of products, ranging from the development to commercial sales phases, includes ones for livestock (OxC-beta) and humans.
Given recent sales momentum, Noble rates Avivagen Outperform. Noble's $1 per share target price on the life sciences company implies a significant return from where it is currently trading, around $0.18 per share.
Gomes provided a bit more information on the recent Vivamune sales. In Mexico, an independent distributor of nutritional products for dogs ordered 4,000 units with a white label so it can market them under its own brand. A second customer ordered 500 units.
In Taiwan, a single customer ordered 1,500 units, which is noteworthy for two reasons. It is the largest order placed through Avivagen's distributor in Thailand this year, and it suggests the Asian markets are now more aware of Avivagen's products.
In other Avivagen news, Gomes relayed, Chief Financial Officer Chris Boland left the company. A search is on for a replacement.
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