FREEHOLD, N.J. - Avalon GloboCare Corp. (NASDAQ: ALBT), a biotechnology company focused on cellular therapeutics and diagnostics, has announced the expansion of its distribution partnership with Qi Diagnostics Limited for KetoAir, an AI-powered breathalyzer designed for ketogenic health management.
The extended agreement grants Avalon exclusive rights to distribute KetoAir and its accessories in North America, South America, the United Kingdom, and the European Union.
KetoAir is registered with the United States FDA and features nanosensor technology coupled with AI algorithms to monitor ketosis levels. The device, which delivers instant results via a single breath, is complemented by an app that logs diet records and provides personalized nutrition and exercise guidance.
David Jin, M.D., Ph.D., President and CEO of Avalon GloboCare, expressed optimism about the product's potential, particularly for diabetes and obesity management. A soft launch is anticipated in 2024, with a full-scale release expected in 2025.
Avalon GloboCare, headquartered in New Jersey, is a clinical-stage biotech firm that also offers strategic advisory and outsourcing services to the healthcare and CellTech industries. The company is known for its work in cellular immunotherapy, exosome technology, and regenerative therapeutics.
The information in this article is based on a press release statement. Avalon GloboCare's forward-looking statements regarding KetoAir's commercialization and distribution are subject to a variety of factors that could impact actual results, as disclosed in their filings with the Securities and Exchange Commission.
InvestingPro Insights
As Avalon GloboCare Corp. (NASDAQ: ALBT) gears up for the launch of KetoAir, its AI-powered breathalyzer, investors are keeping a close eye on the company's financial health and market performance. According to real-time data from InvestingPro, Avalon GloboCare currently has a market capitalization of $3.33 million USD. Despite the potential of their new product, the company's revenue for the last twelve months as of Q3 2023 stands at $1.11 million USD, reflecting a decline of 7.05%.
InvestingPro Tips highlight that the stock has been under significant pressure, with a price total return of -83.99% over the last year and a concerning short-term outlook, as the stock has fared poorly over the last month with a price total return of -27.2%. These figures underscore the challenges the company faces in the market.
Furthermore, the company's gross profit margin for the same period is relatively low at 6.82%, which suggests room for improvement in its operational efficiency. Investors should also note that Avalon GloboCare does not pay a dividend to shareholders, which may be a consideration for those seeking income-generating investments.
For those interested in a deeper dive into Avalon GloboCare's market performance and financial metrics, InvestingPro offers additional insights and tips. To explore these, visit: https://www.investing.com/pro/ALBT. Remember, using the coupon code PRONEWS24 provides an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable information for savvy investors. There are 11 additional InvestingPro Tips available for ALBT, each providing strategic insights into the company's performance and prospects.
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