NEW YORK - Better Choice Company (NYSE: BTTR), a prominent pet health and wellness firm, has recently acquired Aimia Pet Healthco Inc., a move that positions the company to spearhead internal clinical trials aimed at developing a weight loss supplement for pets. The acquisition follows a trend set by Pfizer (NYSE:PFE)'s Slentrol medication in addressing the widespread issue of pet obesity, which affects over half of the global dog and cat population.
The health implications for overweight pets are similar to those in humans, including arthritis, diabetes, and high blood pressure. In response to this, Better Choice plans to work with Aimia to create treats and toppers that not only aid in weight management but also incorporate protein and nutrients from their Halo products. This initiative aims to replicate the weight loss benefits seen in leading brands for both animals and humans, such as Wegovy, Ozempic, and Mounjaro, while promoting lean muscle and overall pet health.
Better Choice Company Inc. is known for its Halo brand, offering a broad portfolio of pet health and wellness products, including food, treats, dental products, and supplements. The acquisition is part of Better Choice's strategy to capitalize on the growing trends of pet humanization and consumer focus on health and wellness.
This news is based on a press release statement from Better Choice Company.
InvestingPro Insights
As Better Choice Company (NYSE: BTTR) forges ahead with its strategic acquisition of Aimia Pet Healthco Inc., investors are closely monitoring the company's financial health and stock performance. The company's stock has been under considerable pressure, with its price having declined significantly over the last year, and it continues to show high volatility. Additionally, the Relative Strength Index (RSI) suggests the stock is currently in oversold territory, which might attract investors looking for potential bargains.
From a valuation perspective, Better Choice is trading at a low Price / Book multiple of 0.37, as of the last twelve months ending Q3 2023. This could indicate that the stock is undervalued relative to its assets, a point of interest for value-oriented investors. With a market capitalization of just 8.99 million USD, the company's size remains a factor for consideration, especially when coupled with the fact that analysts are not expecting profitability this year.
In terms of financial stability, Better Choice appears to have sufficient liquid assets to meet its short-term obligations, which is a positive sign for its operational resilience. However, the company's revenue saw a decrease of 25.23% over the last twelve months as of Q3 2023, underscoring the challenges it faces in a competitive market.
For investors seeking a deeper dive into Better Choice's stock and financials, there are additional InvestingPro Tips available, including insights on cash burn rates, debt levels, and long-term price performance. To access these tips and more, visit InvestingPro. Plus, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more expert analysis and data to inform your investment decisions.
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