Full Press Release Details
Reports Preliminary Second Quarter 2021 Financial Results and Provides Corporate Update
LANGHORNE, Pa. - July 22, 2021 - NEXGEL, Inc. ("NEXGEL"
or the "Company"), a leading provider of ultra-gentle, high-water-content hydrogels for healthcare and consumer applications,
today announced its preliminary financial results for the three-month period ended June 30, 2021 and provides a corporate update.
"Our revenue increased from $267,000 in first quarter of 2021
to $417,000 in the second quarter of 2021 primarily driven by an increase in custom label products with new customers, despite a portion
of our legacy customers being affected by supply chain delays. It is great to see that our new product offerings are being met with excitement
from the market. We have partnered with some of the industry's leading beauty and consumer health companies to develop fully customizable
products that leverage our ultra-gentle, high-water-content hydrogels. Our custom label business represents a significant commercialization
opportunity going forward, while we continue to gain traction from our e-commerce proprietary consumer health brand, Medagel, with plans
to launch our beauty & cosmetics brand, Lumagel, in the Fall of 2021," said Adam Levy, NEXGEL CEO.
Financial & Corporate Highlights
NEXGEL is a leading provider of ultra-gentle, high-water-content hydrogels for healthcare and consumer applications. Based in Langhorne,
Pa., the Company has developed and manufactured electron-beam, cross-linked hydrogels for over two decades. NEXGEL has formulated more
than 200 different combinations to bring natural ingredients to gentle skin patches that can be worn for long periods of time with little
Forward-Looking Statements
contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") (which Sections were adopted as part of the Private
Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words "believe,"
"anticipate," "estimate," "expect," "intend," "plan," "project," "prospects,"
"outlook," and similar words or expressions, or future or conditional verbs, such as "will," "should," "would,"
"may," and "could," are generally forward-looking in nature and not historical facts. These forward-looking statements
involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance, or achievements
to be materially different from any anticipated results, performance, or achievements for many reasons including the impact of the COVID-19
pandemic. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a
result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company's forward-looking
statements, please see the Company's Annual Report on Form 10-K for the year ended December 31, 2020, including but not limited to the
discussion under "Risk Factors" therein, which the Company filed with the Securities and Exchange Commission and which may be
viewed at http://www.sec.gov/.
Valter Pinto / Nick Staab
KCSA Strategic Communications
212.896.1254 / 212.896.1254
Caitlin Kasunich / Raquel Cona
KCSA Strategic Communications
212.896.1241 / 516.779.2630