Business
Lattice Biologics Ltd. Reports First Quarter 2017 Highlights
Lattice Biologics Ltd. Reports First Quarter 2017 Highlights.
About this update from Lattice Biologics Ltd
[{"type":"text","content":"\n\n\n\n\nMarketwire\n\n\n\n\nLattice Biologics Ltd. Reports First Quarter 2017 Highlights\n\n\nRecord Gross Margin of 36.6% or $326,620\n\n\n\n\n\n\n SCOTTSDALE, ARIZONA--(Marketwired - March 1, 2017) - Lattice Biologics Ltd. (TSX VENTURE:LBL) (OTCQB:LBLTF) (\"Lattice Biologics\" or the \"Company\") announces financial results for the first quarter ended December 31, 2016: \n Highlights:\n \n \n Record Gross Margins increased 44% Q1 2017 over Q1 2016\n Continued sales focus to higher margin product mix\n Acellular Dermal Products sales growth 306% Q1 2017 over Q1 2016\n DBM Putty sales growth 14.2% Q1 2017 over Q1 2016\n First commercial sale of newly launched amnion based products now account for 5% of Q1 2017 sales\n Restructured sales force to include 4 direct sales representatives, and new international distributors \n \n \n Q1 2017 Business Update:\n The Company remains focused on raising additional capital to: assist with its working capital constraint; fulfill open purchase orders; launch the Company's new product lines; and support R&D efforts. Appropriate working capital conditions will allow the Company to expand current operations by accepting and processing a greater number of donors each month, launch new higher-margin product lines, and to create a direct sales force of 15-20 new sales representatives in 2017. \n Furthermore, Lattice Biologics is proactively working to complete key additions to its Scientific Advisory Boards (SABs) which are comprised of strategic Key Opinion Leaders (KOLs) in each of the Company's targeted surgical specialties. These professionals play a significant role in influencing industry perception and opinion and can be instrumental in the recruitment of new surgeon partners and generation of critical clinical data.\n \"I am extremely pleased with our R&D team's efforts to create a next generation amniotic fluid based product. We can now super-concentrate amniotic based stem cells up to 20 million cells per mL, while still increasing cell viability, and removing unwanted contaminants. We are working closely with leading KOL's in the field to further our clinical data in multiple new areas and to increase our understanding of this revolutionary new product,\" states CEO Guy Cook. \n Lattice Biologics maintains its commitment to honoring the gift of don...