Business
PURE Bioscience Reports Fiscal 2023 Second Quarter And Six-Month Financial Results
PURE Bioscience Reports Fiscal 2023 Second Quarter And Six-Month Financial Results.
About this update from Pure Bioscience
[{"type":"text","content":"\nPURE Bioscience, Inc. (OTCQB: PURE), creator of the patented non-toxic silver dihydrogen citrate (SDC) antimicrobial, today reported financial results for the fiscal second quarter and six-month period ended January 31, 2023.\n\nQ2: Summary of Results of Operations\n\n\nNet product sales were $396,000 and $415,000 for the fiscal second quarter ended January 31, 2023 and 2022, respectively. The decrease of $19,000 was attributable to decreased sales across our distribution network.\n\n\nNet loss for the fiscal second quarter ended January 31, 2023 was $1,060,000, compared to $702,000 for the fiscal second quarter ended January 31, 2022.\n\n\nNet loss, excluding share-based compensation, for the fiscal second quarter ended January 31, 2023 was $933,000, compared to $522,000 for the fiscal second quarter ended January 31, 2022.\n\n\nNet loss per share was ($0.01) for the fiscal second quarters ended January 31, 2023 and 2022, respectively.\n\n\nSix Months: Summary of Results of Operations\n\n\nNet product sales were $863,000 and $912,000 for the six months ended January 31, 2023 and 2022, respectively. The decrease of $49,000 was attributable to decreased sales across our transportation and distribution network.\n\n\nNet loss for the six months ended January 31, 2023 was $2,053,000, compared to $1,498,000 for the six months ended January 31, 2022.\n\n\nNet loss, excluding share-based compensation, for the six months ended January 31, 2023 was $1,842,000, compared to $1,128,000 for the six months ended January 31, 2022.\n\n\nNet loss per share was ($0.02) for the six months ended January 31, 2023 and 2022, respectively.\n\n\nBusiness Update\n\nNew Chief Executive Officer and President\n\nOn March 15, 2023 (the “Effective Date”), Tom Y. Lee, the President, Chief Executive Officer and member of the Board of Directors (the “Board”) of Pure Bioscience, Inc. (the “Company”), resigned as the Company’s President and Chief Executive Officer, effective as of the Effective Date. Mr. Lee will continue to serve as a member of the Board.\n\nAdditionally, the Board appointed Robert Bartlett, a member of the Board, as the Company’s President and Chief Executive Officer, effective as of the Effective Date.\n\nMr. Lee said, “I’m happy to announce the appointment of Robert F. Bartlett as C...