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News Article | May 19, 2017
Site: www.marketwired.com

REDONDO BEACH, CA--(Marketwired - May 19, 2017) -  SECFilings.com, a leading financial news and information portal offering free real time public filing alerts, recently published an article discussing Innovus Pharmaceuticals' ( : INNV) recent financial results and the company's goals going forward. Innovus reported first quarter 2017 revenue of $2.2 million, which is a sharp increase from just $224,000 during the year ago period. On a sequential basis, the company's revenue increased $500,000 -- or 29% -- despite the first quarter traditionally being its weakest. Historically, Innovus Pharmaceuticals quarter per quarter revenues show a very slow first quarter ($224K in 2016), followed by a significant increase in second quarter ($1M or close to 4x increase) and a peak in revenues in its third quarter ($1.9M close to 2x increase) and a slower fourth quarter ($1.7M). On a linear flat growth basis, the company seems to be tracking to $8.8M in revenue for the year. But if we take into account their historical revenue patterns, the company may be able to reach and exceed its estimates for 2017. During a Q&A session on the earnings conference call, the company indicated that they expect to reach profitability upon hitting a $10 million revenue run rate, and considering past patterns (along with new product introductions and expanded distribution channels for existing products) that figure seems to be reachable this year. Gross margins improved to 79.8% from 46.7% a year ago, while cash used in operations decreased by $500,000 sequentially as the company moves closer to profitability. "We have not only seen an increase in our net revenue from the most recent fourth quarter 2016 but our operating loss and cash used in operations has improved as we work to achieve our goal of profitability," said Innovus Pharma President & CEO Bassam Damaj. "With the exciting news stemming from the commercial supply agreement we entered into with our new partner for FlutiCare™ in May 2017 and the recent completion of our registered public equity offering in March 2017, we believe we are well on our way to having the necessary resources to assist us in executing our goals of the expected launch of FlutiCare™ in the fourth quarter of 2017, the continued expansion of our product lines, and achieving profitability." Innovus Pharmaceuticals continues to build its portfolio of consumer products for men and women's health and respiratory diseases. On May 1, the company announced the launch of ProstaGorx™ in the United States -- a clinical strength, multi-response prostate supplement that is formulated to effectively maintain good prostate health and prevent future prostate issues. With multiple published clinical trials, the over-the-counter product has been shown to reduce prostate weight, regulate hormones, reduce nocturia, decrease PSA levels, and reduce the progression of prostate cancer. "ProstaGorx is an excellent complement to our fast growing UriVarx™ product for bladder health and is the sixth product to date to be launched using our acquired Beyond Human sales and marketing platform," said CEO Dr. Bassam Damaj in a recent press release. "We currently believe the product could generate an additional $2 million per year in revenue. This product launch moves us one step closer to achieving our 2017 revenue goals and profitability." The company's other products already on the market include the Beyond Human Testosterone Booster; Beyond Human Human Growth Agent; Zestra® for female arousal; EjectDelay™ for premature ejaculation; Sensum+® for reduced penile sensitivity; Zestra Glide®; Vesele® for promoting sexual and cognitive health; Androferti® to support male reproductive health; Beyond Human Vision Formula; Beyond Human Lean Green Coffee; and UriVarx™ for bladder health. Last year, these products generated $4.8 million in revenue, which is up from just $700,000 during FY 2015. The greatly increased gross margins signal growing pricing power and scalable operations. These gains were largely attributable to its Beyond Human marketing and distribution platform, which reaches between 20 million and 30 million customers on a monthly basis through print channels as well as over 2 million online subscribers to the platform's more than 140 websites. Innovus Pharmaceuticals has secured a growing number of patents, distribution agreements, and licensing arrangements around the world that protect its proprietary formulations and set the stage for future expansion into new markets. Innovus announced a partnership agreement with West-Ward Pharmaceuticals International on May 9, 2017 that will enable Innovus to launch FlutiCare™ under West-Ward's recently approved ANDA application No. 207957. Under the terms of the agreement, Innovus will be the first and only nationally branded over-the-counter product under the ANDA, and one of three nationally branded products with the same formulation. The company expects to generate upwards of $10 million in revenue in the first year from FlutiCare™, following the expected launch in the fourth quarter of 2017. On May 15, the company announced a significant partnership for its approved product Zestra® in Europe with Densmore for the commercialization of the product in France and Belgium. On May 18, the company announced that it filed a product license application in Canada for the commercialization of Vesele® as a natural health product to help improve the symptoms of sexual dysfunction. If accepted by Health Canada, the product will be available over-the-counter into 120 capsule bottles without a prescription and marketed through its Beyond Human sales platform that's currently being setup in Canada and indicated that if the product is approved by Health Canada it expects to add an additional $0.5-$1M in revenues from the sale of the product in Canada. The company made significant progress in FY 2016 in terms of expanding its reach, securing approval to commercialize Zestra® in the European Union, South Korea, and Lebanon. In addition, the company in-licensed Lertal® tablets for the United States and Canada under the brand name AllerVarx™ and launched Zestra® in the United States under its Beyond Human® sales and marketing platform to help grow the product to the next level. On March 27, the company announced that it received a Notice of Intention to Grant form the European Patent Office to issue a European-wide patent for its Sensum+® product. Shortly after, the company received a CPNP notification from the European Union to commercialize its Zestra Glide® product in all 28 member countries, which brings the total number of approved-to-market products to three - the others being Zestra® and Sensum+®. Please follow the link to read the full article: http://analysis.secfilings.com/articles/174-innovus-makes-strides-toward-goal-of-tripling-revenue-in-2017 Founded in 2004, SECFilings.com provides free real time filing alerts to over 600,000 registered members and offers services to help public companies grow their audience of interested investors. Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC, which owns SECFilings.com, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://secfilings.com/Disclaimer.aspx.


Jemec J.,University of Ljubljana | Pernus F.,University of Ljubljana | Pernus F.,Sensum Inc. | Likar B.,University of Ljubljana | And 2 more authors.
Optics Express | Year: 2014

In this paper, we propose a novel method for spectral and spatial calibration and resolution enhancement of hyperspectral images by a two-step procedure. The spectral and spatial variability of the hyperspectral imaging system response function is characterized by a global parametric model, which is derived from a pair of calibration images corresponding to an exactly defined calibration target and a set of gas-discharge lamps. A 2D Richardson-Lucy deconvolution-based algorithm is used to remove the distortions and enhance the resolution of subsequently acquired hyperspectral images. The results of the characterization and deconvolution process obtained by the proposed method are thoroughly evaluated by an independent set of exactly defined calibration and spectral targets, and compared to the existing state-of-the-art characterization method. The proposed method significantly improves the spectral and spatial coregistration and provides more than five-fold resolution enhancement in the spatial and two-fold resolution enhancement in the spectral domain. © 2014 Optical Society of America


Katrasnik J.,University of Ljubljana | Pernus F.,University of Ljubljana | Pernus F.,Sensum Inc. | Likar B.,University of Ljubljana | Likar B.,Sensum Inc.
Optics Express | Year: 2013

Near-infrared hyperspectral imaging is becoming a popular tool in various fields. In all imaging systems, proper illumination is crucial for attaining optimal image quality that is needed for the best performance of image analysis algorithms. In hyperspectral imaging, the acquired spectral signature has to be representative in all parts of the imaged object. Therefore, the whole object must be equally well illuminated-without shadows or specular reflections. As there are no restrictions imposed on the material and geometry of the object, the desired illumination of the object can only be achieved with completely diffuse illumination. In order to minimize shadows and specular reflections, the light illuminating the object must be spatially, angularly and spectrally uniform. The quality of illumination systems for hyperspectral imaging can therefore be assessed using spatial-intensity, spatial-spectral, angular-intensity and angular-spectral non-uniformity measures that are presented in this paper. Emphasis is given to the angular-intensity and angular-spectral non-uniformity measures, which are the most important contributions of this paper. The measures were defined on images of two reference targets-a flat, white diffuse reflectance target and a sphere grid target-acquired with an acousto-optic tunable filter (AOTF) based hyperspectral imaging system. The proposed measures were tested on a ring light and on a diffuse dome illumination system. © 2013 Optical Society of America.


Kosec M.,Sensum Inc. | Burmen M.,University of Ljubljana | Tomazevic D.,Sensum Inc. | Tomazevic D.,University of Ljubljana | And 4 more authors.
Optics Express | Year: 2013

A significant part of the uniformity degradation in the acquired hyperspectral images can be attributed to the coregistration distortions and spectrally and spatially dependent resolution arising from the misalignments and the operation principle of the spectrograph based hyperspectral imaging system. The aim of this study was the development and validation of a practical method for characterization of the geometric coregistration distortions and position dependent resolution. The proposed method is based on modeling the imaging system response to several affordable reference objects. The results of the characterization can be used for calibration of the acquired images or as a tool for assessment of the expected errors in various hyperspectral imaging systems. © 2013 Optical Society of America.


Burmen M.,University of Ljubljana | Pernus F.,University of Ljubljana | Pernus F.,Sensum Inc. | Likar B.,University of Ljubljana | Likar B.,Sensum Inc.
Applied Spectroscopy | Year: 2011

In this study, we propose and evaluate a method for spectral characterization of acousto-optic tunable filter (AOTF) hyperspectral imaging systems in the near-infrared (NIR) spectral region from 900 nm to 1700 nm. The proposed spectral characterization method is based on the SRM-2035 standard reference material, exhibiting distinct spectral features, which enables robust non-rigid matching of the acquired and reference spectra. The matching is performed by simultaneously optimizing the parameters of the AOTF tuning curve, spectral resolution, baseline, and multiplicative effects. In this way, the tuning curve (frequency-wavelength characteristics) and the corresponding spectral resolution of the AOTF hyperspectral imaging system can be characterized simultaneously. Also, the method enables simple spectral characterization of the entire imaging plane of hyperspectral imaging systems. The results indicate that the method is accurate and efficient and can easily be integrated with systems operating in diffuse reflection or transmission modes. Therefore, the proposed method is suitable for characterization, calibration, or validation of AOTF hyperspectral imaging systems. © 2011 Society for Applied Spectroscopy.


Markelj P.,University of Ljubljana | Likar B.,University of Ljubljana | Likar B.,Sensum Inc. | Pernus F.,University of Ljubljana
Medical Physics | Year: 2010

Purpose: A new image database with a reference-based standardized evaluation methodology for objective evaluation and comparison of three-dimensional/two-dimensional (3D/2D) registration methods has been introduced. Methods: Computed tomography (CT) images of a male and female from the Visible Human Project were used and 16 subvolumes, each containing one of vertebrae T3-T12 and L1-L5 and the pelvis, were defined from the CTs. Six pairs of 2D fluoroscopic x-ray images from different views, showing the thoracic, lumbar, and pelvic regions, were rendered from the CT data using a ray-casting algorithm with an energy conversion function. Furthermore, a single 13-gauge needle was analytically simulated and projected onto the 2D images. By the novel standardized evaluation methodology, a 3D/2D registration method is evaluated by four evaluation criteria: Accuracy, reliability, robustness, and algorithm complexity. Results: To demonstrate the usefulness of the proposed data set and the standardized evaluation methodology, a part of the data set was used in an evaluation study of two gradient-based 3D/2D registration methods. It was shown that the use of a failure criterion to calculate the registration accuracy and reliability is not required, since all the information about a registration method can be determined from the estimated distribution of registration errors. Conclusions: The proposed simulated image data set with quite realistic synthetic 2D images, depicting soft tissues and outliers, is especially suitable for preliminary testing of 3D/2D registration algorithms. Since the aim of this article is to provide objective comparison and unbiased evaluation of 3D/2D registration methods, the standardized evaluation methodology is available upon request from the authors. © 2010 American Association of Physicists in Medicine.


Markelj P.,University of Ljubljana | Tomazevic D.,University of Ljubljana | Tomazevic D.,Sensum Inc. | Likar B.,University of Ljubljana | And 2 more authors.
Medical Image Analysis | Year: 2012

Registration of pre- and intra-interventional data is one of the key technologies for image-guided radiation therapy, radiosurgery, minimally invasive surgery, endoscopy, and interventional radiology. In this paper, we survey those 3D/2D data registration methods that utilize 3D computer tomography or magnetic resonance images as the pre-interventional data and 2D X-ray projection images as the intra-interventional data. The 3D/2D registration methods are reviewed with respect to image modality, image dimensionality, registration basis, geometric transformation, user interaction, optimization procedure, subject, and object of registration. © 2010 Elsevier B.V.


Grant
Agency: GTR | Branch: Innovate UK | Program: | Phase: Smart - Development of Prototype | Award Amount: 107.90K | Year: 2013

Sensum’s audience insight system provides ad agencies, market research firms, and broadcast media with an innovative way to accurately measure customer response to media. Current market research relies on focus groups’ verbal or written responses to questions before and after viewing media. This qualitative approach relies on cognitive processes where post-facto responses are consciously formulated. These responses are prone to self-editing and test biases that skew or distort the data, including moderator bias where the presence of a moderator or the test environment itself influences responses. Recent research in neuroscience has suggested that up to 95 percent of our purchase decision making actually takes place in the subconscious mind. Strong brands, e.g., excite parts of the brain associated with pleasure and reward and trigger physiological reactions. As physiological responses are involuntary, instantaneous, and may be measured quantitatively, they provide a better measure of the level of engagement and emotional response to stimuli while avoiding conscious cognition test biases. To date, no existing cost-effective solution is available to market researchers to measure subconscious emotional response. Sensum’s neuromarketing platform addresses this need by providing an affordable, portable system that simultaneously measures subconscious and conscious cognitive responses. Realtime physiological response is measured via a low-cost, non-intrusive, wearable wireless sensor. Sensor data is captured, processed, and displayed on a mobile platform, such as a tablet, that incorporates an integrated e-survey tool that poses questions during the test. Both subconscious and conscious cognitive responses can be recorded, mapped, and compared, providing deep insight into how audiences truly respond to the media. This allows development of media that is both more engaging and cost effective, resulting in higher return on investment for advertisers


Sensum, the emotions-based software solutions company, today launches the next-generation of its Sensum Insights neuromarketing solution which now includes facial-recognition, eye-tracking & implicit testing technology to help brands build a 360 degree view of audience's emotional responses to content, experiences and products. Sensum Insights is the first self-service product available on the market to include all of these capabilities. Brands and agencies have instinctively known for some time that appealing to a person's emotions enables them to better sell a product, create great experiences and shape brand loyalty. But now science and technology such as Sensum Insights is helping to prove and make more of this. Instead of relying exclusively on traditional market research methods based on conscious questioning and surveys, which only provide a singular point of view, new research tools that weave in biometric responses allow brands to build a 360-degree real-time view of the consumer's emotional journey. Sensum Insights is the world's first web-based and mobile enabled self- service platform that allows organisations to combine data from traditional market research methods with non-conscious data from wearable devices & biometric sensors to help organisations understand and engage their  audiences in deeper, more personal, emotive and exciting ways. Shane Keats, Director of Industry Marketing, Media and Entertainment at leading content delivery network and cloud services provider Akamai Technologies, wanted to understand the relationship between video quality of experience (QoE) and viewer satisfaction. "Our customers are in the business of telling great stories that generate great feeling.  We asked Sensum to investigate how differing video quality made consumers feel rationally and emotionally, explicitly and implicitly. By using Sensum Insights we were able to see the emotional impact of low and high quality video content delivery, and the associated impacts on various business models." Sensum Insights is web-based so can be accessed by anyone with a connected device anywhere in the world. The interface is user-friendly and intuitive so simple for both those running research projects and participants taking part to use. Gawain Morrison, CEO & Co-Founder, Sensum adds: "The ability to build a truly personalised relationship with consumers is what enables brands to not just survive, but thrive.  We've specifically developed Sensum Insights to help marketers, creative agencies & researchers be able to do this in the most efficient, cost-effective and in-depth way possible. The platform brings together insights from multiple sources to build the clearest 360-degree picture of an audience's emotional response in real-time…which in today's cut-throat world is invaluable." For more information on Sensum Insights please visit http://www.sensum.co Sensum is a emotions-based software solutions company that helps organisations build the clearest 360-degree picture of an audience's emotional response to content, products or experiences. We bring together the art and science of emotions with our creative expertise and technology. Our online platform Sensum Insights gathers emotional responses from audiences and turns them into actionable insights to help brands hone their products, user experiences, content, retail and immersive experiences. We work with leading brands such as the BBC, Red Bull Media House, Unilever, Jaguar, Cisco and Publicis.

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