ViaDerma, Inc. Reports Strong Second Quarter Financial Results

LOS ANGELES, Oct. 3, 2024 (GLOBE NEWSWIRE) — ViaDerma, Inc. (OTC Pink: VDRM), an innovator in transdermal drug delivery and topical antibiotic products, announced its second quarter and six-month ended financial results announced June 30, 2024. The company achieved strong financial performance with notable revenue consistency, positive net income and a strong increase in cash reserves.

Financial highlights for the second quarter of 2024:

• Revenue: ViaDerma achieved consistent revenue of $300,191 in the first half of 2024 compared to $300,230 in the same period in 2023, demonstrating resiliency in its revenues despite challenging market conditions.
• Net Profit: The company recorded a net profit of $54,008 for the six-month period, a significant improvement from the net loss of $75,576 for the same period in 2023. This turnaround reflects a positive change in profitability, representing an increase of 171.5 % corresponds to earnings.
• Cash Reserves: Cash and cash equivalents increased to $826,175 as of June 30, 2024, a notable increase of 7,972% compared to $10,243 at the end of 2023. This growth is due to improved cash flow from operations and improved financial management .
• Liabilities: The Company reduced its total liabilities to $1,096,509 compared to $1,157,684 at the end of 2023, reflecting a 5.3% decrease in its debt load.

The recent sale of 1 million units of its tetracycline-based topical antibiotic to Nigeria is not reflected in the second quarter 2024 financial results. The first 500,000 units were delivered by the manufacturer in August 2024, with another 500,000 units scheduled for October 2024. Revenue from August delivery will appear in the next quarterly report.

The report also highlighted ViaDerma’s continued progress in operations, particularly with its flagship product Vitastem, an FDA registered topical antibiotic that has gained significant traction in the market. This product continues to receive strong customer acceptance and positive clinical results, contributing to a steady revenue stream for the company.

ViaDerma expands its product pipeline with innovations in anti-aging skin care, pain management, hair loss treatments, Sexual wellness products and a CBD-based product that targets inflammation and conditions such as nicotine addiction, fibromyalgia and multiple sclerosis. The company is also strengthening its market presence by introducing a wholesale distribution model to increase sales and expand product availability in new regions Exploring joint ventures with established pharmaceutical companies.

“We are pleased with our strong Q2 results, which we believe represent the beginning of what we expect will result in significantly higher growth for our business,” said Dr. Christopher Otiko, President and CEO of ViaDerma.

About ViaDerma, Inc.
ViaDerma, Inc. (OTC Pink: VDRM) is a publicly traded specialty pharmaceutical company committed to bringing new products to market and licensing its innovative transdermal drug delivery technology solutions to current pharmaceutical industry leaders in a variety of therapeutic areas. Further information can be found at:

Any projection of future performance is a “forward-looking statement” within the meaning of the securities laws. Such statements are included to provide potential investors with an opportunity to understand management’s beliefs and opinions regarding the future so that they may use such beliefs and opinions as one of many factors in evaluating an investment.

Contact information:
Investor relations
Email: [email protected]
Phone: 310-734-6111