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Tag: MDVL stock

  • Stock Corrections: MedAvail Holdings Inc. (MDVL) Down After Hours. Why?

    Stock Corrections: MedAvail Holdings Inc. (MDVL) Down After Hours. Why?

    On Friday, certain new developments regarding the technology-enabled pharmacy company, MedAvail Holdings Inc. (MDVL) came to light. The company announced inducement grant awards to its newly-hired employees.

    Source: Hire an esquire

    Thus, the stock witnessed an upswing of over 39% at its closing price of $1.96 per share in the regular session. Consequently, this upsurge was then followed by corrections as the stock subtracted a value of 7.65% in the after-hours to reach a value of $1.81 per share.

    MDVL’s Inducement Grants

    As declared in its SEC filings and announcement, MDVL’s board’s compensation committee has approved inducement grants for its new employees. Further, the new employees include Steven Hess (Exec VP/ GM, SpotRx), Matthew Broome (Exec VP/ GM, Technology), Robert McClune (Senior VP, Data & Analytics), and Craig Holtgrave (Senior VP, Sales & Marketing).

    A total of 853,000 shares of the company’s stock were awarded in form of inducement stock options to the employees. Furthermore, the stock options granted under Nasdaq rules have an exercise price of $1.96 per share. The details of the stock options are as follows:

    • Stock options of 131,000 common stock shares and RSUs settleable in 131,000 shares, to Mr. Hess and Mr. Broome.
    • Stock options of 82,250 common stock shares and RSUs covering 82,250 shares, to Mr. McClune and Mr. Holtgrave.

    Market Overview

    The pharmaceutical industry is going through rapid changes. With much scope for expansion and growth, the pharmacy industry is increasingly becoming dependent on technology. The reason for the pharmaceutical market’s shift towards technology is the inevitable digitalization and technological development. But, the outbreak of Covid-19 acted as a catalyst for this shift, and now the market is heavily invested in being technological.

    Additionally, artificial intelligence in the healthcare market alone is expected to reach $31.3 billion mark by 2025.

    Where Does MDVL Stand?

    As the industry becomes more and more technologically developed, MDVL is one of the pharmaceutical companies that are more technology-enabled. From the availability of a self-service pharmacy to a mobile application, kiosk, and drive-thru solution, MDVL has it all.

    Having significantly strengthened its leadership team with many changes and new additions, the company is looking forward to over $8.8 million in revenue for Q1 2022.

    Conclusion

    In conclusion, remaining largely bullish throughout 2022 so far, MDVL stock has been on a roller-coaster ride of gains followed by profit booking and corrections. The latest gains stem from inducement grants awarded to new employees in form of stock options. Following this, the stock once again fell under corrections.

  • New Developments: MedAvail Holdings Inc. (MDVL) stock Boosts Further After Hours

    New Developments: MedAvail Holdings Inc. (MDVL) stock Boosts Further After Hours

    On January 11, MedAvail Holdings Inc. (MDVL) announced changes to its executive management and board of directors. Along with this, the company also disclosed its preliminary financial results for Q4 and full-year 2021. Consequently, the stock gained further to reach $1.40 in the after hours.

    During regular trading, MDVL added a slight 0.81% at its closing price of $1.25 with 110.38K shares exchanging. Following the announcement, the stock gained a further 12.00% in the after-hours on Tuesday.

    MDVL’s Board and Management Changes

    As per the announcement, Mark Doerr, RPH, has been appointed as the new CEO and director of the company, effective January 10, 2022. Moreover, MDVL’s previous CEO, Ed Kilroy retired from the role as well as from the board of directors. Further, Ed Kilroy will move into an advisory role through March 31, 2022.

    Added to this, some changes to the company’s board of directors were also made. Gerard van Hamel Platernik, who has served on the company’s board since June 2012, stepped down as chairperson of the board. Ron Faulkner is his successor who is currently a director on the board. Furthermore, Laurie McGraw and Paul Johnson have been appointed to the board of directors. All these changes became effective on January 10, 2022.

    Preliminary Revenue Q4 and FY2021

    In addition to the management and board changes, MDVL also announced its preliminary revenue summary for the Q4 and full-year 2021.

    According to this, the company expects net sales between $6.9 million and $7.2 million in the fourth quarter of 2021. This shows a huge increase of over 123% against Q4 2020s $3.1 million.

    MDVL expects the full year 2021, net sales between $21.7 million and $22.0 million, marking 55% year over year growth. Comparatively, the net sales were $14.0 million in full-year 2020. If the non-recurring benefit of $4.7 million is excluded from the 2020 net sales, the year-over-year increase reached over 133%.

    MDVL’s Partnership Expansion

    On January 05, the company announced the significant expansion of its partnership with IMA Medical Group. IMA Medical Group provides high-quality primary medical and wellness services to seniors.

    According to the expansion plans, the company intends to open 17 SpotRx locations throughout central Florida. Deployment to these locations is expected to complete in early 2022. The SpotRx Pharmacy is MDVL’s Unites States-based retail pharmacy brand for deploying and operating MedAvail MedCenters.