MT. KISCO, N.Y., Oct. 01, 2015 (GLOBE NEWSWIRE) -- ImmuDyne, Inc. (OTCQB:IMMD) ImmuDyne today announced nine month revenues grew to $844,268 in 2015 from $554,509 in 2014. Revenues for the 3rd quarter rose 40%, year over year, to approximately $279,000. As previously reported, ImmuDyne is capitalizing on its strong Intellectual Property and is pursuing additional sales and marketing opportunities, while continuing strong expense controls.
ImmuDyne President and CEO, Mark McLaughlin commented, “ImmuDyne is now approaching positive cash flow and earnings, and the Company continues to execute on new sales opportunities. With about 30 million shares outstanding and no material debt, any incremental sales growth will be meaningful to the bottom line.”
ImmuDyne Chief Medical Officer Sven Rohmann M.D., PhD, M.B.A. stated, “In addition to the improved sales reported thus far in 2015, there are significant new market opportunities for our proprietary oral and topical delivery technology. We expect to report on the first application very soon.”
As a frame of reference, ImmuDyne reported previously that Dr. Rohmann spent 10 years at Merck Serono and has an excellent track record across scientific, clinical, and commercial markets. During his tenure at Merck, Sven was instrumental in the successful licensing of Erbitux from ImClone, which has grown to over $1 billion in annual revenues. Sven also played an integral role in the establishment of Merck Oncology.
ImmuDyne, its management team, Mr. McLaughlin, Dr. Rohmann, Chairman Anthony Bruzzese, M.D., and directors Joseph DiTrolio, M.D., John Strawn, Esq., as well as significant shareholder, Dr. Lane Deyoe, have purchased additional shares of the company’s common stock in open market transactions, as reflected in the Company’s 10K, and may do so in the future.
ImmuDyne has developed proprietary topical and oral delivery technologies, with several new market opportunities. The Company also manufactures and sells yeast beta-1,3/1,6 glucan for oral and topical uses. All of ImmuDyne’s Intellectual Property is protected by patents and/or trade secrets.
ImmuDyne has offices located in Mt. Kisco, NY, Tampa, FL, and Florence, KY.
Additional information can be found on the web at www.immudyne.com
Cautionary language regarding Forward-Looking Statements Safe Harbor Act Disclaimer: Forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Certain statements in this press release may contain words such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "projects," "plans," "targets" and other similar language and are considered forward-looking statements. These statements are based on management's current expectations, estimates, and forecasts. These forward-looking statements are subject to important assumptions, risks and uncertainties, which are difficult to predict and therefore the actual results may be materially different from those discussed.
CONTACT: ImmuDyne, Inc. Mark McLaughlin: +1-914-714-8901 MarkMcL@immudyne.com