Boston, MA, 03/19/2014 – Oculus Innovative Sciences, Inc. (NASDAQ:OCLS) manages to remain in the news for the right reasons. The stock of the company continues its northward rise after reports that the company may launch some products in the U.S.
Oculus Innovative Sciences, Inc. (NASDAQ:OCLS) appointed Russell Harrison to its board of directors. It is now estimated that the company will report loss of $0.19 per share in the first quarter of 2014 on revenues of $3.4 million. Revenues for the full year 2014 are expected to be $14.2 million with loss of $0.51 per share. The position is expected to improve further in 2015. The company is expected to see revenues of $15.2 million and loss of $0.48 per share. Oculus Innovative Sciences designs and markets innovative prescription and non-prescription products based on Microcyn platform in 31 countries across the globe. The products are used to treat patients in surgical and advanced wound management. Russell’s expertise in strategic management is expected to help the company during this critical growth phase.
Scar Management Product:
Oculus Innovative Sciences, Inc. (NASDAQ:OCLS) has received a 510(k) clearance from FDA for the company’s new Microsyn Scar Management Hydogel. The company’s dermatology partner in the U.S., Quinnova Pharmaceuticals is expected to commercialize the product in the first half of 2014. The company is also working with its other international partners and distributors for an international launch. The scar management market is very big in the U.S. it is estimated that 62 million scars are formed in the U.S. alone every year. There are also more than 600,000 visits for burns and 2.6 million emergency room visits for cuts. The market potential for such a product are enormous. Out of 6.2 million reconstructive procedures performed every year, 250,000 surgeries are related to scars alone. The world wide market is also very huge and the company can leverage its presence in these markets.