Ainos Reports Unaudited Third Quarter 2022 Financial Outcomes

Earnings increased by 384% year over year

Financial obligation ratio reduced to 7% from 75% at year-end 2021

SAN DIEGO, Nov. 7, 2022/ PRNewswire/– Ainos, Inc. (NASDAQ: AIMD, AIMDW) (” Ainos”, or the “Business”), a varied medtech business concentrated on the advancement of unique point-of-care screening, low-dose interferon therapies, and artificial RNA-driven preventative medication, today revealed its unaudited monetary outcomes for the 3rd quarter ended September 30, 2022

3rd Quarter 2022 Financial Emphasizes

• Earnings were US$ 1,757,774 in the 3rd quarter of 2022, up 384.2% year over year.

• Gross earnings was US$ 581,742, up 124% year over year, representing a gross margin of 33.1% in the 3rd quarter of 2022.

Chun-Hsien Tsai, Chairman of the Board, President, and Ceo of Ainos, commented, “We as soon as again provided robust year-over-year earnings development and continued to establish and advance the money making of our ingenious item pipeline. Looking ahead, we are recalibrating our R&D efforts to concentrate on the advancement and commercialization of our essential VOC POCT and VELDONA ® innovations. Throughout the quarter, VELDONA ®, our extremely low-dose oral interferon alpha formula, revealed its antiviral effectiveness in a hamster research study, and is on track to start Stage 2 scientific trials in Taiwan We are likewise pursuing out-licensing for 5 Stage 2 VELONDA ® prospects, with the objective of accelerating them to Stage 3 trials and commercialization. Our non-invasive and telehealth-friendly VOC POCT item pipeline provides options to big and broadening markets such as STI screening and females’s health. Our Ainos Plants item, which enables users to quickly and inconspicuously test for vaginal infections and specific STIs in simply minutes, is presently going through scientific research studies in Taiwan In concerns to our existing line of product, we will expand circulation and broaden sales channels for our COVID antigen test sets in Taiwan, while increase sales to our existing client base. Moving forward, we will even more enhance our money making abilities and provide long-lasting sustainable worth for our investors.”

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Hui-Lan Wu, Chief Financial Officer of Ainos, commented, “Year-over-year top-line development of 384.2% was driven by strong sales of our COVID19 Antigen Self-Test Kits throughout the 3rd quarter. Throughout the quarter, in addition to providing strong topline development, we lowered our financial obligation and enhanced our balance sheet following the conversion of our convertible notes and earnings from our public offering. As an outcome of these efforts, our financial obligation ratio now stands at simply 6.8%, below 75% at year-end 2021. We will continue to increase our COVID antigen test service in Taiwan as we even more establish and advertise our item pipeline as set up.”

3rd Quarter 2022 Financial Outcomes

Earnings

Earnings increased by 384.2% to US$ 1,757,774 in the 3rd quarter of 2022 from US$ 363,052 in the very same duration of 2021, driven by increased sales of the Business’s COVID-19 Antigen Self-Test Kits in Taiwan A boost in the variety of COVID-19 cases in Taiwan and increased approval of our extremely precise self-test set added to the strong efficiency.

Expense of Earnings

Expense of earnings was US$ 1,176,032 in the 3rd quarter of 2022, compared to US$ 103,638 in the very same duration of 2021. Such boost followed the matching boost in sales volume, as the Business delivered more of its COVID-19 Antigen Self-Test Kits.

Gross Revenue

In the 3rd quarter of 2022, gross earnings was US$ 581,742, representing a 33.1% gross margin, compared to US$ 259,414, or a 71.5% gross margin a year back. The decrease in gross margin was driven by a shift in the Business’s earnings mix. To line up with Taiwan’s infection control policy, we created more earnings from the COVID-19 Antigen Self-Test Package in the 3rd quarter. In contrast, most of our earnings throughout the equivalent duration had actually been created from sales of our COVID-19 Quick Test Package for usage by health care specialists. The self-test set represented all our service in the 3rd quarter, compared to 7% in the previous quarter.

Overall Operating Costs

Overall operating costs increased to US$ 8,404,013 in the 3rd quarter of 2022 from US$ 1,442,756 in the very same duration of 2021. The boost was primarily attributable to devaluation and amortization expenditures and share-based payment. Business expenses omitting devaluation and amortization expenditures and share-based payment stayed reasonably flat, reaching US$ 1,118,205 in the 3rd quarter of 2022 as compared to US$ 759,589 a year back.

• R&D expenditures increased to US$ 1,834,786 in the 3rd quarter of 2022 from US$ 646,798 a year back. When omitting devaluation and amortization expenditures, R&D expenditures increased to US$ 628,367 from US$ 401,526 over the very same duration.

• SG&A costs increased to US$ 6,569,227 from US$ 795,958 over the very same duration. When omitting devaluation and amortization expenditures and share-based payment, SG&A costs increased to US$ 489,838 from US$ 358,063 over the very same duration.

Bottom Line

Bottom line attributable to typical stock investors was US$ 7,821,756 in the 3rd quarter of 2022, compared to US$ 1,160,110 in the very same duration of 2021.

Balance Sheet

Since September 30, 2022, the Business had money and money equivalents of US$ 2,417,147 compared to US$ 1,751,499 since December 31, 2021

Current Advancements

On August 15, 2022, the Business revealed that it had actually signed a Master Service Arrangement with Swiss Pharmaceutical Co., Ltd. ( Taiwan) (” Swiss Pharma”). According to the contract, Swiss Pharma will check, produce, and package the Business’s VELDONA ® “GMP Scientific Batch” and “GMP Commercial Batch” item prospects for the Business’s prepared scientific trials under both Pharmaceutical Evaluation Co-operation Plan Good Production Practice and U.S. Food & & Drug Administration Existing Great Production Practice policies.

On August 24, 2022, the Business revealed that it had actually sent an Investigational New Drug application to the U.S. Fda for performing a Stage 2 trial of its low-dose oral interferon alpha formula, VELDONA ®, for treatment of moderate signs associated with COVID-19.

On September 30, 2022, the Business revealed the arise from its antiviral effectiveness research study in hamsters versus the Omicron variation of SARS-CoV-2. The Business’s outcomes revealed that its low-dose oral interferon alpha formula, VELDONA ®, had a healing result on lungs contaminated with the SARS-CoV-2 infection by managing the immune reaction, therefore speeding up healing of contaminated animals. The Business has actually sent the application files for U.S. FDA Stage 2 scientific trials for assessing the effectiveness of VELDONA ® in clients with moderate COVID-19.

On October 31, 2022, the Business revealed that it is pursuing out-licensing chances for 5 brand-new drug prospects for its low-dose oral interferon-alpha formula, VELDONA ®. Ainos has actually finished Stage 2 trials for the 5 brand-new drug prospects and will deal with possible partners to speed up the prospects to Stage 3 trials and ultimate commercialization of VELDONA ®.

About Ainos, Inc.

Headquartered in San Diego, California, Ainos, Inc. (f/k/a Amarillo Biosciences, Inc.) is a varied medtech business participated in establishing ingenious medical innovations for point-of-care screening and safe and unique medical treatment for a broad variety of illness signs. In addition to its exclusive therapies utilizing low-dose non-injectable interferon, Ainos is devoted to establishing a detailed health care service portfolio including medical gadgets and customer health care items. While focusing on the commercialization of medical gadgets as part of its diversity method, Ainos has actually likewise broadened its item portfolio to consist of Volatile Organic Substances (VOC) and COVID-19 POCTs. Leveraging its patents associated with VOC innovations and 3 released patents for COVID-19 POCT items, the Business looks for to speed up the commercialization of its medical gadget pipeline, starting with Ainos-branded COVID-19 POCT item prospects.

Positive Declarations

This news release consists of ‘positive declarations’ within the significance of the safe harbor arrangements of the U.S. Personal Securities Lawsuits Reform Act of 1995. Positive declarations can be determined by words such as “prepare for,” “think,” “quote,” “anticipate,” “plan,” “strategy,” “anticipate,” “job,” ‘target,” “future,” “look for,” “likely,” “method,” “may,” “should,” “will,” and comparable referrals to future durations. Positive declarations are based just on our existing beliefs, expectations, and presumptions. Positive declarations go through fundamental unpredictabilities, dangers, and modifications in scenarios that are hard to anticipate and a number of which are beyond our control. Our real outcomes might vary materially from those suggested in the positive declarations.

Essential elements that might trigger our real outcomes to vary materially from those suggested in the positive declarations consist of, to name a few, the following: the expense of production and sales capacity of the prepared drug treatments revealed in this news release; the effect of last approvals from the U.S. Fda (the “FDA”) or other regulative bodies for the prepared drug treatments consisting of the schedule of emergency situation usage permission; the Business’s restricted money and history of losses; the Business’s capability to attain success; extreme competitors and quickly advancing innovation in the Business’s market that might exceed its innovation; client need for the services and products the Business establishes; the effect of competitive or alternative items, innovations and prices; the Business’s capability to produce any items it establishes; basic financial conditions and occasions and the effect they might have on the Business and its possible clients, consisting of however not restricted to the effect of Covid-19; the Business’s capability to acquire sufficient funding in the future; the effect of promulgation and application of policies by the World Health Company, the FDA and by other governmental authorities with functions comparable to those of the FDA on the Business’s operations and innovations; suits and other claims by 3rd parties or examinations by numerous regulative firms governing the Business’s operations; the Business’s capability to protect regulative approvals for its items; and our success in handling the dangers associated with the foregoing products. Readers ought to likewise evaluate the dangers and unpredictabilities noted in our Yearly Report on Kind 10-K for the year ended December 31, 2021 and other reports we submit with the U.S. Securities and Exchange Commission.

Any positive declaration made by us in this news release speaks just since the date on which such declaration is made. We carry out no commitment to openly upgrade any positive declaration, whether composed or oral, that might be made from time to time, whether as an outcome of brand-new info, future advancements or otherwise.

Financier Relations Contact
ICR, LLC
Robin Yang
Tel: +1 646-224-6971
Email: [email protected]

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SOURCE Ainos, Inc.