JUPITER, Fla. - Safety Shot, Inc. (NASDAQ:SHOT), a wellness company, has announced a significant finding from its latest clinical study. The double-blind, randomized, placebo-controlled study showed that the company's rapid alcohol reducer can substantially increase aldehyde dehydrogenase levels, leading to a marked decrease in acetaldehyde, often associated with hangover symptoms after excessive alcohol consumption.
The product, which claims to lower blood alcohol content (BAC) by supporting its metabolism within 30 minutes, was observed to not only decrease BAC but also rapidly reduce acetaldehyde levels in the blood. This advancement suggests that the product can eliminate toxins related to alcohol consumption more quickly than the body can naturally.
David Sandler, the Chief Operating Officer and Co-Inventor at Safety Shot, emphasized the product's unique ability to alleviate the negative after-effects of heavy drinking. The company touts its patented formula and process as a new solution to combat these effects before they occur.
Safety Shot, Inc. has developed a range of products, including a 12oz drink, a 4oz shot, and a dry powder stick pack, all featuring the patented formula. These products are available for purchase online, and the company plans to expand business-to-business sales to distributors, retailers, restaurants, and bars throughout 2024.
While the press release includes forward-looking statements about Safety Shot's ability to develop and commercialize its product, it also acknowledges the inherent uncertainties and risks involved. The company has stated its commitment to further research and development to substantiate its claims.
The information reported is based on a press release statement from Safety Shot, Inc. and does not constitute an endorsement of the product's effectiveness. Safety Shot continues to navigate the regulatory landscape and address potential challenges such as product liability claims and compliance with laws and regulations.
In other recent news, Safety Shot, Inc. has had a series of notable developments. The company reported positive results from a clinical trial suggesting their dietary supplement can significantly reduce Blood Alcohol Content (BAC) in consumers. The wellness company recently expanded its distribution network through strategic partnerships with Atlantic Beverage Distributors, Prime CSB, and KeHE Distributors, thus enhancing its product reach in the Northeast and across the United States.
Safety Shot also announced a new equity incentive plan, approved by shareholders, which reserves 15,000,000 shares of common stock to incentivize key personnel. On the financial front, the company raised $5 million from Core 4 Capital Corp through a private placement, issuing 2,369,668 shares at a price of $2.11 each. In an additional show of confidence, Safety Shot's President, Jordan Schur, invested $1 million in the company through his family investment group, Core 4 Capital Corp.
However, Safety Shot ended its partnership with professional boxer Ryan Garcia due to a breach of the company's zero-tolerance policy towards discrimination and hate speech. The company continues to uphold its high standards for representatives. These are all recent developments for Safety Shot, Inc.
InvestingPro Insights
As Safety Shot, Inc. (NASDAQ:SHOT) makes headlines with its promising clinical study results, investors are keeping a close eye on the company's financial health and market performance. According to InvestingPro data, Safety Shot holds a market capitalization of $44.27 million, reflecting the size of the company in the current market landscape. Despite the excitement surrounding its product developments, the company's revenue for the last twelve months as of Q2 2024 stands at $1.03 million with a staggering growth rate of 128.94%, indicating a rapid increase in sales.
However, this growth comes with considerable challenges. Safety Shot has reported a gross profit margin of -203.58% for the same period, which highlights inefficiencies in the company's cost structure and its current inability to generate profits from its sales. This is further evidenced by the company's operating income, which shows a substantial loss of $33.0 million. Moreover, the stock has experienced significant volatility, with a 58.63% decline in price total return over the last six months.
InvestingPro Tips further reveal that Safety Shot is quickly burning through cash and suffers from weak gross profit margins. The company does not pay a dividend to shareholders, which may be a consideration for investors seeking income in addition to capital gains. On a positive note, Safety Shot holds more cash than debt, which could provide some financial flexibility as it continues to develop and market its products.
For investors interested in a more comprehensive analysis of Safety Shot, Inc., there are additional InvestingPro Tips available on the platform, which can provide deeper insights into the company's valuation, financial health, and market position. To explore these tips and gain a more nuanced understanding of Safety Shot's investment profile, visit https://www.investing.com/pro/SHOT.
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