PURE Bioscience (OTC:PURE) Stock Soars 20%: Here is Why
This morning the PURE Bioscience (OTC:PURE) stock could be the one to track after it clocked gains of 20% on Wednesday following a major new development.
The Rally Trigger
The company announced yesterday that it had gone into an agreement spanning multiple years with Zee Company. As per the agreement, Zee Company would be responsible for the sales and purchase of the company’s patented antimicrobial offerings.
In the news release, it was also noted that the agreement would enable PURE to sell its SDC product offerings to not only Zee Company but also its clients under some special conditions. PURE produces its products through its SDC (Silver Dihydrogen Citrate) technology.
The Agreement
The SDC technology from the company allows it to deliver fresh solutions to the food and beverage industry. Through the agreement, PURE Bioscience teamed up with an industry leader in the form of Zee, who would be able to market the product to its clients spread across North America.
The Technology
SDC technology helps in killing microorganisms through two distinct modes of action. The dual modes of action make the technology highly potent against a wide range of microbes. More importantly, the traditional silver-based disinfectants have a short shelf life, ranging from a few hours to some days. However, SDC offers a solution with a shelf life of many years.
Key Quote
“PURE’s SDC products are a perfect fit for Zee Company and the customers they service,” PURE’s Vice President of Sales Tim Steffensmeier said. “With our SDC technology, PURE provides new solutions to the food and beverage industry, and we are excited to partner with an industry leader as we share the path in bringing these new solutions to their customers throughout North America.”
Fundamentals
| P/E Ratio | -2.3800 |
| PEG Ratio | 4.63 |
| Price to Book | -4.01 |
| Price to Cash Flow | – |
| Price to Free Cash Flow | – |
| Total Sales (TTM) | 2.09 M |
| Revenue per Share (TTM) | 0.02 |
| Shares Outstanding | 111.856 M |
| Share Float (%) | 66.61 M (59.55%) |
| % Held by Institutions | 0.72 |