JUPITER, Fla. - Safety Shot, Inc. (NASDAQ:SHOT), a wellness company, has received a Notice of Allowance for a U.S. patent for its latest formula designed to rapidly reduce blood alcohol content (BAC). This development, announced today, represents a significant addition to the company's portfolio of patented products that support alcohol metabolism.
The newly patented formula is clinically backed and is claimed to lower BAC in as little as 30 minutes, improving cognitive ability and reducing impairment. Safety Shot COO and co-owner of the patent, David Sandler, emphasized the company's position as a pioneer in a new product category aimed at addressing alcohol-related problems.
The patent distinguishes Safety Shot's intellectual property (IP), reinforcing its unique market proposition. CEO and patent co-owner, Jarret Boon, highlighted the patent's role in enforcing the company's claims and supporting its clinical findings.
Safety Shot's product, which is marketed as the first of its kind to support alcohol metabolism, is available for purchase online and the company is expanding its business-to-business sales throughout 2024. The team at Safety Shot is focused on advancing their science through ongoing research and development.
While the press release contains forward-looking statements regarding the company's future operations and market potential, these are subject to risks and uncertainties. The company's filings with the Securities and Exchange Commission, including its most recent Form 10-Q, provide further details on potential risk factors.
The information in this article is based on a press release statement from Safety Shot, Inc.
In other recent news, wellness and dietary supplement company Safety Shot, Inc. has made notable strides in financial investments, product development, and business expansion. The company recently secured a private placement investment of $3.4 million from President Jordan Schur through Core 4 Capital Corp. This investment is part of a series of funding initiatives totaling $9.4 million this year.
Safety Shot's clinical study demonstrated the product's efficacy in reducing blood alcohol content and alleviating hangover symptoms. The wellness company has also expanded its product range and secured partnerships with Atlantic Beverage Distributors, Prime CSB, and KeHE Distributors, enhancing its product reach across the United States.
The company has adopted a new equity incentive plan, approved by shareholders, which reserves 15,000,000 shares of common stock for key personnel. 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. These are the recent developments for Safety Shot, Inc.
InvestingPro Insights
As Safety Shot, Inc. (NASDAQ:SHOT) continues to innovate in the wellness space with its newly patented formula to combat alcohol impairment, the company's financial health and market performance provide a broader context for investors. According to recent data from InvestingPro, Safety Shot holds a market capitalization of $50.28 million, indicating its size within the market. Despite facing challenges such as weak gross profit margins, with a gross profit of -$2.09 million and a margin of -203.58% for the last twelve months as of Q2 2024, the company's sales growth paints a more optimistic picture.
InvestingPro Tips highlight that analysts anticipate sales growth in the current year for Safety Shot, and this is supported by a staggering revenue growth of 2947.59% on a quarterly basis as of Q2 2024. While the company does not pay dividends, which may deter income-focused investors, the price of Safety Shot's stock has seen a strong return over the last month, increasing by 35.54%. This could attract traders looking for short-term gains in volatile market conditions.
However, investors should note that Safety Shot's stock price movements have been quite volatile, and the stock has taken a significant hit over the last six months, with a price total return of -50.68%. The company's valuation also implies a poor free cash flow yield, which could be a concern for those focused on the company's ability to generate cash. With these financial metrics and market performance in mind, potential investors can access a total of 14 InvestingPro Tips for Safety Shot, Inc. on the InvestingPro platform to help inform their investment decisions.
For a more nuanced understanding of Safety Shot's financial health and future prospects, investors can visit https://www.investing.com/pro/SHOT, which provides additional insights and real-time data to support informed investment choices.
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