**PURE Bioscience Reports Fiscal 2024 Financial Results**

by · The Cerbat Gem

On October 29, 2024, PURE Bioscience, Inc. (OTCMKTS: PURE) released its financial report for the fiscal year ending on July 31, 2024, along with a business update.

In a summary of the results, the company reported net product sales of $1,955,000 for the fiscal year 2024, showing an increase compared to the $1,871,000 reported in the previous year. The net loss for 2024 was $3.4 million, an improvement from the $3.9 million loss in 2023. Excluding share-based compensation, the net loss for 2024 was $3.1 million, compared to $3.6 million for the prior fiscal year. The net loss per share for 2024 was reported at ($0.03), a decrease from ($0.04) in 2023. Net cash used in operations for 2024 amounted to $2.5 million, reflecting an improvement over the $3.3 million used in the prior year.

During the second quarter of fiscal 2024, PURE Bioscience strategically shifted its business approach by focusing on a distribution model. The company accelerated its partnership with several key distributors to expand service offerings across various regions in the United States. PURE’s partnership strategy with distributors aims to enhance customer-first approaches and service expansion, particularly in the food and beverage sector. This move is part of a broader effort to introduce new application methods and products to improve operations and cater to the needs of food producers and consumers.

Robert Bartlett, Chief Executive Officer of PURE Bioscience, expressed enthusiasm about the company’s evolution. Bartlett highlighted the benefits of the expanded distribution model in reaching a wider audience with the company’s SDC technology. Through collaborations with distributors, PURE intends to address food safety challenges effectively and efficiently. The company is actively exploring further distributor partnerships and is working on innovative solutions in collaboration with industry leaders and scientists.

PURE Bioscience, Inc., known for its innovative technology and non-toxic antimicrobial solutions, focuses on developing products that meet high safety standards. The company’s platform technology is based on patented stabilized ionic silver, with its proprietary antimicrobial products being primarily utilized in the food and beverage industry.

The company reported a dynamic financial position with current assets totaling $805,000 as of July 31, 2024, and total assets at $818,000 for the same period. PURE Bioscience disclosed its fiscal results, operations, and future plans in compliance with regulatory filing requirements. Shareholders and industry analysts can access the complete financial statements and disclosures through the Securities and Exchange Commission.

In conclusion, PURE Bioscience’s strategic shift towards a distribution model and focus on innovation and collaboration positions the company for potential growth and market expansion in the coming periods. Further updates on PURE Bioscience’s advancements and initiatives are anticipated as it continues to navigate the evolving landscape of the antimicrobial industry.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read PURE Bioscience’s 8K filing here.

About PURE Bioscience

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PURE Bioscience, Inc develops and commercializes antimicrobial products that provide solutions to the health and environmental challenges of pathogen and hygienic control in the United States and internationally. The company manufactures and distributes silver dihydrogen citrate (SDC), a non-toxic antimicrobial agent, which offers residual protection, as well as formulates with other compounds.

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