FREEHOLD, N.J. - Avalon GloboCare Corp. (NASDAQ: ALBT), a biotechnology company specializing in cell-based technologies and diagnostics, announced today the U.S. launch of its KetoAir™ breathalyzer, a device aimed at ketogenic health management. This launch coincides with the Hack Your Health by KetoCon 2024 Conference scheduled from May 31 to June 2, 2024, in Austin, Texas.
The KetoAir™ breathalyzer, which is FDA-registered (registration number: 3026284320), integrates nano-sensor technology and AI algorithms to monitor users' ketosis state and provide personalized dietary and exercise recommendations through its companion app. The app is available for download on both the Apple (NASDAQ:AAPL) App Store and Google (NASDAQ:GOOGL) Play Store.
David Jin, M.D., Ph.D., President and CEO of Avalon GloboCare, shared the company's strategy to target the diabetes reversal and obesity markets, emphasizing the product's potential in facilitating self-management for these health issues. The breathalyzer is touted to offer a non-invasive, precise daily test for ketosis monitoring, which Avalon GloboCare believes will be competitively advantageous.
The KetoAir™ breathalyzer operates on a "Blow to Know" principle, designed to deliver immediate results with a single breath, allowing users to see how various foods and activities affect their ketone levels.
Avalon GloboCare, headquartered in Freehold, New Jersey, is known for its work in cellular therapeutics, precision diagnostics, and clinical laboratory services. The company also provides strategic advisory and outsourcing services to enhance its clients' growth and development in the healthcare and CellTech industries.
This news is based on a press release statement.
InvestingPro Insights
Avalon GloboCare Corp. (NASDAQ: ALBT), while making strides in the biotechnology sector with the launch of its KetoAir™ breathalyzer, faces significant financial challenges as reflected in the company's recent performance metrics. According to InvestingPro data, the company's market capitalization stands at a modest $3.36 million USD, indicative of its small-cap status in the volatile biotech industry.
The financial health of Avalon GloboCare is a concern, with a negative P/E ratio (adjusted) of -0.2 for the last twelve months as of Q4 2023, signaling that the company has not been profitable over this period. This is further underscored by a substantial revenue decline of 730.52% during the same timeframe. Moreover, the stock's price performance has been underwhelming, with a year-to-date total return of -36.75%, reflecting investor skepticism about the company's near-term prospects.
InvestingPro Tips for ALBT highlight the stock's high price volatility and note that its short-term obligations exceed liquid assets, which could pose liquidity risks. Additionally, the stock has experienced a significant price drop over the last year and does not pay a dividend, potentially limiting its appeal to income-focused investors. For those interested in a deeper analysis, there are 9 additional InvestingPro Tips available, which can provide further insights into Avalon GloboCare's financial health and stock performance. Access these tips and more detailed metrics at https://www.investing.com/pro/ALBT and use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription.
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