Divine Skin onto a record-breaker thanks to a busy quarter
For the third quarter, the biotechnology company posted revenue of $2.1m, up 35 percent from 2010. The company also reported nine-month revenue of $6.6m, up 74 percent from last year.
"We are on track for another record-breaking year," said Divine Skin CEO Daniel Khesin. "These days, there are so many opportunities to commercialize new scientific discoveries, and we are taking full advantage. We couldn't be in a better position right now."
The quarter was littered with announcements for the company as it entered the hair-growth market by partnering with Ranbaxy Laboratories, before debuting its Nanoxidil molecule designed to stimulate follicles of the scalp.
In September Divine Skin also launched its first topical treatment to incorporate astressin-B, a complex peptide newly discovered to regrow hair on bald mice, synthesizing the peptide for human use in cosmetic products.
