ALR Technologies Announces Sales
Guidance for Q4 2022, Q1 2023, and Completion of the GluCurve Pet
CGM Manufacturing Agreement
Singapore,
Singapore -- December 27, 2022 -- InvestorsHub NewsWire -- ALR
Technologies SG Ltd. ("ALRT") (OTCQB:ALRTF), the diabetes management company,
today announced the completion of a long-term manufacturing and
supply agreement with Infinovo Medical Co. Ltd ("Infinovo") for the
Continuous Glucose Monitor (CGM) hardware used in the GluCurve Pet
CGM. The agreement gives ALRT the exclusive global rights to
distribute the CGM hardware in the animal health market.
Additionally, the
Company announces it anticipates December and fourth quarter of
2022 sales to be in the range of $145,000 and $155,000. The Company
expects Q1 2023 sales to be in the range of $450,000 to $600,000
with the possibility of an adjustment upwards subject to increased
production capacity.
"December reflects
a turning point for ALRT as we look to close out the fiscal year
with our first quarter of meaningful sales, along with an
attractive gross profit," said Sidney Chan, Chairman and CEO of
ALRT. "We will be exhibiting the GluCurve Pet CGM at CES January
5th-8th and VMX
(Veterinary Meeting and Expo) January 14th-18th which should
bolster awareness around the Company and GluCurve. The number of
available units will increase quarter over quarter throughout 2023
resulting in a significant rise in sales as it will enable our
distribution partner, Covetrus, to launch GluCurve throughout the
US, EU, and other key markets."
About ALR Technologies SG Ltd.
ALRT is a data
management company that developed the ALRT Diabetes Solution, a
comprehensive approach to diabetes care that includes an
FDA-cleared and HIPAA compliant diabetes management system that
collects data directly from blood glucose meters and continuous
glucose monitoring devices, and a patent pending Predictive A1C
algorithm to track treatment success between lab reports and an
FDA-cleared Insulin Dosing Adjustment program. The overall goal is
to optimize diabetes drug therapies to drive improved patient
outcomes.
In addition, the
animal health division of ALRT has developed the GluCurve Pet CGM;
a solution to assist veterinarians better determine the efficacy of
insulin treatments and to help to identify the appropriate dose and
frequency of administration for companion animals, thereby
delivering the same optimization of diabetic drug therapies to pets
as to humans.
More information
about ALRT can be found at www.alrt.com and
https://sg.alrt.com.
Investor Contact
Investor Relations:
ir@alrt.com
Animal Health
Inquiries: animalhealth@alrt.com
Media: Media@alrt.com
US: +1 804 554
3500
Singapore: +65 3129
2924
ALR Technologies SG Ltd. Forward-Looking
Statement
This press release contains
"forward-looking statements" within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements can be identified by words such
as: "anticipate," "intend," "plan," "goal," "seek," "believe,"
"project," "estimate," "expect," "strategy," "future," "likely,"
"may," "should," "will" and similar references to future periods.
Examples of forward-looking statements include, among others,
statements we make regarding future sales and revenues, expected
levels of product inventory and demand, strategy for customer
retention, growth, product distribution, market penetration and
expansion, financial results and reserves, and strategy for risk
management. Forward-looking statements are neither historical facts
nor assurances of future performance. Instead, they are based only
on our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following: failure to generate
anticipated company and product awareness, inability to maintain
production capacity sufficient to meet customer demand for product,
increased manufacturing costs, decreases in product market price,
economic, regulatory, practical or other impediments to anticipated
market expansion, and insufficient product
demand. More
information on these risks and other potential factors that could
affect our business, reputation, results of operations, financial
condition, and stock price is included in our filings with the SEC
and subsequent filings. Any forward-looking statement made by
us in this press release is based only on information currently
available to us and speaks only as of the date on which it is made.
We undertake no obligation to publicly update any forward-looking
statement, whether written or oral, that may be made from time to
time, whether as a result of new information, future developments
or otherwise.