Friday, June 24, 2022

PURE Bioscience (OTCMKTS:PURE) Jumps to Attention

PURE Bioscience (OTCMKTS:PURE) is benefiting from a surge in interest on reports that Chipotle Mexican Grill, Inc. has adopted PURE’s Hard Surface disinfectant as a food safety solution to eliminate and prevent Norovirus and other viruses and bacteria in all +2,100 of its store locations nationwide.

The announcement powered the stock higher by an immediate 20% on a major jump in volume. Traders are taking notice of the attention and may dig a little deeper. If they do, they will likely also find an exciting story of strong revenue growth and a very well-tuned balance sheet.

PURE Bioscience (OTCMKTS:PURE) trumpets itself as a company that 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.

It manufactures and distributes silver dihydrogen citrate (SDC), a non-toxic antimicrobial agent, which offers residual protection and formulates with other compounds.

The company offers SDC-based disinfecting and sanitizing products, including PURE Hard Surface, a food contact surface sanitizer and disinfectant; PURE Control, an antimicrobial food processing aid for use in poultry processing and produce processing; PURE Multi-Purpose and Floor Cleaner used for sanitation practices; PURE Hi-Foam Cleaner, a dilutable concentrate; SILVÉRION 2400, an antimicrobial solution used against microorganisms; and SDC 2400, a non-toxic antimicrobial agent. It also provides various dispensing equipment, such as spraying, foaming, misting, and miscellaneous equipment and accessories.

The company sells its products to distributors and end users. PURE Bioscience, Inc. was founded in 1992 and is headquartered in El Cajon, California.

PURE is focused on developing and commercializing our proprietary antimicrobial products primarily in the food safety arena — providing solutions to the health and environmental challenges of pathogen and hygienic control.

Our technology platform is based on patented stabilized ionic silver, and our initial products contain silver dihydrogen citrate, or SDC. SDC is a broad-spectrum, non-toxic antimicrobial agent, which offers 24-hour residual protection and formulates well with other compounds.

As a platform technology, SDC is distinguished from existing products in the marketplace because of its superior efficacy, reduced toxicity and it mitigates bacterial resistance.

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Chipotle recently began promoting “Our Food Safety Advancements” and its eight-step food safety program in the media. The new food safety program was also discussed in a NY Times article entitled, “Every Day’s a Safety Drill as Chipotle Woos Customers Back .”

Chipotle’s founder, Steve Ells, has been on a warpath to reassure the beleaguered fast casual restaurant’s customer base that he’s made good on his promise to improve food safety protections, including advancements in farming, stricter restaurant inspections and a system that tracks ingredients through the supply system.

Outbreaks of E. coli, norovirus and salmonella among hundreds of customers began last year, tied to visits to CMG.

In its regulatory filing, PURE demonstrated materially significant reductions in Salmonella, Listeria and E. coli in processed fresh produce, as compared with current processing chemicals.

Chipotle’s web site details the “Food Safety Advancements” it has implemented to ensure that its fresh ingredients are as safe as possible. While it does not identify specific product names, the following statement from its web site refers to Chipotle’s adoption and use of PURE Hard Surface: “ We have adopted the use of a natural disinfectant that virtually eliminates harmful bacteria and viruses from the restaurant environment. ”

The announcement has had an immediate impact on PURE shares, ripping the stock higher on a surge in interest. The stock has a relatively light float (38 mln shares), so it’s not a heavy-lifting operation to send it higher. And the sudden spotlight may translate into more attention on the Company’s strong 269% y/y quarterly sales growth recently reported. Revenues are on track to break above the $1 mln mark this quarter if the growth continues.

Earning a current market cap value of $76.9M, PURE has a significant war chest ($5.41M) of cash on the books, along with total assets greater than $7.6M, which stands against de minimus total accumulated debt. With the added attention and the Company’s recent strong performance, along with this very solid balance sheet, PURE may be on the radar of a ton of OTC traders as a regular item over the near term. We will be continuing our coverage as a possible high growth opportunity in future updates. For continuing coverage on $PURE and our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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