RXMD - Progressive Care reports strong October sales as COVID-19 testing ramps up

Progressive Care (RXMD) reports October consolidated net sales $3.3M, up 7% M/M.October margins increased to 27%, thereby raising cash on hand by 53%.Prescriptions filled during October grew 1% on a sequential monthly basis.340B pharmacy dispensing fees grew 119% in October on a year-over-year basis.The Company booked nearly $100K in revenues related to rapid results COVID-19 testing in October. “October was another strong month characterized by expanding margins and strong execution,” commented Alan Jay Weisberg, CEO and Chairman of Progressive Care. “We have secured a market-leading position in COVID-19 testing in Dade County and we look forward to becoming a major provider of COVID-19 vaccines next year.” Source: Press Release

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Progressive Care reports strong October sales as COVID-19 testing ramps up