JUPITER, FL - Safety Shot, Inc. (NASDAQ:SHOT), a wellness and dietary supplement company, has reported positive outcomes from a recent clinical trial, suggesting its product can significantly reduce Blood Alcohol Content (BAC) in consumers. The study, conducted by The Center for Applied Health Sciences (CAHS), demonstrated that Safety Shot's proprietary formula could accelerate the reduction and clearance of alcohol from the body.
The double-blind, randomized, placebo-controlled trial revealed that participants experienced a substantial decrease in BAC within 30 minutes of consuming Safety Shot. The results indicated a 30%-50% faster rate of alcohol metabolism compared to the placebo group. Individuals aged 24 to 46 and weighing between 95 and 225 lbs were monitored, showing continuous BAC reduction in successive 30-minute intervals.
Besides lowering BAC, the trial participants reported less head discomfort, reduced fatigue, and increased energy levels, suggesting that Safety Shot may enhance subjective feelings of well-being after alcohol consumption.
David Sandler, Chief Operations Officer and co-inventor at Safety Shot, expressed excitement about the findings, which align with the company's non-clinical trial observations. Sandler emphasized the potential impact of Safety Shot on consumer behavior, promoting safer alcohol consumption and controlled drinking habits.
Dr. Tim Ziegenfuss, CEO of CAHS, highlighted the supplement's promise in supporting better outcomes for individuals consuming alcohol. The study's results are being prepared for submission to a biomedical journal for peer review and publication.
Safety Shot, Inc. aims to introduce its product to various markets, including distributors, retailers, restaurants, and bars throughout 2024. The product is currently available for purchase online.
The information presented in this article is based on a press release statement from Safety Shot, Inc., and readers are advised that the company's forward-looking statements involve risks and uncertainties. Safety Shot has provided disclosures in compliance with the Private Securities Litigation Reform Act of 1995.
In other recent news, Safety Shot, Inc. made several significant announcements. The company revealed a new equity incentive plan, approved by shareholders, to incentivize and retain key personnel. This plan allows for the reservation of 15,000,000 shares of common stock. Additionally, Safety Shot, Inc. has expanded its distribution to Massachusetts and Rhode Island through a strategic partnership with Atlantic Beverage Distributors.
The company has also embarked on a significant partnership with Capital Drugs, a pharmacy chain with 300 locations nationwide, marking a substantial increase in its retail presence. In financial developments, Safety Shot successfully raised $5 million in funding from Core 4 Capital Corp through a private placement, issuing 2,369,668 shares at a price of $2.11 each.
Safety Shot, Inc. has also expanded its distribution to New York and New Jersey through a partnership with Prime CSB. In a move to cater to consumers' convenience, the company announced the launch of its formula in a new 4-ounce bottle format, expected to hit the shelves in Q3. These are recent developments in Safety Shot's expansion and product development efforts.
InvestingPro Insights
As Safety Shot, Inc. (NASDAQ:SHOT) garners attention with its clinical trial success, investors and consumers alike may be intrigued by the financial health and market performance of the company. With a market capitalization of $37.42 million, Safety Shot is a small-cap player in the wellness and dietary supplement industry. Notably, the company has demonstrated a remarkable revenue growth of 159.8% in the last twelve months as of Q1 2024, which could be indicative of its potential in the market following promising trial results.
However, the company's financials reflect some challenges. Safety Shot's gross profit margin stands at -678.6%, suggesting that it currently spends significantly more to produce its goods than it earns from sales. This aligns with an InvestingPro Tip that points out the company's weak gross profit margins.
Moreover, the company's cash burn is highlighted by another InvestingPro Tip, indicating that Safety Shot is quickly burning through cash, which may raise concerns about its long-term financial sustainability. Investors might take caution, as the stock has also experienced considerable volatility and has declined significantly over the past three months.
For those considering an investment in Safety Shot, it is worth noting that the company is trading at a high revenue valuation multiple, which can be a signal of investor optimism about future growth. With the company not being profitable over the last twelve months and not paying dividends, potential investors should weigh the growth prospects against the current financial health and market performance. For a more comprehensive analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/SHOT, which could provide further insights into Safety Shot's market position and future outlook.
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