Elevai Labs Reports Q2 2024 Financial Results

NEWPORT BEACH, Calif., Aug. 14, 2024 (GLOBE NEWSWIRE) – Elevai Labs Inc. (NASDAQ: ELAB), a leader in medical aesthetics, has announced its financial results for the second quarter ending June 30, 2024, alongside significant business updates. The company has launched a new B2B/B2C e-commerce platform for Elevai Skincare and established subsidiaries to enhance operational efficiency and departmental alignment. This restructuring aims to reduce costs while pursuing growth opportunities. As part of its corporate restructuring, Elevai has introduced Elevai Biosciences Inc. and Elevai Skincare Inc. The company is focused on improving profitability through ongoing research collaborations, notably with Dalhousie University. The new e-commerce portal facilitates easy ordering for both retail and business customers, integrating social media and influencer marketing, while also enabling detailed data collection for targeted marketing strategies. Elevai's product line is designed to address hair loss and thinning hair, offering scientifically backed, cost-effective solutions for both men and women. The company has appointed three prominent metabolic scientists to its team, including Dr. Orian Shirihai from UCLA and Dr. Eduardo Grunvald from UCSD, to bolster its research and development efforts. Elevai Labs operates three wholly owned subsidiaries in the medical aesthetics and biopharmaceutical sectors. The company has issued a cautionary note regarding forward-looking statements, emphasizing the inherent uncertainties and risks associated with future performance predictions. For more information, visit www.elevailabs.com.