Clean Tech Co.: Wound Care Subsidiary Set to Take Off; 3Q Results

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Clean technology innovation company BioLargo Inc. (BLGO:OTCQX) released its financial and operational results for the three- and nine-month periods ending September 30, according to a release on November 17.

"We continue to make meaningful progress across our portfolio as we advance both technical developments and commercialization efforts," President and Chief Executive Officer Dennis P. Calvert said. "Our technologies have been validated in multiple markets, and our team remains focused on building the right partnerships to unlock long-term growth. Financially, the company remains healthy with … a growing pipeline of opportunities across several industries."

Q3 revenues were US$1.2 million with year-to-date revenues totaling US$7.3 million. The year-over-year decline was mainly due to reduced sales of the Pooph-branded pet odor product following license revocation due to non-payment and unauthorized activities by the licensee. The company has filed a nine-count federal lawsuit against the company.

The said it had total assets of US$9.2 million with US$5.9 million in liabilities, stockholders' equity of US$3.3 million, and cash and equivalents of US$4.54 million.

The company said it closed the quarter "with no toxic debt."

Calvert said the company is optimistic about "the next phase of our commercialization efforts."

"Our wound care and surgical product lines are approaching launch," he noted. "Our PFAS treatment technology has made significant technical strides, and its commercial demonstration site is preparing to go live. Meanwhile, our Cellinity™ battery platform continues to show promise as a potential breakthrough in grid-scale energy storage, and we are actively working with prospective factory partners to secure the capital required to move into commercialization."

'A Shining Star' in Company's Portfolio

On November 13, BioLargo announced that its subsidiary, Clyra Medical Technologies Inc., has entered into an exclusive stocking distribution agreement with Advanced Solution LLC, to utilize its extensive national network to distribute and promote ViaCLYR™, Clyra's cutting-edge wound irrigation solution, across the United States.

ViaCLYR™ features Clyra's proprietary Clyrasept™ technology, a copper-iodine complex which is an antimicrobial in solution as a preservative, effective against a broad spectrum of infection-causing organisms, BioLargo said. The Clyrasept™ technology has shown safety, efficacy, biocompatibility, and cost-effectiveness in FDA-cleared applications, making it a valuable addition to modern wound care protocols.

The collaboration combines the strengths of both companies — Clyra's innovative wound care technology and Advanced Solution's established distribution network and clinical training expertise — to create a nationwide platform for adoption, BioLargo said. ViaCLYR™ is set to launch in early 2026.

"We think of (Clyra) as a shining star in the portfolio that's finally coming to commercialization," Calvert said during a call with investors and analysts discussing the earnings on November 14.

"This partnership with Advanced Solution represents a transformative moment for Clyra," said Clyra Chef Executive Officer Steve Harrison. "Advanced Solution's proven track record in wound care distribution and their commitment to clinical excellence make them the ideal partner to introduce ViaCLYR™ to healthcare providers nationwide. Together, we're positioned to make a meaningful impact on patient outcomes while addressing the critical need for effective, safe wound irrigation solutions."

The company "worked diligently to develop a technology that not only meets rigorous safety and efficacy standards but also addresses real clinical needs in wound care management," Calvert said. "This agreement validates our innovation and accelerates our ability to deliver ViaCLYR™ to the clinicians and patients who need it most. Advanced Solution shares our vision of improving patient care through science-driven solutions."

Realizing the Fruits of Investment

BioLargo is made up of subsidiaries that work in different sectors, a "family of companies," which also includes ONM Environmental, BioLargo Engineering, BioLargo Energy Technologies, and the BioLargo Equipment Solutions & Technologies Inc. (BEST for PFAS Solutions) subsidiary.

During the web call, Calvert said the company "has been at this for some time and we're finally at the spot where we're able to begin realizing some of the fruit of our investments.

BioLargo is painfully undervalued, he said. "The company … should be valued somewhere around $US200 million," Calvert said the presentation noted. "Yet we have a market cap that's trading somewhere in the US$50 million range and with some pressure on it as well. So that's very frustrating. It's very frustrating for management. It's very frustrating for all the stockholders."

Chris Temple of The National Investor shared his thoughts on the company following a recent announcement about the company's PFAS technology for removing so-called "forever chemicals" from water, stating, "BioLargo announced that its regimen to remove PFAS 'forever chemicals' from water is even more robust."

Temple also mentioned his intention to visit the energy division in Oak Ridge, Tennessee, where the company is working on its new battery technology, in the coming weeks.

Additionally, Richard Ryan, an analyst with Oak Ridge Financial, highlighted, "The large emerging market for PFAS removal and BLGO's growing validation in this opportunity should not be overlooked." Ryan further commented, "Clyra Medical and the company's PFAS technology provides investors with underlying support, while BLGO's biggest 'unseen value' opportunity offers investors an interesting 'call option," in his October 30 report. He maintained his Buy rating in a note on November 19.

The Catalyst: Market Expected to Expand Considerably

According to Future Market Insights, the global market for anti-biofilm wound dressings is anticipated to grow at a compound annual growth rate (CAGR) of 9.8% from 2025 to 2035, reaching US$2.4 billion from US$943.5 million. This growth is primarily driven by the increasing incidence of surgical site infections, diabetic ulcers, and chronic wounds. Biofilms, which contribute to antibiotic resistance and slow healing, are also a significant factor.

In the U.S., the market is expected to expand considerably, with a projected CAGR of 9.3% over the forecast period. This growth is fueled by the prevalence of chronic wounds, an aging population, the demand for advanced care, technological advancements, and government initiatives, according to the research firm.

Fact.MR, a global provider of data-driven market intelligence, noted that "The global wound irrigation solution market is evaluated at a size of US$732 million in 2024 and has been forecasted to expand at a CAGR of 3.4% to reach US$1.02 billion by the end of 2034." The rising prevalence of chronic diseases such as diabetes and vascular conditions is driving the demand for wound care solutions. Hospitals and clinics are increasingly adopting wound irrigation protocols to prevent surgical site infections.

About 99,000 deaths are associated with healthcare-associated infections (HAIs) each year, according to the National Institutes of Health. On any given day, about 1 in 31 hospital patients has at least one HAI. These infections are a serious concern, leading to millions of infections and significant costs for the healthcare system. 

Ownership and Share Structure¹

About 13.6% of BioLargo is owned by insiders and management. They include Chief Science Officer Kenneth Code with 8.07%, CEO Calvert with 3.20%, and Director Jack Strommen with 1.56%.

About 0.04% is held by the institution First American Trust. The rest, 86%, is retail.

Its market cap is US$48.36 million, with about 308.99 million shares outstanding and about 266.36 million free-floating. It trades in a 52-week range of US$0.32 and US$0.14.