Myos Shares Find Nourishment From Vitamin Shoppe Distribution Deal
MYOS Corporation (NASDAQ: MYOS) shares were skyrocketing Tuesday following the announcement of a distribution agreement for its sports nutrition product.
What Happened
Myos, a biotherapeutics and bionutrition company, said Vitamin Shoppe Inc (NYSE: VSI) has agreed to distribute Yolked, a product intended to build lean muscle.
Yolked is made with fortetropin, a bioactive composition derived from fertilized egg yolk, Myos said.
Why It's Important
The distribution agreement is likely to give Myos' product line better visibility, as it will be carried in Vitamin Shoppe's 775 store locations nationwide beginning Dec. 30.
Prior to the deal, Yolked was available only to collegiate athletic programs, according to Myos.
"We feel that Yolked will make an excellent addition to our portfolio of offerings, as it is a truly unique product that's clinically proven to increase muscle growth and lean body mass, which are both key components our customers look for when choosing their sports nutrition solutions," Mark Hilton, vice president of merchandising at Vitamin Shoppe, said in a statement.
Myos' revenue surged 46 percent in Q2 thanks to higher sales of the new products Yolked and Myos Canine Muscle Formula, according to the company.
What's Next
Yolked will be priced at $99.99 when it hits shelves.
Myos shares were trading higher by 44.95 percent at $1.58 at the time of publication Tuesday, while Vitamin Shoppe was trading up 7.74 percent at $6.40.
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