APHRIA INC (OTCMKTS:APHQF)
APHRIA INC (OTCMKTS:APHQF) shares gained 5.11%, days after the company announced it had made its first shipment to Australia-based Medlab. The shipment is part of a previously announced agreement between the two companies.
Medlab Supply Agreement
Under the terms of the agreement, APHRIA INC (OTCMKTS:APHQF) is to supply Medlab with high-yield cannabis extracts that will be used in human trials in order to test their ability to treat intractable pain in oncology patients. The Australian medical life science company is to combine the supplied cannabis extracts with its patented medicine delivery system, NanoCelle.
The result will be the production of patented cannabis medicine that can be absorbed more easily into the bloodstream. NanaBis is the company’s lead cannabis-based medicine that contains some of the most active CBD ingredients. The company plans to manufacture up to 3,500 unit with the incoming Aphria shipments.
The supply agreement is also part of a global supply agreement the legal cannabis company is using to expand its footprint on the international scene.
“As Aphria’s first international partner, Medlab shares our vision to advance the use of medical cannabis as an alternative treatment for patients in need. We are proud to be a part of this important research, and we look forward to continuing to provide high-quality, safe and pure medical cannabis products to support Medlab’s clinical research,” said CEO Vic Neufeld.
APHRIA INC (OTCMKTS:APHQF) continues to trade in an uptrend as investors remain optimistic about its plan to pursue sales opportunities on the international scene. The stock is closing in on its 52-week high of $6.12 after a recent pullback. For the full year, it is up by more than 50%.
Separately, APHRIA INC (OTCMKTS:APHQF) shareholders have elected Rena Persofsky and Shawn Dym as new directors of the board. Ms. Persofsky is an executive consultant of Innovation Group at CIBC. She is also a respected strategist with a successful track record. Mr. Dym is a managing director at York Plains Investment Corp. He also serves on the board of Green Acre Capital.
“Together, they bring valuable capital markets and cannabis industry expertise that will be instrumental in driving Aphria’s strategic direction as a global leader in the cannabis industry. Their passion for success in growing dynamic companies will be a tremendous asset to the board,” said Mr. Neufeld.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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