On Monday (January 20), the Canadian maker of cannabinoid-based drugs told investors that, with the two over-the-counter identification numbers for its TERPACAN brand of hemorrhoid and back and muscle pain treatments, it is moving ahead with its plan to launch the products in Canadian pharmacy retail locations by mid-2020.
Following the receipt of the identifications, Tetra is in the final steps of closing a supply agreement to secure private reimbursement for the TERPACAN offerings and has secured an unnamed manufacturer to create the products.
Tetra said that, in preparation for commercializing its products, it identified an undisclosed contract sales organization to assist in product marketing, and also that it has been in discussions to expand the distribution of the two products into the US once it receives a national drug code from the US Food and Drug Administration (FDA).
Guy Chamberland, CEO of Tetra, said in a press release that the firm has goals to push its products into the wider international marketplace.
“We intend to sell these products globally and to continue to expand these product lines and maintain our lead as an innovator in the world of botanical medicines,” Chamberland said.
Chamberland also noted the firm is working off of the momentum created from the upcoming launch of AWAYE, an osteoarthritis pain relief treatment developed by its subsidiary Panag Pharma. In October, Tetra signed a binding term sheet with Portuguese pharmaceutical brand Azevedos Indústria Farmacêutica to distribute AWAYE across Portugal, Tunisia and Mozambique in Q1 2020.
The AWAYE line is also up for distribution in the Middle East. Tetra said it is in discussions with two undisclosed Middle Eastern pharmaceutical companies for the regional manufacturing and distribution of the AWAYE and TERPACAN product lines.
The company has been on an upswing as of late following a nod of approval from the FDA in December. Tetra’s delta-9-tetrahydrocannabinol (THC) treatment of hepatocellular carcinoma, a type of liver cancer, received orphan drug designation from the federal regulator, resulting in a 10 percent jump in share price.
In the past month, share prices have been up 6.1 percent in Toronto, and over the last six months, Tetra has doubled its value, rising 100 percent. The company opened at C$0.51 on Wednesday (January 22) and sits at C$0.52 as of 2:13 p.m. EST.
Tetra and Echelon Wealth enter C$10 million bought deal offering
The week has proven to be a busy one for the drug developer. On Tuesday (January 21), Tetra revealed that investment firm Echelon Wealth Partners has agreed to purchase almost 19 million units of the company on a bought deal basis for a value of about C$10 million.
Echelon will work as the sole underwriter and bookrunner of the deal and has been granted the option to purchase up to 15 percent more units.
Tetra said it plans to use the funding as working capital for general corporate purposes.
The offering is expected to close sometime around February 13, 2020, and is subject to customary closing conditions, including approval from the TSX Venture Exchange and other regulatory authorities.
Don’t forget to follow @INN_LifeScience for real-time updates!
Securities Disclosure: I, Danielle Edwards, hold no direct investment interest in any company mentioned in this article.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).
Canopy Growth to Participate in BofA Securities Virtual Consumer & Retail Technology Conference on March 11, 2021
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) (“Canopy Growth” or “the Corporation”) announced today that EVP & CFO Mike Lee will be participating in a fireside chat at the BofA Securities Virtual Consumer & Retail Technology Conference on Thursday, March 11, 2021 at 9:30am ET .
Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”). The Company announces that further to its press release dated March 2, 2021, it has obtained TSX Venture Exchange approval to extend the closing date of its previously announced private placement of units (“Units”) until April 7, 2021. Each Unit is comprised of one (1) common share and one (1) warrant, exercisable for one common share at price of $0.11 per share, for a period of three (3) years from the date of Closing. The Company applied to extend the date of closing to allow a greater number of interested investors to participate.
For more information regarding the Company or the offering, please contact email@example.com, or