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CTT Pharmaceutical Holdings Inc (OTCMKTS: CTTH): The Next Bite for Aurora Cannabis Inc (OTCMKTS:ACBFF)

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If you’re wondering where the next Aurora-Cannabis-is-buying-everything grenade was going to detonate, then look no further: it’s CTT Pharmaceutical Holdings Inc (OTCMKTS: CTTH).

The company just hit the wires today with news that Aurora Cannabis Inc (OTCMKTS:ACBFF) is acquiring an initial 9.14% ownership interest in CTT via way of a non-brokered private placement in the form of a US$1 million 5% convertible debenture. According to the release, “the agreement includes an issuance of warrants enabling Aurora to increase ownership to 42.5%.”

CTT Pharmaceutical Holdings Inc (OTCMKTS: CTTH) specializes in drug delivery systems technology within the pharmaceutical industry. Its focus is fast dissolving drug delivery systems.

The Company’s technology platform includes the development of advanced oral delivery thin, patent protected wafers infused with both natural and/or synthetic cannabis extracts (THC, cannabinoids, Terpenes) to deliver treatment as an alternate to smoking and ingestion. The wafer is treated with a pharmaceutical agent designed to reduce or treat a medical condition.

Moreover, the company engages in the development of oral drug delivery systems for pain management and treatment. It focuses on fast dissolving drug delivery systems. The company’s technology platform includes the development of advanced oral delivery thin wafers infused with both natural and/or synthetic cannabis extracts to deliver treatment as an alternate to smoking and ingestion. Its principal asset is a patented orally administered wafer, an orally administrable wafer comprising at least one physiologically acceptable film forming agent.

The company was formerly known as Mindesta Inc. and changed its name to CTT Pharmaceutical Holdings, Inc. in July 2015. The company is based in Ottawa, Canada.

According to company materials, “CTT’s principal asset is a unique and novel patented drug delivery technology, an orally administered, fast dissolving thin film (the “Wafer”). This technology platform will target both the human and veterinarian (pet) markets for treatment of many diseases. The Company believes that its Wafer technology will be one of the first to gain use in major markets such as pain management. Several Canadian and U.S. patents protect the Oral Thin Film (Wafer) formulation. CTT’s oral fast dissolving drug delivery systems consist of edible Wafers that dissolve without water and within a few seconds after placement in the mouth. The majority of drugs administered using our drug delivery system mirror injections in that they have the ability to enter the bloodstream quickly, are convenient and discrete, and can be administered anywhere.  A faster absorption rate is achieved because the mouth contains a very thin mucosa and is extremely vascular. There is no bitter taste, no smoke inhalation, less degradation of medication (by bypassing the stomach) and most importantly lower dosage units are required given the efficacy of absorption.  Patient compliance is also improved especially with those who have a fear of choking or difficulty swallowing, and/or are pediatric, geriatric or incapacitated.”

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We’ve witnessed more than 100% during the past month in terms of shareholder gains in the name, most of it happening purely as a response to this news.

“The investment in CTT reflects our commitment to science-based diversification into higher-margin drug delivery technologies for both the medical and adult consumer use markets” said Terry Booth, CEO.  “The clinically-proven rapid onset of action of CTT’s wafers is a key differentiator that, we believe, will resonate strongly with physicians, patients and adult use consumers. This provides us with an important competitive advantage in the rapidly growing market segment for smoke-free form factors.”

Dr. Pankaj Modi, CEO of CTT, added, “We believe Aurora more than any other LP, provides the global distribution channels, regulatory affairs expertise, scale and manufacturing ability to successfully commercialize this unique technology on a global basis. We are very pleased to have Aurora as a key strategic investor, delivering additional recognition to our product development capabilities, and increasing both our commercial and capital markets visibility.”

Now commanding a market cap of $11.4M, CTTH has a stash ($137K) of cash on the books, which compares with virtually no total current liabilities. One should also note that debt has been growing over recent quarters. CTTH is pulling in trailing 12-month revenues of $40K. However, the company is seeing flat action on the top-line on a sequential quarterly basis. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $CTTH stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $CTTH, either long or short, and we have not been compensated for this article.

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