Yet another example of the aggressive posture of Aurora Cannabis Inc (OTCMKTS:ACBFF) as a strategic investor is its latest target, CTT Pharmaceutical Holdings Inc (OTCMKTS: CTTH). But CTTH may have more going for it here than just a million bucks from Aurora.
As a case in point, the company just announced that, effective May 30, 2018, Cam Birge has been appointed President and a Director of the Company, replacing Dr. Pankaj Modi as President. According to the release, “Dr. Modi remains as Chief Executive Officer, Chief Science Officer and a Director of the Company.” But, as we discuss below, Mr. Birge is really the guy that put together the deal with Aurora.
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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Recent action has seen nearly 530% during the past month in terms of shareholder gains in the stock. What’s more, the company has witnessed a pop in interest, as transaction volume levels have recently pushed just under 540% above its longer-run average levels.
This huge upside action has been certainly fueled in large part by the ratification of “something interesting is going on here” that necessarily comes with strategic interest from Aurora. But the shift in leadership also shows that the company is willing to evolve into a higher niche by playing ball from here.
“Mr. Birge arranged for and negotiated the recently announced partnership with Aurora Cannabis on behalf of CTT and its shareholders. We are delighted Mr. Birge has joined our management team and Board of Directors to help lead the Company through its next phase of development,” said Dr. Pankaj Modi CEO.
Currently trading at a market capitalization of $70.9M, CTTH has a stash ($137K) of cash on the books, which stands against 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 growth on the top line on a sequential quarterly basis. This is an exciting story, and we look forward to a follow-up chapter as events transpire. 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.