The action in recent weeks in shares of Medipharm Labs Corp (OTCMKTS:MEDIF) has been wild and wooly, to say the least. The stock has been on a rampage, with gains of nearly 100% in the past month. To add further flesh, the company just announced the formation of its new Science Advisory Committee, comprised of an internationally esteemed group of expert scientists, researchers, and medical professionals.
According to the release, “The SAC will collaborate with the MediPharm Labs management team on advancements in the emerging fields of cannabinoid extraction and cannabinoid-based derivative science. This work will serve to further enhance the Company’s manufacturing platform and research practices, assist management in evaluating commercial opportunities related to technologies, testing, and methodologies and provide guidance on partnerships with globally preeminent academic and medical institutions for cannabis research.”
Medipharm Labs Corp (OTCMKTS:MEDIF) bills itself as a company that primarily focuses on producing pharma-grade cannabis oil and concentrates in Canada. It also focuses on providing cannabis contract processing services to licensed producers and growers; supplying cannabis oil to companies for sale under its brand; and supplying raw materials and processing for the creation of ready-to-sell cannabis products. The company was founded in 2015 and is headquartered in Barrie, Canada.
Founded in 2015, MediPharm Labs has the distinction of being the first company in Canada to become a licensed producer for cannabis oil production under the ACMPR without first receiving a cannabis cultivation license.
This expert focus on cannabis concentrates from our cGMP (current Good Manufacturing Practices) and ISO standard clean rooms and critical environments laboratory, allows MediPharm Labs to produce purified, pharmaceutical-grade cannabis oil and concentrates for advanced derivative products. MediPharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream extraction methodologies and purpose-built facilities to deliver pure, safe and precisely-dosed cannabis products to patients and consumers. MediPharm Labs’ private label program is a high margin business for the company, whereby it opportunistically procures dry cannabis flower and trim from its numerous product supply partners, to produce proprietary cannabis oil concentrate products for resale globally on a private label basis.
Through its subsidiary, MediPharm Labs Australia Pty. Ltd., MediPharm Labs has also completed its application process with the federal Office of Drug Control to extract and import medical cannabis products in Australia.
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As noted above, MEDIF just announced the formation of its new Science Advisory Committee, comprised of an internationally esteemed group of expert scientists, researchers and medical professionals.
The chart shows 53% added to share values of the listing over the past month of action. In addition, the name has registered increased average transaction volume recently, with the past month seeing just shy of 290% beyond what we have been seeing over the larger time frame.
“We are extremely proud to bring together this distinguished group of experts. Each member brings a specialized expertise across the fields of extraction, chromatography, formulation, commercial development and pharmaceutical or physician approaches to cannabis science and medicine,” said Pat McCutcheon, CEO of MediPharm Labs. “Together with our senior leadership team, the Science Advisory Committee will be instrumental as we advance the MediPharm Labs platform to drive continued and future growth, develop IP and remain on the forefront of cannabinoid-based derivative research and manufacturing globally.”
Currently trading at a market capitalization of $371M, MEDIF has nearly $5.9M in cash on the books, which must be weighed relative about $11.1M in total current liabilities. The company pulled in $10.2M in 2018. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $MEDIF 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 $MEDIF, either long or short, and we have not been compensated for this article.