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Medipharm Labs Corp (OTCMKTS:MEDIF) Searches for Fresh Support

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Medipharm Labs Corp (OTCMKTS:MEDIF) just provided an update on its aggregate liquidity position, which supports plans for domestic and international growth, and announced it has fulfilled further Cannabis 2.0 product shipments to Canadian provincial distributors in January 2020.

According to the release, the Company continues to maintain a very strong balance sheet and had an unaudited aggregate liquidity position of approximately $67 million as of December 31, 2019.

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 provided an update on its aggregate liquidity position, which supports plans for domestic and international growth, and announced it has fulfilled further Cannabis 2.0 product shipments to Canadian provincial distributors in January 2020.

The stock has suffered a bit of late, with shares of MEDIF taking a hit in recent action, down about -24% over the past week. Moreover, the name has registered increased average transaction volume recently, with the past month seeing exceeding 100% above its longer-run average levels.

“With our strong balance sheet, a healthy aggregate liquidity position, supply of pharmaceutical-quality products and the fact that the Cannabis 2.0 market is opening, we are well-positioned to support our customers in Canada as they ramp up sales, as well as new potential customers in emerging international markets,” said Pat McCutcheon, CEO, MediPharm Labs. “In Canada, as the consumer market begins to achieve its full potential, we have remained disciplined in shaping our committed wholesale and service agreements based on our credit policies and sizeable upfront payments.”

At this time, carrying a capital value in the market of $296M, MEDIF has a significant war chest ($42.3M) of cash on the books, which must be weighed relative to about $53.6M in total current liabilities. One should also note that debt has been growing over recent quarters. MEDIF is pulling in trailing 12-month revenues of $107M. In addition, the company is seeing recent top-line growth, with sequential quarterly revenues growing at 37.9%. 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 $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.

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