The action in shares of Medipharm Labs Corp (OTCMKTS:MEDIF) is interesting right now because this is one of the few stocks in the cannabis sector, broadly defined, that is now testing or making new cycle lows. But support could also come into play this week, so it should be noted that the company recently announced a further expansion of its innovative, pharma-quality family of branded products with the retail introduction of CBD25:5 Release Formula.
According to the release, this latest brand – the third launched from MediPharm Labs’ GMP-certified Canadian facility since late March – is ideal for medical patients and adult users who covet a full-spectrum cannabis oil in a specially formulated ratio of approximately 25mg/ml of CBD and 5mg/ml of THC, harnessing the properties of both cannabinoids.
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 a further expansion of its innovative, pharma-quality family of branded products with the retail introduction of CBD25:5 Release Formula.
The stock has suffered a bit of late, with shares of MEDIF taking a hit in recent action, down about -10% over the past week. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -29%. What’s more, the listing has seen interest climb, with an increase in recent trading volume of 43% above its longer-run average levels.
“Canadians have told us loud and clear they want more and better choices at retail and MediPharm Labs is not only listening, we’re acting by delivering a portfolio of quality-tested, Cannabis brands and formulated products – now including CBD25:5 – that consumers can trust for everyday use,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “CBD25:5 is an important breakthrough because of its specially designed release formula. Recognizing the potential of this product, we’re delighted to note that Medical Cannabis by Shoppers, Canada’s major national medical platform and retailer, as well as several other private provincial distributors have now committed to bringing CBD25:5 to market with more to follow.”
Now commanding a market cap of $127M, MEDIF has a significant war chest ($21.4M) of cash on the books, which is balanced by about $25.1M in total current liabilities. MEDIF is pulling in trailing 12-month revenues of $118.4M. However, the company is seeing declines on the top-line on a quarterly y/y basis, with revenues falling at -49.5%. We will update the story again soon as further details emerge. 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.