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AusCann Group Holdings Limited (OTCMKTS: ACNNF) Releases Q2 2021 Business Progress Updates And Financial Results

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AusCann Group Holdings Limited (OTCMKTS: ACNNF) has offered an update regarding its market progress for the June quarter, in which the company’s net cash was $13.7 million.

AusCann’s Q2 outflows were $1.6 million 

Operating outflows stood at $1.6 million during the quarter, inclusive of $930 in R&D costs regarding AusCann’s main programs. In addition, due to synergies following the merger of AusCann and CannPal, the company lowered corporate and administration costs by 49% compared to the previous quarter, including significant savings in statutory charges, operational efficiencies, pooled resources, and a streamlined organizational structure.

The Business’s sustained development will be aided by the new company structure and robust financial position, which will allow greater resources to be devoted to main revenue-generating operations for its leading human and animal health initiatives. During the quarter, $92k in related-party payments were made for Directors’ fees paid from the pool of fees sanctioned by shareholders.

The company was delighted to provide the market with primary clinical veterinary and scoring data from the CPAT-01 Phase 2A pilot study, demonstrating the product’s safety and effective use in dogs with osteoarthritis for pain and lameness. CPAT-01 is a standard pharmaceutical product made from natural CBD and THC extracts developed for FDA/CVM approval.

Following the submission of a summary of scientific reasoning to the FDA, which included data obtained from a strong pre-clinical and Phase 1 research program, the FDA/CVM established an Investigational New Animal Drug filing for CPAT-01.

DemaCann received a PAA request from APVMA

DermaCann®, a CBD-based veterinary medicine in development for immunological and anti-inflammatory support in dogs with dermatological problems, received a PAA request from the APVMA during the quarter, proposing a timing and regulatory submission plan. Following a formal response to the  PAA describing a project plan with set milestones for the product registration, AusCann submitted the first data module to the APVMA to begin the Australian registration of DermaCann®.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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Heritage Cannabis Holdings Corp (OTCMKTS: HERTF) And Avicanna Inc. Enter Product Licensing and Royalty Agreement

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Heritage Cannabis Holdings Corp (OTCMKTS: HERTF) has signed an exclusive IP licensing and royalty deal with Avicanna Inc. Avicanna is a biopharmaceutical firm specializing in the development, production, and marketing of plant-derived CBD products. 

Heritage to avail Avicanna products on Q4 

The Licensing Agreement covers the marketing of Avicanna’s advanced CBD-based topical treatments under Heritage’s medical cannabis brands. Avicanna’s patented cannabis topical products, created years of comprehensive research by the company’s scientists, are among the Branded Products. The formulations are supported with pre-clinical research, including two SKUs backed with complete human trials. Heritage’s vast medical sales channels across Canada will introduce the Branded Products in Q4 2021.

Umar Syed, Heritage’s president for the medical division, commented, “We are excited to add Avicanna’s innovative topical products to our portfolio of highly effective medical CBD products. They are a great strategic fit. We are very impressed with Avicanna’s diligent R&D approach for developing highly effective topical products formulated with pharmaceutical technology and which are supported with evidence of efficacy, much like the existing Opticann portfolio that includes oral products that use the patented VESIsorb technology and sublingual CBD filmstrips that use the patented Versafilm technology. The Licensing Agreement offers Heritage speed-to-market with highly effective topicals and we see this as the beginning of a highly successful commercial partnership.”

Avicanna to receive royalty payment on sales 

Avicanna has exclusively licensed, subject to certain conditions and exceptions, the use of certain proprietary product formulations to Heritage to be sold and marketed under Heritage’s medical Opticann branded products throughout Canada under the terms of the Licensing Agreement. The agreement has an initial three-year period. In addition, heritage must reach specified annual sales targets for each Branded Product licensed under the Licensing Agreement, and it will pay Avicanna a royalty for products sold.

Aras Azadian, Avicanna CEO, said, “We look forward to collaborating with the Heritage team to extend our proprietary and evidence-based topical formulations to more Canadian patients and expand into more medical channels nationwide.”

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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Revive Therapeutics Ltd (OTCMKTS: RVVTF) Updates About its Programs, and Cartel Blue Ord Shs (OTCMKTS: CRTL) Announces Launch of Premium Hemp Cigar Lounges and Product Showrooms

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Revive Therapeutics Ltd (OTCMKTS: RVVTF) announced an update regarding its psilocybin focussed psychedelics development and clinical programs. The specialty life sciences company works on research and development therapeutics for medical needs and rare disorders. 

The company aims to unlock the potential therapeutic value of psilocybin

Michael Frank, CEO of Revive Therapeutics Ltd stated that the company is working on clinical studies to open the actual potential therapeutic value of psilocybin in its multiple uses, besides working on ways to treat mental health, substance abuse, and neurological disorders. 

The CEO went on record and stated that the company is headed towards its next growth stage, focusing on entering into a partnership with U.S. academic institutions and other organizations. The company is also developing intellectual property and venturing into FDA clinical studies with psilocybin, stated the CEO. 

Development of Psilocybin oral thin-film strip underway

As part of a feasibility agreement with LTS Lohmann Therapie-Systeme AG, the company has started its product development program. Under the initiative, the development and manufacturing of a proprietary psilocybin oral thin-film strip will be done. The product can be used to treat substance abuse, mental illness, and neurological disorders. Clinical studies will be conducted in 2022. 

Cartel Blue Ord Shs (OTCMKTS: CRTL) confirms launch of premium hemp cigar lounges and product showrooms

Cartel Blue Ord Shs (OTCMKTS: CRTL) announced the launch of its first premium hemp cigar lounges and its product showrooms. According to a statement issued by the company, the three Cartel Premium Cigar Lounges will be opened in Nashville, Cathedral City, and Honolulu. As a result, the Premium Hemp smoker can take advantage of Cartel products in a secure and comfortable environment at the new locations. 

It is learned that Cartel Blue Ord Shs will be granted the liquescence to sell products with Hawaii Grown and Product of the Kingdom of Hawaii trademarks in locations where Cartel Blue products are marketed and sold. Additionally, a source from the company shared that Alan Ada of Pointe West Pacific Development is responsible for the construction, expansion, and management of all the facilities in line with the Cartels business model.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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Pharmacyte Biotech Inc (NASDAQ: PMCB) IOP Closes and the Company’s Common Stock Begins to Trade on NASDAQ

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Pharmacyte Biotech Inc (NASDAQ: PMCB) announced the closure of underwritten public offering valued at $15 million. The company’s stock are currently trading on NASDAQ.

H.C. Wainwright appointed as sole book-running manager

The company chose to have H.C. Wainwright as its sole book-running manager for the offering. A written prospectus, prospectus supplement about the offering and registration statement on Form S-3 (File No. 333-255044) that was previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (SEC) on April 14, 2021, were filed as part of the offering. 

A source from the company shared that the final prospectus supplement and accompanying prospectus on the offer is filed with the SEC, besides being available on SEC’s official website. In addition, electronic copies of the prospectus could be obtained, the source added. 

Information about the IPO

More than 3.5 million shares of the company’s common stock and warrants to purchase up to an aggregate of the same number of common stock were part of the IPO. Besides this, the company granted the underwriter an option of 30-days to purchase additional shares of its common stock, besides being given a choice to buy accompanying company warrants. 

After deducting underwriting discounts, commissions, and other offering expenses, Pharmacyte Biotech Inc earned net proceeds of around $13.6 million from the IPO during closure. 

Pharmacyte Biotech Inc stock begins to trade 

Pharmacyte Biotech Inc stock begins to trade on the Nasdaq Capital Market. The IPO offering of the company closed, and under the symbol PMCB, the stock of the company commenced its trading journey. The company in the biotechnology sector is developing cellular therapies for cancer and diabetes. The treatments are made based on a cellulose-based live-cell technology christened Cell-in-a-Box®. The team of experts at the company produces various therapies to treat cancer and diabetes. 

Therapies developed by the company convert inactive chemotherapy drugs into cancer-killing form

Therapies developed by Pharmacyte Biotech Inc for cancer involve genetically engineered human cells that are capable of converting an inactive chemotherapy drug into its active or cancer-killing form.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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