The wholly-owned subsidiaries of Auxly Cannabis Group Inc (OTCMKTS:CBWTF) – Kolab Projects Inc., and Dosecann Inc., are preparing to sell cannabis extracts, topical products, and edibles on receiving amended sales licenses from Health Canada.
Auxly applies for sale licenses for 83 products
Auxly has applied for sales licenses for 83 unique products through its subsidiaries to Health Canada sixty days in advance complying with Cannabis regulations in Canada. The new products that will go for sale in mid-December include chocolates, chewables, and vapes. Health Canada has already authorized Auxly to market oil-based products in capsule and sprayable formats.
Chief Executive Officer of Auxly, Hugo Alves, said the company is pleased with the receipt of amended licenses for Kolab and Dosecann after successfully submitting the notifications for eighty unique products. The company would soon begin the sale of branded cannabis products on the legalization of their sale in Canada. Auxly would offer new products under three different brands: Foray, Kolab, and Dosecann.
The clinical wellness brand – Dosecann is developed to ensure safety, efficacy, and quality. It has utilized the advances in science and continued R&D to derive innovative products and establish standards for the future.
Foray is an entry point for anyone to enter the cannabis journey. The users will receive education and see cannabis products from a different angle. Auxly has dedicated Kolab to culture, design, and arts. Cannabis enthusiasts in Canada would enjoy carefully selected high-quality cannabis products.
Repays 90% of convertible debentures
Auxly said the investors of the balance 6% of the unsecured convertible dentures, which matures on January 16, 2020, would either amend or convert their holdings in the principal amount ($98.69 million). Therefore, the company settles an interest portion of $1.25 million by repaying the debt of $79.44 million and converting $15.99 million into 21.60 common shares (at $0.74 for each share).
Alves said the company’s balance sheet is strengthened by repaying a majority of the debt. Therefore, Auxly is free from long term debt for the next three years. The company would use funds received by partial conversion of the debentures to support the execution of cannabis 2.0 derivative products.
Zelira Therapeutics Ltd (OTCMKTS:ZLDAF) Inks A Pact With CSCM To Develop Products To Treat Health Risks And Symptoms In Patients With Diabetes And Cardiovascular Disease
Zelira Therapeutics Ltd (OTCMKTS:ZLDAF) signed a deal with Cardiovascular Solutions of Central Mississippi (CSCM) to help patients with cardiovascular diseases and diabetes by offering innovative products. The new products developed using CBD derived from hemp and other cannabinoids exclusively for CSCM will address therapeutics needs related to patients with DPN (Diabetic Neuropathies) and PAD (Peripheral Arterial Disease).
Upfront license fee payment to Zelira
CSCM will pay an upfront license fee to Zelira. It will also pay royalties to Zelira on the commercialization of the products developed under this agreement. The company will also bear all the expenses related to marketing, manufacturing, distribution, and sale of US products.
CSCM holds exclusive marketing rights for all the products developed by Zelira as per this deal in the US markets. However, Zelira retains marketing rights for developed products in other markets across the world.
Several people are suffering from lower-limb amputations, adult blindness, and kidney failure in the US because of diabetes. According to CDC, of the 30 million Americans who have diabetes in the US, one among the three adults aged above 50 years develops PAD.
Peripheral Arterial Disease is the chief cause of non-traumatic amputations in the US. DPN, which is the most common health condition related to diabetes, is the chief cause of disability, mainly due to fall risks and foot ulcerations. If it is not cured in time, it could lead to limb amputation and infection as well.
The annual spending on diabetic treatment is $326 billion in the US. According to a recent CDC (Centers for Disease Control) projection, one in three people in the US will suffer from diabetes by the year 2050. Ethnic and racial minorities in the US usually suffer from higher health care costs.
CEO of CSCM, Dr. Foluso Fakorede, said the company is excited to enter a deal with Zelira to develop effective and innovative treatment options for patients suffering from PAD. This partnership’s main target is to develop and promote the treatment for cardiovascular disease and address unmet needs for marginalized communities.
Zelira will also focus on unveiling its HOPE Products and proprietary Zenivol in the international markets.
Innovative Industrial Properties Inc (NYSE:IIPR) Reports A Growth Of 183% YoY In Q2 2020 Revenues
Innovative Industrial Properties Inc (NYSE:IIPR) posted an increase of 183% YoY to $24.3 million in Q2 2020. The shareholders received a 77% YoY increase in dividend at $1.06 for each share on July 15, 2020.
Raises $114.9 million
Innovative Industrial raised funds of $114.9 million through a public offering of 1.550 million common shares. The underwriters can also acquire additional 202259 shares. After Q2 2020, the company mobilized an additional $258.7 million by issuing 3.085 million common shares. It also provided an option for underwriters to buy additional 402,504 shares.
Acquires 8 properties
Beginning April 1, 2020, Innovative Industrial purchased 8 properties spanning 775,000 Sq. Ft. (rentable) based in Pennsylvania, New Jersey, Massachusetts, California, and Michigan for $191.5 million.
Innovative Industrial expanded prevailing tenant relationships with Holistic Industries Inc., Cresco Labs Inc., Ascend Wellness Holdings Inc., and Kings Garden Inc following the purchase of new properties. The company also formed new tenant relationships with Curaleaf Holdings Inc. and Columbia Care Inc. Innovative Industrial, the real estate company, invested $1.1 billion for tenant improvements as of August 5, 2020.
Purchases property in New Jersey
Innovative Industrial purchased a Blue Anchor, New Jersey-based property, which comprises 111,000 Sq. Ft. industrial space, for $5.5 million. The company signed a triple-net, long term lease agreement with Curaleaf’s subsidiary for the property. Curaleaf will use this space for medical cannabis processing and cultivation.
Curaleaf will make improvements to the property. Innovative Industrial will reimburse up to $29.5 million to Curaleaf for tenant improvements. Therefore, the total investment of Innovative Industrial for this property is $35 million.
Collections from rent
Innovative Industrial deferred rental collection for three tenants for May and June 2020 during coronavirus crises. It received rent in full in July 2020 from these three tenants. It netted 100% of the contractual rent for April, May, and June 2020, excluding from tenants based in LA, California property.
Innovative Industrial holds 61 properties as of August 5, 2020, in several locations that comprise Minnesota, New York, New Jersey, Michigan, Maryland, California, Arizona, Ohio, North Dakota, and Florida. The total rentable area from these properties is 4.5 million Sq. Ft.
GW Pharmaceuticals PLC (NASDAQ:GWPH) Reports A Growth Of 68.4% In Q2 2020 Revenues: Epidiolex Oral Solution Receives The Nod Of FDA To Treat Seizures
GW Pharmaceuticals PLC (NASDAQ:GWPH) posted a growth of 68.4% YoY to $121.3 million in revenues in Q2 2020. CEO of GW Pharmaceuticals, Justin Gover, said the company posted impressive sales of Epidiolex in the US despite ongoing COVID-19 pandemic. The recent approval for Epidiolex to treat seizures related to TSC provided an excellent opportunity for GW Pharmaceuticals to expedite growth in H2 2020 and beyond.
Excellent prospects for product line
Nabiximols of GW Pharmaceuticals has excellent growth prospects to treat spasticity in patients suffering from MS and other health problems. The company will commence Phase 3 clinical study of nabiximols and trials of its other candidates in H2 2020.
Epidiolex generated total net sales of $117.7 million in Q2 2020. Its net sales in the US are $111.1 million. The FDA (Food and Drug Administration) approved Epidiolex for TSC indication. GW Pharmaceuticals expects to commercialize the product in August 2020.
Reimbursement and pricing for Epidiolex in Germany, Italy, and France are underway. GW Pharmaceuticals will initiate a Phase 3 clinical trial of this innovative product for Rett Syndrome in H2 2020.
GW Pharmaceuticals completed Phase 3 clinical trials for Nabiximols for patients with MS spasticity in nations outside the US. It will commence new Phase 3 clinical trials for this innovative formulation in patients suffering from MS Spasticity in the second half of 2020 and the first half of 2021 to get eligibility for NDA submission.
GW Pharmaceuticals will conduct Phase 3 clinical trials of nabiximols for SCI (Spinal cord injury) spasticity this year and next year. It will begin the clinical observation trial in Q4 2020.
Oral solution – Epidiolex receives FDA nod for seizures cure
The cannabis-based Epidiolex, an oral solution, received the nod of the US FDA to cure seizures related to TSC (Tuberous Sclerosis Complex). It is recommended for persons aged one year and above.
Cannabis-derived medicine can be used for patients aged one year and more to treat seizures associated with Dravet Syndrome or LGS (Lennox-Gastaut syndrome).
The rare disease TSC can lead to the growth of benign tumors in important organs of humans and could cause genetic epilepsy.