Aphria Inc (OTCMKTS:APHQF) added over $1.25 to its share value, over the last week and continues to experience a trade volume that is well above its average. Analysts claim that the stock is one of the top five cannabis stocks of the year. It should be noted here that Aphria has moved up by over 460.3%, during the current year. Recently, it was revealed that the company has signed a supply agreement with a subsidiary of Tetra Bio-Pharma Inc, PhytoPain Pharma Inc.
The news was published by Tetra Bio-Pharma, who also pointed out that Aphria has a license issued by Access to Cannabis Medical Purpose Regulations, to produce cannabis. It was also stated that the agreement requires APHQF to supply dried cannabis to PhytoPain, for use as an Active Pharmaceutical Ingredient, for PPP001. The drug is an inhalation product, being developed as prescription controlled drug. The agreement also calls for PPP to pay a specified purchase price for the API and a volume rebate, once a milestone has been reached.
Furthermore, Tetra Bio-Pharma also revealed that it plans to market PPP001 worldwide, with Aphria being the exclusive supplier, for the API, for both the development and commercialization phases. It should be noted here that much US regulations, Canada also calls for the implementation of GMP, as well as rigorous quality systems. Moreover, lot-to-lot consistency is also to be demonstrated, prior to manufacturing of the final product.
Vic Neufeld, the CEO of APHQF, expressed his excitement and pride at being selected as an integral part of the scientific research being done by PhytoPain. He claimed that their proprietary and high-quality medical cannabis produce was exactly what gives medical health practitioners the confidence to prescribe cannabis related drugs. It should be noted here that following the agreement, PythoPain can now submit a Clinical Trial Application, with the concerned authorities.
Aphria Inc (OTCMKTS:APHQF) closed at a share price of $4.8, at the end of the November 18 trading session, 0.42% higher than the session before. The stock had a trade volume of 224,960 during the day.