The three companies, Aurora Cannabis Inc. (ACB), CanniMed Therapeutics Inc. (CMED), and CTT Pharmaceutical Holdings, Inc. (CTTH), announced that they have definitively agreed to provide Aurora with ownership of CTT’s patented oral film strips.
The oral film strips are to be designed as a fast absorbing drug delivery system that rivals traditional medicine delivery techniques, and are a perfect solution for patients who cannot swallow or have difficulty swallowing medication. The strips are placed under the tongue and are formally called Orally Dissolvable Thin Film (ODF).
ODFs do not need water and dissolve in as fast as 5 seconds. The film’s rapid absorption allows for the intended active ingredient to bypass by the liver’s ability to reduce effectiveness of drug treatments.
The companies have agreed to CanniMed taking the six patents related to the oral film strip. This means Aurora will have ownership of the patents since Aurora owns CanniMed.
ACB stock saw a significant increase from the 3-way agreement announcement made on the 16th of April. The stock hit a peak of $8.93 CAD on the 16th and has decreased by 13.55% in 10 days.
CMED stock had a very similar day of trading to ACB on the 16th. The stock increased to a peak of $34.72 CAD and has also decreased in the 10 days after by 14.63%.
CTTH stock would also increase by 30.77% from the 17th to the 18th. Since the 18th the stock has decreased 26.47% which leaves 4.3% remaining in increased value.