Cannabis biopharmaceutical company Tetra Bio-Pharma (Tetra Bio-Pharma Stock Quote, Chart, News TSXV:TBP) is setting up for a big year in 2020, according to Paradigm Capital analyst Corey Hammill, who reviewed the company’s latest news release in an update to clients on Tuesday.
There’s no way of getting around it: the past 14 months have been dismal for shareholders of Tetra Bio-Pharma.
TBP had climbed to a high of $1.42 per share by September of last year before starting on a downward skid that has yet to stop. Currently trading at $0.20 per share, TBP has been hit by the sector-wide selloff playing out in the cannabis space, where many companies — from licensed producers to extraction companies to biotech companies — have seen their share prices cut in half in recent months.
Ottawa-based Tetra Bio-Pharma focuses on cannabinoid-based drug discovery and development and has a subsidiary, Tetra Natural Health, which focuses on developing and commercializing natural health and self-care products and hemp energy drinks. The company has provided a number of recent updates on its product line, including an update on its Awaye topical product for pain relief which TBP is planning to market globally.
Multiple catalysts for Tetra Bio-Pharma in 2020, analyst says…
Management reported on October 30, 2019, that it has completed the development of two OTC DIN products, one for the treatment of hemorrhoids and the other for temporary pain relief for a number of ailments. Expecting to release the products into the US market in 2020, TBP is also expecting to submit non-prescription drug applications to Health Canada for the products by the end of November, 2019.
Also in October, TBP updated on its CAUMZ Kit, which includes a vaporizer and two CAUMZ capsules, a cannabinoid-derived medicine using synthetic THC and CSB currently in Phase 3 development for the treatment of pain and inflammation. The company announced that the US FDA had determined that the CAUMZ Kit can be evaluated as a combination drug/device product and has been assigned to the Center for Drug Evaluation and Research (CDER) for premarket review and further assessment.
Altogether, recent updates have laid out a clearer vision of the company’s goals in 2020, according to Hammill.
Along with the advances on CAUMZ, Hammill points to the launch of the company’s OTC and natural health product portfolio as pivotal.
“The Awaye and cold sore creams are already approved natural health products by Health Canada and are scheduled for commercial launch in Q1/20. The other topical pain and hemorrhoid creams will be submitted to Health Canada and the FDA as OTC products in the coming months, with commercial launches in both countries expected in the first half of 2020,” says Hammill.
“With multiple product launches, clinical readouts and regulatory filings planned for next year, we see 2020 as a potentially breakout year for TBP. This contrasts with most other cannabinoid-derived pharmaceutical companies that are still in the early stages of their product development. With its product development pipeline in focus, we eagerly await announcements on the company’s commercial and distribution partners, who will be vital for its long-term success,” he writes.