Avicanna is currently up trading at $1.10. The 52-week range for the stock is $0.66 - $2.65.
Avicanna (AVCN) is a Canadian biopharmaceutical company that is presently moving the medical cannabis industry forward with the new RHO Phyto line. This product line was created for patients who would rather administer medication orally or topically as opposed to the conventual method of inhalation. The RHO Phyto product line includes creams, gels, oils, soft-gel capsules and sprays. The current CEO, Aras Azadian, had a vison that this product line will put Avicanna in a position to fill a gap in the industry by offering more diversity in product administration to patients. That being said, he also believes these products will be more effect and effective, while satisfying the needs of the patients. This thought process can be attributed to the fact that there is often a lack of consistency for cannabis products, and many goods in this particular market are lacking dose accuracy and consistency. The RHO Phyto product formulations were created in order to maintain consistent dosing through the products and increased absorption. It is worth mentioning this product line is exclusively distributed through Medical Cannabis by Shoppers Drug Mart as a part of a partnership.
Overall, the RHO Phyto product line addresses two key issues that are present in the medical cannabis industry. First off, Avicanna is offering diversity in delivery forms with the RHO Phyto product line. Previously, the industry lacked such diversity as most patients would take their medication through inhalation or eyedrops. In addition, this product line aims to offer increased dosing consistency. This could provide a competitive advantage for Avicanna going forward in 2021.
For more comprehensive information on the RHO Phyto product line, here are two fantastic links.
Here are some other highlights:
- Avicanna is expanding its distribution network in South America via commercial partnerships in Ecuador. Avicanna has an exclusive agreement in place with Alliancepharma presenting the opportunity to take advantage of the upcoming Ecuadorian regulations for cannabis-based products. Hopefully this will allow for the registration and commercialization of Avicanna’s consumer and pharmaceutical products in the Ecuadorian market for 2021 or shortly beyond.
- Raymond James anticipates a large upside potential in 2021. This article highlights that despite recent equity raising which creates dilution, it will aid Avicanna in breaking even by 2022.
Avicanna Telegram: https://t.me/Avicannainc