On Monday, investors saw Canadian-Israeli biotech company InnoCan Pharma (CNSX: $INNO, $INNPF, $IP4) stock rise more than 35%, the company’s potential continues to grow with their upcoming commercialization in The United States & Europe.
This week, as many major blue-chip stocks fell several points to more realistic evaluations, shares of Canadian-Israeli pharmaceuticals company InnoCan Pharma (CNSX: INNO) surged from $0.35 to $0.60 CAD. The company specializes in merging cannabinoids (CBD), unique ingredients, and smart delivery platforms to create pain-relieving products. As InnoCan’s potential and now stock continue to rise, here is what investors should consider before pressing play.
Over the past year, InnoCan Pharma has worked to fight against coronavirus (COVID-19) pandemic, applied for new patented products, and gained important federal approvals for commercialization in The United States and Europe. The company also holds strategic research partnerships with two of Israel’s top universities – Tel Aviv University and the Hebrew University of Jerusalem.
In 2020, InnoCan’s coordination with Ramot at Tel Aviv University produced an innovative CLX – CBD Loaded Exosome, which utilizes cannabinoids and other active chemicals in order to protect the central nervous system (CNS), including against the coronavirus. In addition, in partnership with the Hebrew University of Jerusalem, the company announced this year their objective to develop a differently paramount CBD-based Liposome Platform Technology (LPT).
Last month, the InnoCan announced it new patent application for an anti-itch product with cannabinoid and effective ingredients to provide relief for insect bites, rash, cuts, burns or relevant allergen exposure. The therapeutic market for pruritus’ relief products is worth tens of billions of dollars in commercial profit.
Unlike most companies in the field, InnoCan Pharma was formed by prominent players in the pharmaceuticals field. The company includes CEO Iris Bincovich, former CEO of Teva (Israel) Ron Meron, and BioTech entrepreneur Yoram Druker. This week, InnoCan announced a major addition to their Board of Directors - Richard Serbin, former Executive Vice President of Corporate Development of Johnson & Johnson. Serbin also served on the Board of Directors for sixteen of the company’s American and foreign subsidiaries.
Since the election of American President Joe Biden, companies using cannabis-based products have gained new steam from investors. In the United States, Biden’s election brings new hope for federal legalization of marijuana and therefore allowing the sale of recreation cannabis and explosion of CBD products into the large and strategic American market. Currently, the sale of CBD-based products is prohibited in Indiana, Kansas, Kentucky, Mississippi, North Carolina, South Carolina, South Dakota, Tennessee, and Texas.
As the rising push for the cannabis market and related products grow, investors can view Serbin’s upcoming involvement with InnoCan Pharma as a significant opportunity for the cannabis-rooted company to become a leading brand and corporate player.
InnoCan has now set its sights on commercialization in major markets, beginning with its approvals from the Food and Drug Administrations in The United States and Europe. These approvals were obtained for the Relief & Go Spray as well as several other lotions, creams, oils at the height of the coronavirus pandemic. In the U.S. and Canada, the company’s leading cosmetic line is called SYNOY™ - a commercial online platform and fully owned subsidiary in North America - with 40,000 units already in the country and are being prepared to go on shelves soon.
In the past few months, the Relief & Go Spray has received good and productive feedback from its expansion into the OTC (over-the-counter) realm, the market will be hungry for more CBD pain-relief products in the future. In Europe, the main product will be called SHIR. Currently, the company has imported an initial stock of tens of thousands of SHIR units ready to be dispatched across Europe, including 35,000 units in Portugal ready for continental distribution.
As InnoCan’s products, including the Relief & Go Spray, are getting ready to hit prominent markets, the company stock’s is already showing great potential. The company presently sits at $0.60 CAD (CNSX: INNO) but is expected to continue to rise to greater heights. After all of these considerations and bona fides, investors should be more than ready to make a few clicks on E-Trade or speak to their broker and enter the CBD pain-relief market.