Marijuana stocks continue to trade volatile and Tetra Bio Pharma (TBP.CN) (TBPMF) has been one of the top performers recently. The shares rallied 22% last week and Tetra is well positioned to move significantly higher.
We recently highlighted Tetra Bio and want to provide an update on the company after last week’s move higher.
Continues to Strengthen Management Team
One of the major focuses of Tetra this year has been on its management team and earlier this month, the company added Dr. Bill Cheliak to its Board of Directors.
Dr. Cheliak is CEO of Panag Pharma, a Canadian based bio-tech company focused on the development of novel cannabinoid based formulations for the treatment of pain and inflammation. He has over 20 years of experience as an entrepreneur and brings extensive deal making experience to the company. Dr. Cheliak currently serves as a Director for Solarvest and is Vice Chair of the Government of Canada’s Networks Centers Excellence Standing Selection Committee and Chair of the NCE Monitoring Committee.
Earlier in May, Tetra Bio further strengthened its management team after it announced that Robert Bechard was appointed to the position of Vice President, Finance and Business Development.
A Focus on Cannabis Biotech Treatments
The addition of Dr. Bill Cheliak to the Board comes one-week after Tetra Bio signed a definitive agreement with Panag Pharma for the development and commercialization of novel cannabinoid based formulations for the treatment of pain and inflammation.
Per the definitive agreement, Tetra will have exclusive access to sell the ocular and topical drug products in North America with right of first negotiation for outside U.S. and Canadian territories. In addition, Tetra has a right of first negotiation for future cannabinoid-based products.
Tetra will work in close collaboration with Panag’s team of experts to ensure a rapid and successful development leading to marketing authorization. Panag will continue work in the development of novel products for unmet medical need and Tetra will take the lead in commercializing these novel drug products.
Positioned to Execute
The signing of a definitive agreement follows the submission of a provisional patent application with the U.S. Patent and Trademark Office (USPTO) for a pharmaceutical drug formulation to treat various forms of cancer and ocular disease
Tetra is focused on developing cannabinoid based pharmaceutical treatments for indications that are multi-billion-dollar opportunities and we think these steps have significantly improved the company’s position within the biotech sector. This is a stock to watch and one we suggest putting toward the top of your radar screens.
Disclaimer: Pursuant to an agreement between MAPH and Tetra Bio-Pharma, we were hired for a period of 90 days to publicly disseminate information about (TBPMF) including on the Website and other media including Facebook and Twitter. We are being paid $75,000 (CASH) for and were paid 250,000 restricted common shares of Tetra Bio-Pharma. We may buy or sell additional shares of (TBPMF) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.