Panacea Life Sciences (OTCMKTS:PLSH) Launches Innovative New CBD Horse Paste
USA-based cannabinoid research and certified GMP manufacturing company, Panacea Life Sciences (OTCMKTS:PLSH), on April 12, 2022 announced launch of its new Calmolyte CBD Horse Paste.
As per CBD Pet Market Size and Growth Report by Grand View Research, global CBD pet market size was $125.00 million in 2020. It is expected to witness a CAGR of 58.9% from 2021 to 2028. The firm feels that the opportunity is ripe to help equine segment and capitalizing on quick market growth.
Market Stats
On Tuesday, PLSH stock moved down 8.62% to $0.4249 with more than 1K shares, compared to its average volume of 3.8k shares. The stock moved within a range of $0.4249 – 0.4249 after opening trading at $0.4249.
James Baumgartner, Panacea’s Chief Science Officer said that the firm has spent considerable time in product development by working with partners at Colorado State University. James said that the company has developed an effective and naturally calming product for horse owners. The Paste is made to give relief for everyday stresses for horses. Calmolyte may facilitate in easing stress levels as well as inflammation naturally.
Panacea’s Director of Research and Development, Doug Grego said that the firm was looking to make a product enabling flexibility to include different vitamins and minerals.
The paste has ingredients like B vitamins as well as minerals encouraging water consumption as well as replenishing electrolytes lost by a horse. Furthermore, there is even 1000mg of CBD and Magnolia extract, having anti-inflammatory and antioxidative properties for lowering pain.
Key Quote
“We have spent a year in product development working with veterinarians and our partners at Colorado State University to develop an effective, naturally calming product for horse owners,” comments James Baumgartner, Panacea’s Chief Science Officer.
Traders Corner
PLSH stock is trading below the 20-Day and 50-Day Moving averages of $0.48 and $0.60 respectively. However, the stock is trading below the 200-Day moving average of $1.55.
