CTT Pharmaceutical Holdings Inc. (OTCMKTS:CTTH) Stock Soars : Company Strengthens Caffeine Patent in USA
CTT Pharmaceutical Holdings Inc. (OTCMKTS:CTTH) was up 40% after announcing that it recently filed a patent application covering Caffeine-containing orally administrable strips.
Market Stats
On Wednesday, CTTH stock surged 40% to $0.0840 with more than 222K shares, compared to its average volume of 15K shares. The stock moved within a range of $0.0530 – 0.0800 after opening trading at $0.0610.
Key Details
The continuation-in-part submission is driven by technology that has already been declared to be patentable by the US Patent and Trademark Office and originates from the company’s previously issued US Patent for comparable orally delivered strips. These strips were created to administer caffeine to the oral mucosa for absorption. The patent covers caffeine-containing dissolvable strips from diverse sources.
Caffeine strips from CTT Pharma dissolve within seconds in the mouth and then enter the circulation, avoiding the digestive system and the liver. This allows the company to add/combine actives like CBD and B12 to its Caffeine strips for faster onset, and improved bioavailability/absorption. CTT could also create its strips in any color or flavor combination. Energy strips are an untapped market in the US, unlike energy and coffee drinks where competition is high.So CTTH is worth watching.
Key Quote
“Unlike coffee and energy drinks which has many competitors, energy strips in the US are an untapped market. This helped with my decision to strengthen our caffeine patents. CTT will look to monetize this patent pending technology with a company looking to enter into the caffeine/energy strip market in the United States.” said Ryan Khouri, CEO of CTT Pharma.
Traders Corner
CTTH stock is trading above the 20-Day and 50-Day Moving averages of $0.0585 and $0.0498 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0472.
