Up Or Down? Pharmacielo Ltd (OTCMKTS:PCLOF) (CVE:PCLO)
Pharmacielo Ltd (OTCMKTS:PCLOF) (CVE:PCLO) stock has been moving within a narrow range over the past few months. The stock is down almost 20% for the year.
Market Reaction:
On Monday, PCLOF stock closed lower by 4% to $1.265 with more than 86K shares, compared to its average volume of 61K shares. The stock has moved within a range of $1.2753 – 1.4000 after opening the trade at $1.37.
Major Trigger:
PharmaCielo Makes Initial Shipment to Canadian Life Sciences Company
- today announced that it has made an initial shipment of CBD Isolate (the “Product”) to a Canadian life sciences company that specializes in developing and commercializing proprietary drug-delivery technologies (the “Customer”).
- The Customer intends to use PharmaCielo’s Active Pharmaceutical Ingredients (APIs) for expanded research and development of their innovative, proprietary sublingual product platform.
Key Quote:
“We are very pleased to have partnered with this well-established Canadian life sciences player to take an active role in the development of its next generation innovative drug delivery system,” said Henning von Koss, CEO of PharmaCielo. “A key part of our global B2B strategy is to partner with the right product developers in key markets and get into the supply chain early, based on our high-quality formulations and ability to provide consistency at scale.
While it can take time for a new product to make it to market, by partnering at the development stage, we are following a well-established playbook from more advanced industries such as the pharma, flavour and fragrance markets. We believe that early involvement positions PharmaCielo’s products as an integral part of the value chain, with the potential for long-term margins commensurate with that position.”
