CTT Pharmaceutical Holdings Inc. (OTCMKTS:CTTH) Gains Momentum After Letter to Shareholders

CTT Pharmaceutical Holdings Inc. (OTCMKTS:CTTH) gains momentum after announcing the filing of a patent application encompassing nicotine-containing orally administrable strips. It is vital to note that this continuation-in-part application arises from the previously awarded US Patent for orally administered strips and is based on a tech already determined to be patentable by the USPTO.

Market Stats

On Monday, CTTH stock moved up 1.72% to $0.0590 with more than 700 shares, compared to its average volume of 9.6k shares. The stock moved within a range of $0.0590 – 0.0590 after opening trading at $0.0590.

The company has developed the strips to deliver an agent like nicotine for oral mucosa absorption. Notably, the patent claims cover dissolvable strips that contain nicotine from different sources such as organically-derived, non-synthetic and synthetic nicotine.

The company’s new CEO said that enhancing CTT Pharma’s patent portfolio was his priority since their smoke-free tech offers massive prospects in the US tobacco sector. The Biden administration proposed a ban on menthol cigars and cigarettes, which is anticipated to happen in April 2022. The CEO commended the administration for such a bold step considering smoking kills almost 480,000 Americans each year, according to CDC. Therefore CTTH is worth watching.

Traders Corner

CTTH stock is trading above the 20-Day and 50-Day Moving averages of $0.0529 and $0.0440 respectively. However, the stock is trading below the 200-Day moving average of $0.0468.