Lexaria Bio teams up with Cannadips for CBD oral pouch & dip category
Lexaria Bioscience (OTCQX:LXRP) has reached a definitive agreement to provide its patented DehydraTECH technology to Cannadips CBD, the Original Smokeless CBD Dip Brand.
Lexaria’s DehydraTECH technology will improve the dipping experience through its fast-acting, high absorption technology and reduce throat irritation associated with some terpenes.
The licensing agreement grants Cannadips CBD exclusive rights for the US market for 10 years; a renewal option for an additional 5 years; an option to expand the licence to Europe, Mexico and/or Canada; and contains minimum performance provisions in order to maintain exclusivity.
Heska to acquire Covetrus vet diagnostics business
Heska (NASDAQ:HSKA) has agreed to acquire Covetrus’ (NASDAQ:CVET) scil animal care company GmbH, a veterinary point-of-care laboratory and imaging gear maker for $125M in cash. The transaction should close in the next 60 – 90 days.
RTI Surgical up 92% premarket on sale of OEM business
Thinly traded micro cap RTI Surgical Holdings (NASDAQ:RTIX) is up 92% premarket on increased volume in reaction to its announcement after the close yesterday that it has agreed to sell its OEM business to a private equity firm for $480M in cash.
Avrobio on go with study of Gaucher gene therapy
The FDA has signed off on AVROBIO’s (NASDAQ:AVRO) IND for a Phase 1/2 clinical trial evaluating gene therapy AVR-RD-02 for the treatment of Gaucher disease, an inherited disorder caused by the accumulation of a type of lipid in tissues due to the dysfunction in a certain enzyme.
The primary efficacy endpoint of the 16-subject study is change from baseline in GCase enzyme activity at week 52 post-treatment. The estimated primary completion date is May 2021.
After the company put out its 2020 outlook, analyst Eric Joseph pointed out that results from the phase 1/2 study of M254 in idiopathic thrombocytopenic purpura were compelling, with relative potency compared to a more conventional IVIg approach.
He’s increased his year-end target to $30 from $14, now implying 18% upside.
Sell-side analysts are Bullish overall, while the stock has a Quant Rating of Neutral.