MariMed Inc (OTCMKTS: MRMD) has been rocketing up the charts in recent trading from lows of $0.40 to recent highs of $0.70 per share on a surge of trading volume trading 2.3 million shares on Friday alone or about $1.5 million in dollar volume. MariMed has seen a huge transition over the past few years from an advisory firm to a direct owner and operator of cannabis licenses in high-growth states. Revenues increased 139% to approximately $121.5 million in 2021 from $50.9 million in 2020; Total assets increased to approximately $123.2 million in 2021 from $76.4 million in 2020; and Cash and cash equivalents increased to approximately $29.7 million in 2021 from $3.0 million in 2020.
MRMD is northward bound ever since the Company announced the opening of its first dispensary in Maryland. Operated by the Company’s wholly owned subsidiary, Kind Therapeutics USA (“Kind”), the 5,000 square foot, Panacea Wellness-branded dispensary features MariMed’s portfolio of award-winning brands, including Nature’s Heritage craft flower and concentrates, Betty’s Eddies all-natural fruit chews, and Bubby’s Baked soft baked goods. The dispensary is located at 2061 Generals Highway in Annapolis. With the opening of the dispensary in Annapolis, MariMed is a fully vertical cannabis operator in the state of Maryland. The Company operates a 90,000 square foot cultivation and production facility in Hagerstown. MariMed’s branded cannabis products are distributed to virtually all the approximately 100 dispensaries in the Maryland medical cannabis program.
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MariMed Inc (OTCMKTS: MRMD) is a multi-state operator in the United States cannabis industry. The Company develops, operates, manages, and optimizes over 300,000 square feet of state-of-the-art, regulatory-compliant facilities for the cultivation, production and dispensing of medicinal and recreational cannabis. Over the last few years MariMed has transitioned to a direct owner and operator of cannabis licenses in high-growth states. The transition to a fully integrated muti-state cannabis operator (“MSO”) is part of a strategic growth plan the Company is implementing to drive its revenues and profitability. Proprietary formulations created by the Company’s technicians are embedded in its top-selling and award-winning products and brands, including Betty’s Eddies, Nature’s Heritage, Bubby’s Baked, K Fusion, Kalm Fusion, and Vibrations: High + Energy.
The Company markets its high-quality cannabis flowers and concentrates under the award-winning1 Nature’s Heritage brand; cannabis-infused chewable tables and powder drink mixes under the brand names Kalm Fusion and K Fusion; all natural fruit chews under the award-winning1 Betty’s Eddies brand; and brownies, cookies, and other social sweets under the Bubby’s Baked brand. The Company’s cannabis-infused brands have been top-selling products in Maryland and Massachusetts.
MariMed has strategic alliances with prominent brands. The Company has partnered with renowned ice cream maker Emack & Bolio’s® to create a line-up of cannabis-infused vegan and dairy ice cream. Additionally, the Company has secured distribution rights for the Binske® line of cannabis products crafted from premium artisan ingredients, the Healer line of medical full-spectrum cannabis tinctures, and the clinically-tested medicinal cannabis strains developed in Israel by global medical cannabis research pioneer Tikun Olam.
In September MariMed announced an agreement with 42 Degrees, a Michigan licensed cannabis producer and distributer, to manufacture and distribute MariMed’s award-winning brands and products in the state. 42 Degrees currently wholesales products into 340 dispensaries, representing approximately 75 percent of the operating dispensaries in Michigan. The agreement provides initially for the manufacture, sales, and distribution of MariMed’s Betty’s Eddies full-spectrum fruit chews into the adult-use market. The intention longer-term is to roll out other brands in MariMed’s portfolio, including Bubby’s Baked soft and chewy baked goods and Vibations: High + Energy powder energy drink mix.
MariMed Opens its First Medical Cannabis Dispensary in Maryland, Will Host a Grand Opening Event with Local Officials 🇺🇲✌️💚🌿#cannabis$MRMDhttps://t.co/KbH3ciNyhZ
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On October 5 MRMD announced the opening of its first dispensary in Maryland. Operated by the Company’s wholly owned subsidiary, Kind Therapeutics USA (“Kind”), the 5,000 square foot, Panacea Wellness-branded dispensary features MariMed’s portfolio of award-winning brands, including Nature’s Heritage craft flower and concentrates, Betty’s Eddies all-natural fruit chews, and Bubby’s Baked soft baked goods. The dispensary is located at 2061 Generals Highway in Annapolis. More information about the dispensary is available at www.panaceawellness.com.
A grand opening celebration for medical patients and local officials will be held at the dispensary on Tuesday, October 18, 2022. The event will kick off at 9:30 a.m. ET with a ribbon-cutting ceremony featuring remarks from Maryland State Senator Sarah Elfreth (D-Anne Arundel County), Maryland State Senator Brian Feldman (D-Montgomery County), Anne Arundel County Executive Steuart Pittman (D), Annapolis Mayor Gavin Buckley (D), MariMed President Jon Levine, and the Company’s Maryland General Manager Jeff Jones.
“We are proud to serve patients in the Annapolis region with our premium product offerings delivered by our highly trained team,” said MariMed President Jon Levine. “The recent expansion of our state-of-the-art production kitchen in Hagerstown enables us to offer our full portfolio of quality products at a time when the state’s medical cannabis patients are looking for new and innovative offerings. We are particularly optimistic about the future of our business in Maryland as an adult-use referendum is expected to pass in November 2022.”
In addition to Panacea Wellness Annapolis, under state regulations MariMed can own up to three additional dispensaries in Maryland. MariMed also currently owns or manages dispensaries in Illinois, Massachusetts, and Delaware, with additional sites under development in Illinois, Massachusetts, and Ohio. The Company continues to review accretive acquisitions in other legal cannabis states.
With the opening of the dispensary in Annapolis, MariMed is a fully vertical cannabis operator in the state of Maryland. The Company operates a 90,000 square foot cultivation and production facility in Hagerstown. MariMed’s branded cannabis products are distributed to virtually all the approximately 100 dispensaries in the Maryland medical cannabis program.
According to the Maryland Medical Cannabis Commission, the state generated more than $550 million in medical cannabis sales in 2021, with nearly 150,000 registered medical cannabis patients. According to Cowen Research, with a population of 6.2 million, Maryland’s medical cannabis program boasts some of the highest rates of registered medical consumers, and incidence usage and spending, on a per capita basis, among all legal medical cannabis programs in the United States.
Currently trading at a $200,000 million market valuation MRMD has 339,270,387 shares outstanding with 221,712,004 shares in the float. MRMD is an exciting story in small caps, fully reporting and trading on the OTCQX, MRMD is upward bound since the Company announced the opening of its first dispensary in Maryland. MariMed has seen a huge transition over the past few years from an advisory firm to a direct owner and operator of cannabis licenses in high-growth states. Revenues increased 139% to approximately $121.5 million in 2021 from $50.9 million in 2020; Adjusted EBITDA3 increased 144% to approximately $43.1 million in 2021 compared to $17.7 million in 2020; Total assets increased to approximately $123.2 million in 2021 from $76.4 million in 2020; and Cash and cash equivalents increased to approximately $29.7 million in 2021 from $3.0 million in 2020. The Company now has grown operations in Delaware, Maryland, Massachusetts, and Nevada with Dispensaries in Delaware, Illinois, and Massachusetts and Brand Distribution in Delaware, Illinois, Maine, Maryland, Massachusetts, Puerto Rico, and Rhode Island. We will be updating on MRMD when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MRMD.
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Disclosure: we hold no position in MRMD either long or short and we have not been compensated for this article.
Elutia Inc (NASDAQ: ELUT) shares bolstered a whopping 33% today as the company recently shared that they’ve secured about $10.5 million in funding through a private investment round. If all the warrants are cashed in as part of this funding, the total could go up to $26.2 million.
Latest Changes:
Just last week, Aziyo Biologics changed its name to Elutia Inc. Following this change, Elutia made an announcement about selling its Orthobiologics business unit to Berkeley Biologics, a subsidiary of GNI Group Ltd. This move is set to bring in a substantial amount of cash, totalling up to $35 million for Elutia. This sum includes a notable upfront payment of $15 million, plus additional potential earnings of up to $20 million over five years. The deal is expected to be finalized in the fourth quarter of 2023.
This sale is a big step for Elutia, especially in the realm of drug-eluting biomatrix technology (DEB). Elutia is actively seeking approval from the FDA for their main product, CanGaroo RM. This product utilizes innovative biomatrix technology with antibiotics rifampin and minocycline (RM), providing long-term protection for cardiac pacemakers and defibrillators. This tackles a huge market estimated to be worth around 600 million. Elutia is aiming to introduce CanGaroo RM to the market in the first half of 2024.
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Standard Of Care:
Medtronic (NYSE: MDT) stands as the exclusive provider of the antibiotic envelope within the current market. This envelope is crafted using synthetic mesh infused with antibiotics. Back in 2014, Medtronic acquired this technology, making a strategic investment of up to $200 million. Primarily intended for Cardiac Implantable Electronic Device (CIED) revision procedures, this product boasts estimated annual sales in the range of $250 to $300 million.
However, despite its market presence and revenue generation, the Medtronic antibiotic envelope has notable limitations. While it effectively combats infections, its synthetic composition renders it less effective in supporting wound healing. Moreover, it poses challenges in accommodating larger devices like Subcutaneous Implantable Defibrillators (SCID).
Drug-eluting biomatrix (DEB):
Drug-eluting biomatrix (DEB) involves a specialized approach to drug delivery using a biomatrix as a carrier or platform. In simple terms, it’s a technique where a biomaterial matrix, often a biocompatible polymer or similar substance, is used to release drugs in a controlled and targeted manner.
The biomatrix acts as a support structure that can hold and gradually release drugs or therapeutic agents at a specific site in the body, typically over an extended period. This is particularly useful in medical applications where a localized and sustained delivery of medication is necessary.
For instance, in the context of Elutia’s CanGaroo RM, a biomatrix incorporating antibiotics rifampin and minocycline is used to provide prolonged protection for cardiac pacemakers and defibrillators. The biomatrix slowly releases these antibiotics at the surgical site, preventing infections and promoting healing.
DEB technology is gaining traction because it enhances treatment efficiency by ensuring the drug is delivered directly to the target area, minimizing side effects, and optimizing therapeutic outcomes. It’s a promising approach in the field of medical advancements, especially in areas like cardiology, oncology, and orthopedics.
Post-mastectomy Breast Reconstruction:
On top of this, the company also has plans to develop an RM version of its SimpliDerm biomatrix tailored for breast reconstruction procedures. The rate of infections after this surgery is quite high, more than 10%, highlighting a big medical need in a market valued at over $500 million. Elutia is stepping up to address this issue by developing SimpliDerm® RM, which incorporates their unique DEB technology. The funds raised through the private investment round (PIPE) and the sale of the Orthobiologics business unit will not only boost Elutia’s efforts in advancing their drug-eluting biomatrix products for the cardiac pacemaker and defibrillator market, but also for post-mastectomy breast reconstruction.
What’s next:
As mentioned earlier, their biomatrix platform serves two major markets. CanGaroo RM, their upcoming product, is slated for a 1H of 2024 market release and is poised to be a pioneer in a $600 million market. Furthermore, their SimpliDerm RM product utilizes the same proprietary antibiotic-eluting technology found in CanGaroo RM, which serves a 1.6B market according to their presentation deck. They aim to secure an IDE by Q4 2024, and upon achieving these milestones, they plan to venture into neurostimulator markets, particularly in pain management, to further drive their growth.
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ZyVersa Therapeutics (NASDAQ: ZVSA) had a spectacular day on the market, with its stock surging by almost 50% following a significant announcement about one of their promising drug candidates, IC-100. This drug is designed to combat inflammation in the context of Inflammatory Diseases, and the latest data is incredibly promising. For those who are new to this field of investment, we’ve taken the liberty of rephrasing the press release in simpler terms.
The Release:
When you’re dealing with diseases like ALS that affect your brain and nerves, shutting down the inflammasome pathway NLRP3 (a multi-protein that regulates the immune system and inflammatory signaling), is not enough.
To address this, ZyVersa is working on something called Inflammasome ASC Inhibitor IC-100. It’s like a super tool designed to block not just NLRP3 but a bunch of other inflammasome pathways too – up to 12 of them. This helps keep inflammation in check, whether it’s in the central nervous system (CNS) or other parts of the body where inflammation is causing problems.
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In a recent paper published in Frontiers in Immunology, they pointed out that focusing only on NLRP3 might not do the trick when it comes to calming CNS inflammation in ALS and similar diseases. They did experiments with cells and even used mice to back up their point. Turns out, just targeting NLRP3 didn’t stop the release of those pesky proinflammatory chemicals or the damage they were causing in the spinal cord.
The authors of the paper basically said, “Maybe we should aim to tackle multiple inflammasome pathways when it comes to diseases like ALS, where lots of inflammasomes are going haywire.”
The CEO and president at ZyVersa, Stephen C. Glover mentioned “Our research shows that to really put the brakes on inflammation driven by multiple inflammasomes, we need more than just NLRP3 inhibition.” He added that IC-100 is like a superhero in the world of inflammation control. It stops the formation of different types of inflammasomes, preventing the start of the inflammation chain reaction, and also puts a halt to something called ASC specks, which keep the inflammation going. You can dive deeper into how IC 100 works by checking out their website here.
So, in plain speak, ZyVersa is cooking up a promising solution for folks dealing with inflammation-related problems, especially those tied to the brain and nerves. They’re not just focusing on one troublemaker; they’re going after a whole gang to keep things under control.
Overall ZyVersa is a company on a mission to create groundbreaking treatments for kidney and inflammatory diseases, and IC-100 could help them in this mission.
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Creative Medical Technology Holdings, Inc. (NASDAQ: CELZ) has recently seen a substantial intraday gain of over 15% in its share price. Despite the absence of any recent news or filings, this surge could suggest significant progress in the realm of allogeneic cell therapy.
Background:
The company is known for its regenerative approaches in various medical areas, including immunotherapy, endocrinology, urology, gynecology, and orthopedics, and made a significant announcement. In the fourth quarter of 2022,They successfully developed a new allogeneic cell line called AlloStem™. AlloStem™ is derived from human perinatal tissue and includes a Master Cell Bank and a Drug Master File. Now, with FDA approval, their program, known as CELZ-201, is being used in an early clinical trial for type 1 diabetes and will continue to be developed for both type 1 and type 2 diabetes treatment.
Additionally, the company is using the AlloStem™ line for its StemSpine® procedure to help treat chronic back pain. They report remarkable results, including over a 90% reduction in narcotic usage, more than an 80% reduction in pain scores, and over a 50% reduction in the Oswestry score in patients treated with AlloStem™.
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Allogeneic Cell Therapy:
Allogeneic Cell Therapy is a treatment that uses cells from healthy donors to treat patients with otherwise untreatable diseases. These cells can come from various sources, like bone marrow, blood, or umbilical cord blood. This approach shows great promise in the medical field.
Allogeneic cell therapy offers potentially curative options for patients when traditional treatments fall short. While still a relatively new field, ongoing research into allogeneic cell therapies holds great potential for patients suffering from these diseases. Companies like Argan Inc. are also exploring the benefits of allogeneic cells.
With FDA approval and ongoing clinical trials, Creative Medical Technology’s recent developments open doors to innovative treatments that could significantly enhance the lives of those dealing with diabetes and other diseases. The global market for allogeneic cell therapy reached $255.6 million in 2022 and is expected to grow at a rate of 27.4% from 2023 to 2030, emphasizing the importance of continued research. As the company remains dedicated to medical innovation, their efforts have the potential to improve the health outcomes of people worldwide.
Latest Release:
The company recently shared key updates on its financial status and drug pipeline for Q3 2023. The biotech company, known for its regenerative medical solutions, reported being debt-free with $14.6 million in cash and $14.4 million in working capital, sufficient to cover expenses through 2024.
Their advancements in treating type 1 diabetes include FDA clearance for a groundbreaking clinical trial using CELZ-201 (AlloStem™). The company obtained Institutional Review Board approval and partnered with Syneos Health for this study. They also filed for Orphan Drug Designation to tackle brittle type 1 diabetes.
Promising results emerged from the CELZ-001 treatment for type 2 diabetes, demonstrating substantial reductions in insulin requirements with no safety concerns.
A pilot study on the StemSpine® procedure, using donor cells (AlloStem), showed impressive reductions in narcotic usage, pain scores, and improved functionality for chronic lower back pain patients.
Creative Medical Technology’s ImmCelz platform proved efficient, requiring fewer donor cells and yielding high-quality results.
They also collaborated with Greenstone Biosciences Inc. to develop a human-induced pluripotent stem cell (iPSC) pipeline, iPScelzTM, aimed at expediting drug discovery. The development of this cell line is expected to save the company two to three years in research and development time, along with associated expenses. Additionally, it will accelerate its drug discovery program by leveraging artificial intelligence.
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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.