Shares of Emergent Health Corp (OTCMKTS:EMGE) closed sharply higher in the previous session.
Market Reaction
On Wednesday, EMGE stock soared 40% to $0.0140 with 18k shares, compared to its average volume of 55k shares. The stock moved within a range of $0.0139 – 0.0140 after opening trade at $0.0139.
Major Move
Company developing and selling regenerative medicine, neutraceuticals, and phytonutritionals, Emergent Health Corp (OTCMKTS:EMGE), on March 2, 2022 announced that the subsidiary PharmaZu implemented an Agreement with DynaCord LLC of Baton Rouge. The agreement will entail co-development and exclusive marketing and distribution of a number of injectable and topical biologic Exosomes for treating joint care, arthritis, wound care as well as inflammation for Pets.
The recorded revenue of Human Exosomes market was USD 174.04 million in 2020. It is anticipated that it would witness a Compounded Annual Growth Rate of 27.89% during the period 2018-2026. During current times of Covid pandemic, there is a surging demand for Exosomes, driving market growth.
2020 witnessed Dog ownership augment by 54% whereas Pet Industry sales reached $100 billion. Industry estimates state that pet spending will reach beyond $275 billion by 2030.
Keyon Janini, CEO of DynaCord expressed excitement on partnering with PharmaZu for providing cutting edge regenerative technologies to biggest markets. Janini added that PharmaZu’s outreach of online veterinary services as well as DynaCord’s breakthrough Exosome technology will ensure access to safe, powerful and effective therapeutics.
James Zimbler, CEO of Emergent said that the agreement will be a game-changer in pet industry allowing to treat pets in a safe, non-pharmaceutical, non-surgical manner for dealing with arthritis, back pain amongst others. Zimbler added that the injectable Exosome products will give veterinarians a potent tool for combating pain and discomfort.
Traders Review
EMGE stock is trading below the 20-Day and 50-Day Moving averages of $0.0208 and $0.0385 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0521.
