In the past week, the CTT Pharmaceutical Holdings Inc (OTCMKTS:CTTH) stock has delivered a strong performance and managed to clock gains of as much as 5% amidst considerable interest.
Market Reaction
On Monday, CTTH stock gained 1.67% to $0.0610 with more than 3.8K shares, compared to its average volume of 11k shares. The stock moved within a range of $0.0610 – 0.0610 after opening trade at $0.0610.
CTT Pharma CEO Issues Letter to Shareholders for Updating Nicotine Patent in USA and President Biden’s Menthol Ban
There was no news about the company yesterday but back on April 18 the company announced that it had filed a patent with regards to the orally administrable strips which contain nicotine. The application in question was that of a continuation in part variant and it had been done in the way since CTT Pharmaceuticals had previously been granted patents for similar orally administrable strips. Hence, the product is already deemed to be deserving of a patent.
The company’s Chief Executive Officer had made it a mission to further strengthen the Nicotine Patent portfolio that is owned by the company. He went on to state that the latest product is derived from a smoke free technology that is expected to command considerable demand in the tobacco market in the United States. It was a major new announcement from the company and it is going to be interesting to see if the CTT Pharmaceuticals stock can manage to add to its gains over the coming days.
Traders Review
CTTH stock is trading above the 20-Day and 50-Day Moving averages of $0.0557 and $0.0463 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0469.
