Shares of CTT Pharmaceutical Holdings (OTCMKTS:CTTH) moved in a range after gaining momentum recently.
Market Reaction
On Monday, CTTH stock slid 2% to $0.0470 with more than 375 shares, compared to its average volume of 9.8K shares. The stock moved within a range of $0.0470 – 0.0470 after opening trade at $0.0470.
CTT Pharmaceuticals Existing Canadian Patent Will Apply to All Psychedelic Applications
CTT Pharmaceutical Holdings (OTCMKTS:CTTH), which has a portfolio of IP in novel drug delivery systems, made an announcement about Canadian law firm Gowlings WLC confirming CIT’s Canadian patent CA2624110 covering Orally Administrable Wafers is applicable to all forms of Psychedelic applications.
The company’s patents granted in Canada offer wide range protection, while covering additional applications in Psychedelics applications including but not limited to psilocybin, DMT, MDMA, LSD and Ketamine. The company holds valuable intellectual property in regards the applicability of its technology across a number of active ingredients.
Gowlings’ legal counsel stated that the patent covers a broad area, as it isn’t limited with respect to including any particular pharmaceutical agent. This patent can cover a film including any additional ingredient, such as a psychedelic drug, cannabinoids, etc.
There are numerous benefits of the CTT sublingual strips, like increased bioavailability of the active ingredient, rapid onset of action and correct micro-dosing. The accuracy of the CTT as a delivery technology has piqued great interest, since this is an area of utmost importance when it comes to the delivery of powerful active ingredients for therapeutic purposes.
CTT is currently engaged in discussions with many companies active in both the medical and recreational spaces. Further announcements are expected in the coming months.
Traders Review
CTTH stock is trading above the 20-Day and 50-Day Moving averages of $0.0391 and $0.0377 respectively. However, the stock is trading below the 200-Day moving average of $0.479.
