MMJ Reporter- EMH on radar!!
Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) shares closed last week by dipping under the key 50-day simple moving average to finish near a test of the $3/share level. The stock is trading down following a very predictable sell-the-news reaction to the Canadian legalization moment, which hit the tape last week. However, this pullback may be an interesting place to take a look at this rapidly growing name considering new catalysts coming into play. As a case in point, the company recently announced that it has filed 17 provisional US patent applications covering Emeralds unique Defined Dose cannabis dosage forms and formulations. According to the release, Based on proprietary Emerald research, these patent applications are contributing to Emeralds intellectual property portfolio and its intent to develop distinctive cannabis products for medical-use and improved adult-use. The products provide more precise and consistent delivery, dosage, and formulations. Defined Dose cannabis products will, when made available to the public, provide consumers with products currently not available. Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) bills itself as a company that, together with its subsidiaries, produces and sells medical cannabis in Canada. The company has a strong balance sheet, with cash levels far exceeding current liabilities ($72.7M against $26.3M). In addition, the company was formerly known as T-Bird Pharma Inc. and changed its name to Emerald Health Therapeutics, Inc. in June 2015. Emerald Health Therapeutics, Inc. is headquartered in Victoria, Canada. Moreover, Emerald Health Therapeutics, Inc. is a Licensed Producer under Canadas Access to Cannabis for Medical Purposes Regulations. Its 50%-owned Pure Sunfarms in BC is completing a sophisticated 1.1 million square feet greenhouse; its Agro-Biotech operation in Qubec is completing a 75,000 square feet indoor facility. Both facilities are in commercial production. It has also contracted for approximately 500 acres of hemp harvest in 2018 and 1000 acres in 2019 to 2022 with the goal of extracting low-cost cannabidiol (CBD). Emeralds team is highly experienced in life sciences, product development, large-scale agri-business, and marketing, and is focused on developing proprietary, value-added cannabis products for medical and adult-use customers. Emerald is part of the Emerald Health group, which is broadly focused on developing pharmaceutical, botanical, and nutraceutical products that may provide wellness and medical benefits by interacting with the human bodys endocannabinoid system. Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) pulled in sales of $284K in its last reported quarterly financials, representing top line growth of 15.7%. Dropping Into the Basket As we discussed earlier, EMHTF recently announced that it has filed 17 provisional US patent applications covering Emeralds unique Defined Dose cannabis dosage forms and formulations. Even in light of this news, EMHTF has had a rough past week of trading action, with shares sinking something like -20% in that time. That said, chart support is nearby and we may be in the process of constructing a nice setup for some movement back the other way. We expect significant potential cannabis market growth by offering adult users and medical consumers consistent product characteristics, dosing regimens, and alternative methods of consumption, with safety enhanced through GMP-compliant production and enhanced product utility achieved through knowledge of science. Emeralds filing of these patent applications is an important step, said Chris Wagner, CEO of Emerald. Our expanding research and development effort is focused on internal facilities and staff as well as forming key relationships with other cannabis research experts, such as our recently announced agreement with VivaCell Biotechologies Espana. As noted above, the stock has been weakening in recent days. But there are plenty of reasons to see any downside here as an opportunity. https://mmjreporter.com/emerald-health-therapeutics-inc-otcmktsemhtf-should-be-on-the-radar/