CTT Pharmaceutical Holdings Inc. (OTCMKTS:CTTH) has provided a corporate update to its shareholders indicating that it is currently compliant with the OTC Markets filings. CCT Pharmaceuticals is an innovative life sciences company with an IP portfolio in proprietary drug delivery systems.
CTT Pharmaceutical compliant with OCT Markets filings
In a statement to shareholders the CEO of the company Cam Birge stated that CTT Pharmaceutical is currently in a rather quiet period that requires tolerance from its shareholders. He added that CTT pharmaceutical is already compliant with OTC Markets filings that include the latest requirement that were introduced by the OTC on March 15. Mr Burge added that the company management believes that it can undergo an audit successfully in the event it will be asked to do so going forward. During the quiet period the management is looking to complete other few steps to optimize on shareholder value before moving forward.
Regarding the legal action against Rapid Dose Therapeutics Ltd the CEO stated that the management of CTT continues to hold that if the company considers taking its claim to trial then no doubt CTT will prevail. He indicated that the company has appealed the initial decision of the court of not allowing a trial and the company is expecting a decision before the year ends.
CTT Pharmaceutical has continued to make progress with Health Canada regarding the commercialization of products as well as international patent registration. Currently the company’s patent portfolio includes five patents two from the US and there from Canada with several international patent applications still pending in around 50 countries.
Currently Aurora Cannabis Inc. (NYSE:ACB) has an equity ownership of around 8% in CTT Pharmaceuticals and it has a warrant that will enable it to increase its equity ownership by around 42.5% in May 2021.
The company’s patent portfolio covers a nanonized composition administered orally. It can be applied to different delivery systems that include a quick dissolving oral film forming agent that delivers nanonized therapeutics to enhance bioavailability of drugs that are hard to deliver orally.