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The latest update is out from Ovation Science ( (TSE:OVAT) ).
Ovation Science Inc. announced a non-brokered private placement financing to raise up to $200,000 through the issuance of 4,000,000 units, each consisting of a common share and a share purchase warrant. The funds will be used to advance the company’s business operations and for general working capital, potentially enhancing its market position and operational capabilities.
Spark’s Take on TSE:OVAT Stock
According to Spark, TipRanks’ AI Analyst, TSE:OVAT is a Underperform.
Ovation Science’s overall stock score is low due to severe financial challenges, including declining revenues, negative margins, high leverage, and liquidity issues. Despite some positive technical indicators, the negative valuation metrics and lack of earnings guidance or corporate events further weigh down the score.
To see Spark’s full report on TSE:OVAT stock, click here.
More about Ovation Science
Ovation Science Inc. is a research and development company specializing in topical and transdermal consumer products, including CBD/THC formulations. These products are distributed under Ovation’s brands such as ARLO CBD Beauty and InVibe MD, utilizing their patented Invisicare skin delivery technology. With over two decades of experience in drug delivery, Ovation offers a diverse range of proprietary medical and wellness products, generating revenue through royalties, product sales, and the sale of Invisicare.
Average Trading Volume: 19,212
Technical Sentiment Signal: Sell
Current Market Cap: C$1.23M
Learn more about OVAT stock on TipRanks’ Stock Analysis page.