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Pharmadrug ( (TSE:PHRX) ) has shared an update.
PharmaDrug Inc. has corrected a previous announcement regarding its acquisition of an equity interest in Canurta Inc., a biotechnology company specializing in botanical drugs for inflammation and neurodegenerative diseases. The corrected figures indicate a total issuance of 83,645,316 shares, with PharmaDrug acquiring a 40% stake in Canurta, while Canurta will own approximately 44% of PharmaDrug’s shares. The transaction is structured in two tranches and includes a clawback provision, with Canurta’s CEO joining PharmaDrug’s board to enhance its biotechnology pipeline.
Spark’s Take on TSE:PHRX Stock
According to Spark, TipRanks’ AI Analyst, TSE:PHRX is a Underperform.
Pharmadrug’s overall score is significantly impacted by its weak financial performance, characterized by zero revenue, high leverage, and negative cash flows. While there is some short-term technical momentum, the lack of profitability and negative valuation metrics pose substantial risks to potential investors.
To see Spark’s full report on TSE:PHRX stock, click here.
More about Pharmadrug
PharmaDrug Inc. is a specialty pharmaceutical company focused on the research, development, and commercialization of natural medicines. The company operates in the biotechnology sector and is involved in creating innovative solutions for unmet medical needs, particularly in the area of neurodegenerative diseases.
Average Trading Volume: 227,272
Technical Sentiment Signal: Sell
Current Market Cap: C$1.62M
See more data about PHRX stock on TipRanks’ Stock Analysis page.