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The latest announcement is out from Pharmadrug ( (TSE:PHRX) ).
PharmaDrug Inc. has signed a definitive agreement to acquire up to a 40% equity interest in Canurta Inc., a biotechnology company specializing in botanical therapeutics for inflammatory and neurodegenerative diseases. This strategic partnership is expected to enhance PharmaDrug’s clinical pipeline and support its growth objectives, while Canurta aims to leverage PharmaDrug’s public market platform to scale its research and deliver value for patients and shareholders. The transaction involves the issuance of common shares and is subject to shareholder and regulatory approvals, with completion expected by early 2026.
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 is expanding its biotechnology footprint through innovative botanical drug development, aiming to enhance its clinical pipeline and support long-term growth objectives.
Average Trading Volume: 114,800
Technical Sentiment Signal: Sell
Current Market Cap: C$1.62M
For a thorough assessment of PHRX stock, go to TipRanks’ Stock Analysis page.