Rhinomed Limited (ASX: RNO) - Nasal cannabis deal with US developer Columbia Care expected for completion in September

  • Sep 20, 2018 AEST
  • Team Kalkine
Rhinomed Limited (ASX: RNO) - Nasal cannabis deal with US developer Columbia Care expected for completion in September
Medical technology company Rhinomed Limited is underway the completion of licensing deal with US-based leading medical marijuana operator, Columbia Care LLC. With this agreement both the medical sector companies aim to jointly develop patented cannabis-based nasally administered medicines to cover consumer and clinical health need in United States. In June this year Rhinomed inked a non-binding term sheet with Columbia Care which underlined the terms for licensing of the Rhinomed nasal platform technology which will enable both the interested parties to jointly develop commercial solutions for nasally delivered medical cannabis along with cannabinoid compounds, analogues and derivatives. Rhinomed has stated that while negotiations are on the verge of completion, the final agreement is likely to be signed before the end of September 2018. Australian nasal respiratory company Rhinomed released Over The Counter (OTC) sales growth US market data for the 12 Months to June 2018. The company told that during this period sales of Nasal Strip category has turned over US$115 million underpinned by more than 80,000 retail outlets across USA. The data revealed that Rhinomed’s sleep snoring technology ‘Mute’ has flagged the fastest growth in Nasal strip category. Mute has shown 299% sales growth during the period, which makes it sit to number 5 in the category. Rhinomed’s tremendous success in ‘Mute’ places the company to widen its scope in sleep and snoring market across the world.  Along with releasing sales data update, the company has also confirmed its global distribution expansion across the US, Canada and the UK region. Rhinomed said following the new distribution agreements it has started receiving initial stock orders from several pharmacies and grocery chains in the USA and Canada as well as from major airport based convenience store retailer in the UK. Confirming more than 200% sales growth in ‘Mute’ and significant progress in licensing agreement with Columbia Care, Rhinomed Limited stock moved up on ASX. The share price of Rhinomed has edged up by 1.961% to $0.260 on 20 September 2018. The stock has seen a performance change of +41.67% over the past one year.

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

 

 

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK