A new type of cannabis product has just hit the Canadian medical market today as Aurora Cannabis Inc. (NYSE: ACB; TSX: ACB) teams up with CTT Pharmaceutical Holdings, Inc. (OTCMKTS: CTTH).
The two companies are now offering an orally dissolvable thin film wafer taken sublingually. The product launched under the brand name Dissolve Strips.
Those strips dissolve directly in the mouth without any liquid or need to swallow a pill and is the latest release from an industry looking to offer more consistent dosing methods for medical customers.
The launch arrives as both medical and recreational cannabis users show a preference for alternatives to standard dried flower and as vape products continue to receive negative headlines while facing bans in various jurisdictions.
Aurora has a 9% interest in CTT Pharmaceutical Holdings, although the company currently holds a warrant allowing that ownership to bump up to 42% in the future.
The release of Dissolve Strips sees a shift at CTT away from developing new product solutions to generating revenue by partnering with licensed producers to see those products land on dispensary shelves and online ordering platforms.
Commenting on the launch of the new cannabis delivery system for medical patients, Aurora’s Chief Executive Officer Terry Booth had this to say:
In other Aurora news, the company recently closed on a $360 million credit facility to keep operations moving forward as a number of major construction projects near completion. After a lengthy period of expanding with new construction, the company is preparing to officially open the Aurora Sun, Nordic Sky, and Aurora Polaris facilities.
Aurora’s stock has seen a major downward shift over the last 12 months, trading in the $10 – $11 range this same time last year just as recreational cannabis usage was about to see nationwide legalization in Canada thanks to the Cannabis Act. ACB is now trading at $3.90 a share as of Thursday afternoon.