|Bid||1.6000 x N/A|
|Ask||1.6400 x N/A|
|Day's Range||1.5700 - 1.6300|
|52 Week Range||1.3500 - 4.9900|
|Beta (5Y Monthly)||1.49|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov. 23, 2020 - Nov. 27, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3.51|
OrganiGram Holdings (NASDAQ: OGI) is helping to push the boundaries of the cannabis industry. The company announced Monday that it is making a fresh $2.5 million investment into Hyasynth Biologicals, a biotech that uses biosynthesis to manufacture cannabinoids. The deal is part of an arrangement the two companies have, under which OrganiGram may provide three tranches of investment to the privately held Hyasynth.
As an early investor in biosynthesis, Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc. (the "Company" or "Organigram"), a leading licensed producer of cannabis, is pleased to announce it has funded an additional $2.5 million investment in Hyasynth Biologicals Inc. ("Hyasynth"), a private biotechnology company and pioneer in the field of cannabinoid science and biosynthesis. The announcement comes as Hyasynth makes the first sale of CBDa1 produced and extracted from yeast.
Considering how poorly marijuana stocks have performed since the end of the first quarter of 2019, you might find what I'm about to say hard to believe. National agency Health Canada delayed the launch of high-margin derivatives (e.g., vapes, edibles, topicals, concentrates, and infused beverages) by two months.