Welcome to our dedicated page for Ovation news (Ticker: OVATF), a resource for investors and traders seeking the latest updates and insights on Ovation stock.
Ovation Science Inc. develops topical and transdermal CBD/THC and other cannabinoid products through Ovation Science USA Inc. and its patented Invisicare skin delivery technology. The company out-licenses formulations to licensed operators by state or country and also distributes CBD products under its ARLO CBD Beauty and InVibe MD wellness brands.
Recurring news for OVATF centers on patent protection for cannabinoid delivery formulations, license agreements with cannabis operators, product launches in regulated markets, strategic partnerships, and royalty-based commercialization of Invisicare-powered topical products.
Ovation Science Inc. (CSE:OVAT)(OTCQB:OVATF) has announced progress in its topical and transdermal cannabis products using patented Invisicare technology. The company now has over thirty products developed, focusing on health, wellness, and beauty. Ovation aims to expand distribution beyond Nevada to other approved US states and is seeking partnerships with multi-state operators. The topical cannabis market is projected to grow to $4.5 billion by 2025, representing a 540% increase. The company has a strong reputation among consumers and budtenders in Nevada.
Ovation Science Inc. announced significant growth in its cannabis product sales, reporting a more than 70% increase in January 2021 compared to December 2020, marking the highest sales since February 2020. The company's royalty income also reached its highest level in the past year. Ovation focuses on topical and transdermal cannabis products, aiming to expand beyond Nevada. Their patented Invisicare technology enhances the absorption of CBD and THC. The broader acceptance of cannabis and increased tourism are expected to drive further growth.
Ovation Science Inc. reported a significant increase in sales through its Nevada licensee, with January 2021 sales surpassing December 2020 by over 70%. This marks the highest sales level since February 2020, reflecting a potential turnaround in the topical cannabis market. The company's royalty income has improved, and CEO Terry Howlett anticipates continued growth as the economy reopens. Ovation's patented Invisicare technology enhances cannabinoid delivery in its products, appealing to a broad market. The overall cannabis topicals segment is projected to reach $4.5 billion by 2025.
Ovation Science Inc. (CSE:OVAT)(OTCQB:OVATF) announced its U.S. listing on the OTCQB Market effective February 23, 2021, enhancing visibility to U.S. investors. The listing is part of Ovation's strategy to broaden its investor base amid increasing interest in the cannabis sector. Additionally, the company received DTC eligibility, facilitating electronic trading of its shares in the U.S. Ovation specializes in topical and transdermal cannabis products, supported by over 20 years of R&D and proprietary delivery technology.
Ovation Science Inc. reported $180,994 in Q3 2020 revenue, marking a 129% increase from Q3 2019 and an 80% rise from Q2 2020. Over nine months, revenue reached $613,157, up 216% year-over-year. Revenue growth is attributed to DermSafe, a patented hand sanitizer lotion. The product's unique formulation has led to its effective marketing strategy, including independent effectiveness studies against coronavirus. CEO Terry Howlett highlighted DermSafe as a promising revenue stream, positioning Ovation to capture market share from traditional sanitizers. The hand sanitizer market is projected to grow significantly.
Ovation Science Inc. announced an amended Licensing Agreement with Lighthouse Strategies, allowing for the expansion of Ovation’s cannabis products beyond Nevada to more US states. Lighthouse retains exclusive rights to Ovation's THC topical products in Nevada and non-exclusive rights to CBD products. The cannabis market is evolving, with increased sales and legalization across several states, creating opportunities for Ovation. Retail marijuana sales could hit US$12 billion by 2024, and the CBD skincare market may reach US$959 million. This positions Ovation favorably for growth.
Ovation Science Inc. (CSE: OVAT) announced its participation in the 32nd Annual Dermatology Update Conference, scheduled for November 5-7, 2020, in Vancouver, BC. The company will distribute its DermSafe hand sanitizer to all attendees, promoting its non-alcohol formula as a solution to skin issues linked to alcohol-based sanitizers. COO Doreen McMorran will present on advancements in topical cannabis and DermSafe, aiming to foster communication with dermatologists. The conference, attended by local and international physicians, emphasizes the need for sharing medical knowledge.
Ovation Science Inc. (CSE:OVAT) announced the availability of its DermSafe® Hand Sanitizer Lotion on Amazon.ca, enhancing consumer access across Canada. The product, which is alcohol-free and contains chlorhexidine gluconate for persistent protection, is aimed at combating pandemic challenges. With the Amazon listing, Ovation expects quicker deliveries and better accessibility. DermSafe is already well-regarded among users and is backed by Health Canada with Drug Identification Numbers for personal and commercial use. The company asserts that e-commerce is a growing market, with retail sales nearly doubling during the pandemic.
Ovation Science Inc. (CSE: OVAT) will participate in the virtual Gravitas Healthcare Investor Day on October 1, 2020, featuring President Terry Howlett's presentation at 3:45 PM EST. The conference will focus on Ovation's new revenue stream from its DermSafe hand sanitizer, developed to aid in the fight against COVID-19. The event will gather institutional and retail investors, showcasing advancements in healthcare. For more details, visit Gravitas Securities.