Ovation Stock Price, News & Analysis

Ovation Science Inc. (CSE: OVAT, OTC PINK/OTCQB: OVATF) is a research and development company focused on topical and transdermal cannabinoid products. Through Ovation Science Inc. and its wholly owned subsidiary Ovation Science USA Inc., the company develops CBD, THC and other cannabinoid formulations that are commercialized through licensing arrangements and under Ovation’s own consumer brands. Its business centers on applying pharmaceutical drug delivery expertise to cannabis-based products for medical, wellness and beauty applications.

Ovation’s formulations are powered by its patented Invisicare® skin delivery technology. According to the company’s disclosures, Invisicare is designed to enhance the delivery of active ingredients to and through the skin and is protected by patents and proprietary formulations. The technology is supported by more than two decades of pharmaceutical research and development and underpins a pipeline of proprietary topical and transdermal products, including medical and wellness creams as well as anti-aging and beauty formulas.

Business model and revenue sources

Ovation states that it develops topical and transdermal cannabinoid products which are out-licensed to licensed operators by state or country. Under these agreements, partners are responsible for regulatory approvals, manufacturing, marketing, sales and distribution in their territories. Ovation reports that it earns royalties on licensees’ sales and revenue from the sale of Invisicare, along with revenue from its own branded product sales. The company highlights multiple agreements in U.S. states and in Canada, reflecting a licensing-driven growth strategy.

In addition to licensing, Ovation distributes topical CBD products under its own brands, including ARLO CBD Beauty (beauty/anti-aging) and InVibe® MD (wellness line). These brands, like its licensed medical cannabis products, are described as being powered by Invisicare technology. Ovation positions these offerings as science-based topicals that leverage enhanced cannabinoid delivery through the skin.

Invisicare® technology and product performance

The company describes Invisicare as a patented skin delivery system developed over more than 20 years of pharmaceutical drug delivery research. Ovation reports that its topical formulations have demonstrated markedly superior cannabinoid delivery in laboratory testing compared with other products. In various disclosures, the company states that comparative studies showed:

• Ovation’s topical CBD formulations achieving CBD bioavailability of up to 82% in laboratory testing, versus approximately 2–3% for competing topical or transdermal products tested.
• In-house studies where competitor CBD creams released less than 2% CBD, compared to approximately 40% CBD release from Ovation’s topical cream over a two‑hour period.
• Topical creams with Invisicare showing around ten times greater release of CBD to the skin and more than five times greater penetration compared to other products tested.

The company contrasts transdermal delivery with oral CBD formats such as gummies, noting that oral products typically exhibit lower bioavailability due to first-pass metabolism in the liver and CBD’s poor water solubility and stability. Ovation states that its Invisicare formulations are specifically designed to address these challenges by improving delivery of cannabinoids through the skin into systemic circulation.

Focus on cannabinoid-based topicals and transdermals

Ovation describes itself as a research and development company focused on the commercialization, patenting and licensing of advanced cannabinoid-based topical and transdermal products. Its products include CBD and THC formulations and other cannabinoids, designed either for localized topical use on the skin or for transdermal absorption into the bloodstream. The company emphasizes science-based, pharmaceutical-grade formulation and drug delivery as key elements of its approach.

Beyond current cannabis formulations, Ovation indicates that Invisicare is a scalable platform that can be applied across multiple active ingredients, delivery formats and regulated markets. It notes potential expansion into wellness, pharmaceutical and other transdermal product categories, as well as topical beauty products using cannabinoids. The company also references development work and patent-pending applications involving glucose-controlling agents and the cannabinoid THC‑V in the context of metabolic health and obesity-related opportunities, within its strategic partnership framework.

Licensing footprint and partnerships

Ovation’s disclosed licensing network reflects a state-by-state and country-by-country strategy. The company has announced exclusive licensing agreements for its topical and transdermal cannabis formulations in several regulated markets, including:

• Nevada – Exclusive licensing agreement with Planet 13 Holdings Inc. for topical and transdermal products. Ovation reports that Planet 13 has exclusive manufacturing, sales and marketing rights in Nevada and that Ovation receives royalties based on wholesale sales. Ovation has also highlighted the launch of a Planet 13-branded topical line in Nevada using its formulations.
• Pennsylvania – Exclusive licensing agreement with PA Options for Wellness Inc. Ovation’s products are co-branded as InVibe® MD and Vytal Options and sold through PA Options’ dispensaries and wholesale channels, with Ovation receiving royalties based on sales.
• Missouri – Exclusive licensing agreement with MidWest Roots, LLC for Ovation’s topical and transdermal formulations. Under this agreement, MidWest Roots is responsible for regulatory, manufacturing, marketing, sales and distribution in Missouri, and Ovation earns royalties based on wholesale sales.
• Florida – Expanded license agreement with Planet 13 to bring Invisicare-based topical and transdermal cannabis products to Planet 13’s network of dispensaries in Florida. Ovation reports that it earns royalty income from Planet 13’s sales in both Nevada and Florida under this expanded agreement.
• Canada – Exclusive licensing agreement with Ripco Processing Inc. for Ovation’s products in Canada. Ripco is responsible for regulatory, manufacturing, marketing, sales and distribution activities in Canada, and Ovation states that it will receive a double-digit royalty on sales with minimum quarterly payments after an initial phase.

Ovation has also referenced supply and distribution agreements with other partners, including Golfer’s CBD Ltd. and VenWell, as part of its broader commercialization strategy. The company notes that it continues to seek additional licensees in other U.S. states and international markets.

Intellectual property and patents

The company emphasizes intellectual property protection as a core asset. Invisicare is described as an in-licensed or patented skin delivery technology protected by patents and proprietary formulations that cannot be duplicated. Ovation has reported a growing international patent portfolio, including:

• A U.S. patent for transdermal delivery of cannabinoids.
• A Canadian patent titled “Composition and method for transdermal delivery of cannabidiol (CBD) and delta9‑tetrahydrocannabinol (THC),” which the company states enhances market exclusivity and supports licensing potential in Canada.

Ovation positions these patents as strengthening its defensible intellectual property position and supporting exclusive licensing agreements, strategic partnerships and product commercialization in major regulated cannabis markets.

Strategic partnerships and development areas

Ovation has an enhanced strategic partnership with Skinvisible Pharmaceuticals, Inc., the originator of Invisicare technology, focusing on cannabinoid delivery in the obesity and metabolic health market. Under this collaboration, Ovation maintains exclusive worldwide rights to manufacture, private label, distribute, market and promote licensed products utilizing Skinvisible’s delivery technology exclusively with cannabinoids. The agreement includes access to proprietary formulations and a patent‑pending application covering transdermal delivery compositions for glucose-controlling agents.

The partnership also encompasses development work involving the cannabinoid THC‑V (tetrahydrocannabivarin), which Ovation and Skinvisible describe as having potential as a therapeutic agent for obesity management and metabolic health, based on in‑house research cited in their communications.

Regulatory and market context

Ovation’s disclosures reference the evolving regulatory landscape for cannabis, particularly in the United States. The company has commented on U.S. rescheduling of cannabis and the potential for programs that could allow patient access to CBD therapies, including topical formulations. Ovation notes that regulatory changes may reduce barriers, support broader research and create clearer compliance pathways for cannabinoid-based products, especially non‑intoxicating topicals and THC‑free formulations.

Within this context, Ovation highlights opportunities to license its topical products to companies seeking to expand in regulated markets and to participate in medical and wellness channels where topical cannabinoid products may be used to address various health and quality-of-life concerns, subject to applicable regulations. The company’s communications consistently include standard disclaimers that its products are not intended to diagnose, treat, cure or prevent any disease and that statements have not been evaluated by the U.S. Food and Drug Administration or Health Canada.

Geographic presence and corporate structure

Ovation states that it has offices in Vancouver, Canada and Las Vegas, USA. Its operating structure includes Ovation Science Inc. and its wholly owned subsidiary Ovation Science USA Inc. The company’s shares trade on the Canadian Securities Exchange under the symbol OVAT and on U.S. OTC markets under the symbol OVATF (including OTCQB and OTC PINK designations noted in various releases).

Position within the cannabis and wellness ecosystem

According to its public statements, Ovation’s role in the cannabis sector centers on research, formulation and drug delivery technology rather than cultivation or retail dispensary operations. By focusing on Invisicare-based topical and transdermal products and partnering with licensed operators and distributors, the company aims to integrate its technology into a variety of cannabinoid product lines across medical, wellness and beauty categories. Its agreements with multi-state operators, specialized medical cannabis companies and Canadian processors illustrate how Ovation positions itself as a technology and formulation partner within the broader cannabis and wellness ecosystem.

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