Easton Pharmaceuticals Inc (OTCMKTS:EAPH) shares fell 13.51% on Wednesday to $0.0160 and were flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.02. The company has a market cap of $16.24 million at 932.73 million shares outstanding.
Easton Pharmaceuticals Inc is a development-stage company engaged in various pharmaceutical sectors and others industries. It has a transdermal delivery technology called Viorra Delivery Matrix or VDM, which is incorporated in a line of therapeutic over-the-counter products. Aside from that, the company owns topically-delivered drugs and therapeutic or cosmetic healthcare products focused on cancer and other health problems geared towards female sexual dysfunction, wound healing, pain, motion sickness and other conditions.
Its products are in various stages of commercialization. These include Nauseasol, which is a motion sickness gel, Skin Renou HA, which is an anti-aging wrinkle cream, Kenestrin Gel, which is a is a pain relief gel, Viorra, which serves as an aid to the relief of female sexual arousal disorder, XILIVE, which is an early-stage cancer drug, and FSA drug, which includes a water-based complex polymer matrix.
In a press release this week, Easton Pharmaceuticals Inc announced that its partner BMV Medica SA de C.V. through its host company Ackerman Pharma, has signed a Sales & Marketing Agreement with Gedeon Richter Mexico S.A.P.I. de C.V., which is a Mexican-based company and affiliate of Gedeon Richter Plc, for the treatment of Bacterial Vaginosis in Mexico.
Mexico is a pharmaceutical market representing almost 40% of Latin America, possessing double-digit annual growth rates. The marketing and sales of Gynofit are expected to start in February next year. Gynofit is a natural product treatment for women who are diagnosed with BV or Bacterial Vaginosis, which is condition that affects nearly all women at some point in their lives and is one of the most common reasons for gynecological visits by women.
This Agreement is instrumental for Easton / BMV’s Latin American growth plans.” Mr. Evan Karras, CEO of Easton Pharmaceuticals Inc stated. “This represents a strong strategic relationship for Easton / BMV as Gedeon Richter Plc and its affiliate company, Mexico S.A.P.I de C.V. is a premier international pharmaceutical company focused on Women’s Health, with a presence in more than 38 countries with 5 manufacturing facilities, 29 representative offices, 38 commercial subsidiaries and wholesale companies employing approximately 1000 people.”
Karras went on to say that the agreement adds to their previous distribution arrangements in Central America and the Dominican Republic for their exclusive line of women’s health products. They plan on increasing their distribution channels and sales opportunities for Gynofit in other territories, along with their patented, licensed, and exclusive line of products such as VagiSan and AmnioSense.
The agreement with Gedeon Richter Mexico S.A.P.I de C.V. sets annual minimums in return for granting exclusivity, committing to strong marketing support for Gynofit that could steadily drive sales for the next three years and beyond. In addition, Easton Pharmaceuticals Inc is in late stage negotiations for an international medical marijuana initiative and to acquire a profitable and steadily growing vaporizer company.
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