NetworkNewsBreaks – Willow Biosciences Inc. (TSX
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Posted On: 11/13/2020 3:31:08 PM
NetworkNewsBreaks – Willow Biosciences Inc. (TSX: WLLW) (OTCQX: CANSF) Announces Q3 2020 Results, Operational Update
Willow Biosciences (TSX: WLLW) (OTCQX: CANSF), a Vancouver, Canada-based company focused on manufacturing pharmaceutical-grade cannabinoids via synthetic biology, has released its financial and operating results for the three and nine months ended September 30, 2020. According to the update, Willow Biosciences reported significant advancement in its operations and strong liquidity. The update reads, “The third quarter represented another significant move forward for us, as we completed our first pilot campaign as part of our final development stage before we begin commercial production, which is anticipated to commence around the middle of 2021. From the pilot, and with our well-advanced downstream process, we were able to produce appreciable quantities of CBG as sample material at greater than 99% purity with no detectable THC. We saw significant demand globally for our sample CBG from a variety of cosmetic, food and beverage, and nutraceutical companies looking to qualify our product for commercial purchase in 2021. Building on these results, we plan to run at least one more pilot in the fourth quarter of 2020 to both further optimize our process for commercial production as well as meet the demand for sample material of CBG from potential customers. We are well positioned, both financially and technically, to start producing at scale in 2021 and transition from a research-based enterprise to a company with revenue generating operations.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Willow Biosciences (TSX: WLLW) (OTCQX: CANSF), a Vancouver, Canada-based company focused on manufacturing pharmaceutical-grade cannabinoids via synthetic biology, has released its financial and operating results for the three and nine months ended September 30, 2020. According to the update, Willow Biosciences reported significant advancement in its operations and strong liquidity. The update reads, “The third quarter represented another significant move forward for us, as we completed our first pilot campaign as part of our final development stage before we begin commercial production, which is anticipated to commence around the middle of 2021. From the pilot, and with our well-advanced downstream process, we were able to produce appreciable quantities of CBG as sample material at greater than 99% purity with no detectable THC. We saw significant demand globally for our sample CBG from a variety of cosmetic, food and beverage, and nutraceutical companies looking to qualify our product for commercial purchase in 2021. Building on these results, we plan to run at least one more pilot in the fourth quarter of 2020 to both further optimize our process for commercial production as well as meet the demand for sample material of CBG from potential customers. We are well positioned, both financially and technically, to start producing at scale in 2021 and transition from a research-based enterprise to a company with revenue generating operations.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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