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Aphria (APHA) Investment Tetra Bio-Pharma (TBP, TBPMF)Corrects Its Revenue Upward 6X

TBP announced a news correction on March 8th, 2021 that "In the statement attributed to DanCann Pharma's CCO John Morell Frellsen, the estimate of peak sales by 2026 is cited at $55M DKK. In fact, the estimate of peak sales by 2026 is $55M USD."
<tab>The difference in the Danish Kroner and the US Dollar is 6.15 times higher.</tab> This effectively raises market expectations for the deal by 6.15 times.</indent> The agreement also includes upfront and milestone payments of up to $2.25 Million CDN and a confidential royalty level on DanCann net sales for three drug products, Reduvo™ Adversa®, QIXLEEF™ and ENJOUCA™, in Denmark, Norway, Sweden, Finland, and Germany.

The market was very upbeat on learning the news, driving shares to one of the company's all-time high volume days, with almost 18 million shares exchanging hands in Monday's trading session, including Canadian and U.S. trading. That's 10X current normal volume. In February TBP previously announced "the signing of a Letter of Intent with DanCann Pharma A/S ... for the exclusive distribution of Reduvo™ Adversa® (an enhanced dronabinol that avoids the negative effects of first-pass liver metabolism, like headaches, nausea, and vomiting, and QIXLEEF™ (the first smoked botanical cannabis to conduct Phase 1, Phase 2 and Phase 3 clinical trials in the world) in Denmark, Norway, Sweden, Finland, and Germany. A typographical error had put the value of revenues in Dutch Kroner when it should have been in U.S. dollars. The stock market appears to have liked the correction news.

The partnership arrangement also includes sales of TBP's over the counter (OTC) medicinal cannabis product ENJOUCA™, which is based on the Qixleef formula and clinical trials. It is effectively the same product but taking advantage of the ability to enter the OTC non-prescription market. QIXLEEF is intended for the prescription market and is on target to be the first prescription medical cannabis, and backed my clinical trials, in the world.
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