Bellus_Health_-_Chart.pngThe managers of BELLUS Health Inc. (TSE:BLU), (PINK:BLUS) are doing what they can to revitalize the company’s shares and it seems like their efforts are successful indeed.

Last Tuesday BELLUS announced the sale of all issued and outstanding shares of the company’s wholly-owned Canadian subsidiary OVOS Natural Health Inc. for a total of $1M to Advanced Orthomolecular Research (“AOR”).

Pursuant to the Agreement, BELLUS Health is granting AOR exclusive distribution rights for VIVIMIND in Canada and will be supplying AOR with the product at a pre-agreed transfer price. BELLUS Health retains all rights to VIVIMIND in other parts of the world. 

VIVIMIND is a patented natural health product commercialized by BELLUS and supporting the hippo-campus, a region in the brain responsible for memory and learning. 

No wonder that the company’s President was more than delighted about the deal: “… we are pleased to enter into a License and Supply Agreement for Canada with a leading provider of innovative nutraceuticals such as AOR”.

The news had immediate impact on the share price and it began to rise gradually. The peak was during the last two days when BLU almost doubled its value, reinforced also by heavy trading volumes. Yesterday, the price climbed to $0.36 during the session, or about 91% of the yearly high set in mid-December.

BELLUS Health is a development-focused health company concentrated on products that provide innovative health solutions and address unmet medical needs. BELLUS Health’s activity is focused primarily on the development of promising therapeutic products.

Bellus_Health_-_Logo.pngNo doubt, the company has future potential. Probably, the investors’ enthusiasm can move the price even further up in the coming days. 
  
It is not very clear, however, whether the rise will hold for a longer period of time. BELLUS financial reports reveal some negative trends, which probably press the price downwards. As of Sep. 30, 2010 the company had approximately $8M in cash compared to $14M on Dec. 31, 2009. For the nine-month period ended September 2010 the net loss amounted $16.3M, which is a 363% increase in comparison with the same period last year.