A5 Laboratories Inc (OTC:AFLB) added nearly 14% over the last trading session as the company submitted its Establishment License application to Health Canada.
This is an important step required to legally manufacture and conduct other operations with pharmaceutical products as a Canadian drug establishment. Still, the company only filed the application, not yet received the license. The company’s CEO stated it should come in the next one to three months – that’s the guideline for the stockholders to look forward to, expecting another rally in the share price.
The stock was promoted countless times in the past, and consequently the share price never held the high ground for long. The newest development seems legit, but it doesn’t change the game that much.[BANNER]
AFLB still has not improved its financial position. The company simply took a necessary step toward becoming a registered drug producer. Stock price action got a bit heavier, but it’s still locked in a trading channel and with no fundamental changes on the horizon the situation isn’t likely to change.
A5 Laboratories has a production agreement with Zabolotny Institute of Microbiology, under which the institute should aid the company in producing the first interferon products for testing purposes. On its own the company doesn’t have the necessary equipment.
