Peak Pharmaceuticals Inc. [stockquote symbol=PKPH], a leader in the research, development, sales and marketing of safe, hemp-based supplements for both humans and animals, recently announced that its research lab was ramping up R&D activities. As well, Peak Pharmaceuticals has announced that their Canna-Pet™ product line is being readied for Amazon.com distribution, and that a public survey just concluded by the Company (considered to be an industry first), was heralded as a significant success in a recent first quarter shareholder update issued this week.
“Our company is growing, and with current research and development activities aimed at launching our first human health product later this year, we expect to continue increasing revenues from product sales,” said President & CEO Dr. Soren Mogelsvang in a recent press release. “Along this line, expansion into new channel markets for our animal products is an important step towards targeting a broader segment of consumers.”
After harvesting its first hemp crop last year, the company established a research lab at the BioScience Park Center located on the Anschutz Medical Campus at the University of Colorado, Denver. Management recently acquired additional scientific equipment and plans to ramp up research at the lab, which will be geared toward testing and producing hemp-based supplement products leveraging its in-house supply.
The company also recently expanded production capacity for its Canna-Pet™ products. While its products are already for sale in select retail and online locations, including veterinary clinics, management hopes to expand the distribution channels to include Amazon.com in the near-term, which is the largest online retailer in the world with an extensive reach.
Finally, the company recently completed a customer survey geared toward pet owners to evaluate its products and marketing efforts moving forward. Management suggested that the response to the survey exceeded their expectations and the data will be invaluable in developing future products and marketing strategies.
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