Peak Pharmaceuticals Inc. (OTC: PKPH), developer of non-prescription cannabinoid products for animals, announced today that its MaxCBD Canna-Biscuits sold out less than 72 hours after its recently announced trial launch. After producing a limited amount to test the market, management is now confident that it can scale up production and add the product as a regular part of its line-up.
“We felt a small production run was the best way to assess consumer interest, and given the response, we want to assure our customers that new product will be available as quickly as possible,” said Peak Pharmaceuticals Inc. CEO Soren Mogelsvang. “A quality product, such as these biscuits, requires a few short weeks to deliver” and also notes “Attention to quality is a hallmark at Peak Pharma, and an integral part of the process aimed at bringing new human products to market later this year.”
Manufacturing of additional inventory is already underway, according to the company’s press release. While the initial success of this new product is certainly bullish for business moving forward, earlier this month, the company also announced that that many of its products are now available on Amazon.com – the world’s largest online retailer. It is presumed that this latest product will shortly enjoy equal availability including online sales via the Canna-Pet website and through select retail locations.
MaxCBD Canna-Biscuits are made in the U.S. with 100% organic, non-GMO, human-grade food ingredients. With a formulation delivering the entire cannabinoid profile of hemp, including CBD, the bite-sized treats are easy to administer at home or on the go. The company now offers six different types of biscuits and seven different capsule products designed for pets.
The company’s goal is to leverage its experience in veterinary products to ultimately produce hemp-based CBD products for humans. Management believes that the MaxCBD launch and the success of its other product lines has positively impacted its timeline for testing and launching its first hemp-based product for humans before the end of the year – a move that could catalyze the stock moving forward.
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