Coronavirus Innovation in Biotech, Hemp / Cannabis, Tech Stocks (OTCQB: $SING) (OTCQX: CRLBF), (NASDAQ: $GILD), (OTC: $CYDY), (NASDAQ: $ZM)
Entrepreneurism Thrives as SinglePoint Inc. Launches USA Made Hemp Seed Oil Infused Hand Sanitizer
Point Roberts, WA and Delta, BC - March 17, 2020 (Investorideas.com Newswire) Investorideas.com, a leading investor news resource covering hemp/ cannabis stocks and coronavirus (COVID-19) stocks issues a snapshot looking at the eruption of innovation in multiple sectors in the face of today's ongoing pandemic. Crisis has always incited innovation, creating winners and losers and this pandemic is creating a global shift never before witnessed. Companies that are agile enough to adapt and recognize the change can also seize opportunities by providing a definite solution; which is what SinglePoint Inc. (OTCQB: SING) is aiming to do by launching Klen Hands - Hand Sanitizer with Moisturizing Hemp Seed Oil, made in the USA.
On March 13th, Friday the 13th, thought to be an unlucky day by some, SinglePoint Inc. (OTCQB: SING) boldly announced the launch of Klen Hands, yet another example of how they have consistently been on top of consumer and industry trends. Already entrenched in the cannabis and cleantech sectors, during this current crisis, SinglePoint immediately saw the need for a crossover into the health sector as shelves are being emptied of hand sanitizers.
According to the press release: "Hand sanitizer is one of the most out of stock products there is in most all retail locations. We do expect to sell out very quickly. As we move into uncertain times, we have developed a product to directly combat the coronavirus. Our hand sanitizer has 62% ethyl alcohol to keep hands klen (clean) as well as hemp seed oil to keep hands soft and hydrated. Sanitize. Hydrate. Repeat."
Klen is currently being produced in SinglePoint's Carlsbad facility and will ship directly to your location. Orders will be fulfilled in the order they are received.
"We are working to develop solutions for both product and technology in order to assist in the effort of combating COVID-19. As many people know our company has deep ties to the Washington State area. We believe we can provide solutions in the near term to help with the dissemination of current, reliable information and in the interim use our facilities to develop products such as hand sanitizer. We will be releasing additional resources for individuals in the coming weeks." - Greg Lambrecht CEO.
Another key trend arising in the cannabis space due to the coronavirus outbreak, is the boom of cannabis delivery services. Cresco Labs (CSE:CL)(OTCQX:CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States recently announced the launch of a home delivery service for medical cannabis patients in the New Hartford area of New York.
"Registered medical cannabis patients can place a home delivery order seven days a week at Sunnyside. Shop with a minimum order of $80 required for delivery service. Free delivery is available for orders of $150 or more. Distributed from Cresco's Sunnyside dispensary in New Hartford, delivery services are available for patients in the following communities: New Hartford, Utica, Marcy, Whitesboro, Oriskany, Clinton, Sauquoit, Frankfurt and Rome."
Sugarmade, Inc. (OTCQB:SGMD), along with the BudCars Cannabis Delivery Service, announced last week a sharp rise in demand for its cannabis delivery service, driving an associated 10% week-over-week rise in total sales, over the past two weeks. The Company believes this dynamic is being driven by the stay-at-home trend that has emerged in many communities around the world in response to the global pandemic outbreak of the COVID-19 disease.
It looks like there will also be a huge uptick in cannabis sales as consumers are buying and hoarding cannabis just like toilet paper and hand sanitizers.
"Retail stores across the United States have seen an influx of traffic as Americans seek to stock up on basic supplies. Cannabis retailers have seen a similar trend, with many consumers choosing to make fewer trips to dispensaries, instead opting for larger, less frequent purchases as COVID-19 fears grip the country," reported a Motley Fool correspondent.
In the pharma and biotech sector we have seen players from big to small announce potential solutions as they race to find a vaccine for COVID-19. Gilead Sciences, Inc. (NASDAQ: GILD), a presumed leader, even by the WHO, announced late February the initiation of two Phase 3 clinical studies to evaluate the safety and efficacy of remdesivir in adults diagnosed with COVID-19 (novel coronavirus). These randomized, open-label, multicenter studies will enroll approximately 1,000 patients at medical centers primarily across Asian countries, as well as other countries globally with high numbers of diagnosed cases, beginning in March. The studies will assess two dosing durations of remdesivir, administered intravenously. The initiation of these studies follows the US Food and Drug Administration's (FDA) rapid review and acceptance of Gilead's investigational new drug (IND) filing for remdesivir for the treatment of COVID-19.
Lattice Biologics Ltd. (TSX-V: LBL) (OTCQB: LBLTF) announced Friday that it plans to evaluate its amniotic fluid concentrate, AmnioBoost, in patients with acute respiratory distress syndrome (ARDS) caused by coronavirus (COVID-19).
AmnioBoost has potential for use in the treatment of ARDS, which is the principal cause of death in COVID-19 infection. Mortality in COVID-19 infected patients with the inflammatory lung condition (ARDS) is reported to approach 50%, and is associated with older age, co-morbidities such as diabetes, higher disease severity, and elevated markers of inflammation. Current therapeutic interventions do not appear to improve in-hospital survival.
CytoDyn Inc. (OTC: CYDY), a late-stage biotechnology company developing leronlimab (PRO 140), a CCR5 antagonist with the potential for multiple therapeutic indications, announced that the Company has submitted an investigational new drug (IND) application to the US Food and Drug Administration (FDA) to conduct a Phase 2 clinical trial with leronlimab (PRO 140) as a therapy for patients who experience respiratory complications as a result of contracting the coronavirus disease 2019 (COVID-19).
Looking at the tech sector, there are multitudes of technology already in place that can be deployed and smart companies are already on it. According to a report from CNBC, "Chinese technology giants are accelerating their efforts in the field of health-care technology in areas from cloud computing to artificial intelligence (AI) amid the new coronavirus outbreak. Alibaba (NYSE: BABA), Baidu (NASDAQ: BIDU), Tencent (OTC: TCEHY), Huawei and DiDi have all launched new health tech features aimed at diagnosing cases and finding a vaccine for the coronavirus."
Drone technology is also being used for delivery and mapping, and companies like Zoom Video Communications, Inc. (NASDAQ: ZM) are expected to see a boost from all the remote workers.
As we self isolate, social distance and stock up, let's be smart as investors and not panic and really look at the bigger picture unfolding; innovation and entrepreneurism at its best.
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