Aphria owns 10 million common shares of Tetra Bio Pharma at cost of $2,300, with fair value of $11,000 as at August 31, 2018.
Excerpt from Aphria’s Q1 report conference call today
We maintain a strong relationship with TBP.
In addition to being a member of their board of directors, including Chair of the Audit Committee, and Aphria being a large shareholder, we maintain a supply contract with TBP for two products which they are performing clinical trials on – PPP001, a compressed dried flower product that is smoked, and PPP005 – an oil based product that is delivered with a syringe in the mouth.
Tetra has many interesting trials going on currently, including a recent announcement of a head-to-head study on pain management for PPP001 against Fentanyl.
In addition to the Fentanyl study, PPP001 is currently in Phase 3, with the end goal being a DIN.
We see enormous opportunity for our relationship with Tetra, both as a supplier and as a shareholder.