Clever Leaves and SOMA Pharmaceuticals Partner to Revolutionize Medical Cannabis in Europe

On May 25, 2023, Clever Leaves Holdings Inc. announced its partnership with SOMAÍ Pharmaceuticals to supply its operations in Portugal with EU-GMP certified CBD extracts from Colombia. The five-year agreement is set to revolutionize patient access to pharmaceutical-grade cannabis products throughout Europe.

As part of the deal, Clever Leaves will provide EU-GMP pharmaceutical-grade APIs and CBD extracts to SOMAÍ for further processing into finished products. SOMAÍ Pharmaceuticals is a renowned manufacturer of cannabis products, specializing in high-quality medical-grade pharmacological applications.

The first commercial shipments have already been dispatched to Portugal, adding to the more than 15 countries that Clever Leaves has exported to from its EU-GMP certified facility in Colombia. The partnership is expected to bolster Clever Leaves’ position in Europe’s rapidly expanding medical cannabis market.

This groundbreaking collaboration aims to simplify patient access to pharmaceutical-grade cannabis products throughout Europe. With Clever Leaves’ expertise and SOMAÍ’s manufacturing capabilities, the partnership is poised to revolutionize the medical cannabis industry.

CLVR Stock Opens Slightly Higher at $0.26 with a Market Cap of $11.4 Million

On May 25, 2023, CLVR stock opened at 0.26, slightly higher than the previous day’s close of 0.25. Throughout the day, the stock traded in a range of 0.25 to 0.27, with a volume of 315,131 shares. The market cap of CLVR is $11.4 million.

Clever Leaves Holdings Inc: Positive Price Forecast but Investors Remain Cautious

On May 25, 2023, Clever Leaves Holdings Inc (CLVR) had a median target price of 0.80, with a high estimate and a low estimate also at 0.80. This indicates that the one analyst offering a 12-month price forecast for CLVR believes that the stock price will increase by 201.32% from the last price of 0.27.

Despite this optimistic forecast, the current consensus among one polled investment analyst is to hold stock in Clever Leaves Holdings Inc. This suggests that investors are cautious about the company’s future performance, despite the positive price forecast.

Looking at the current quarter’s earnings per share, the company reported a loss of $0.09, which is not unexpected for a company in the early stages of growth. However, the company’s sales for the quarter were $5.0M, which is a positive sign that the company is generating revenue.

Investors will be eagerly awaiting the company’s next reporting date, which is August 10, 2023. This will be an opportunity for the company to provide an update on its financial performance and future growth prospects.

Overall, the positive price forecast for CLVR on May 25, 2023 suggests that the company has the potential for growth, but investors remain cautious. The upcoming earnings report will be an important milestone for the company, and investors will be closely monitoring the results.

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