Shares in Callitas Health Inc (CNSX:LILY) have had a good run of late, adding around 26% since the new year.
The health and wellbeing group, which boasts a number of products, had an eventful 2017, which included parent company M Pharma Inc, changing its name to Callitas Health Inc in September, alongside a share consolidation.
In a wide-ranging letter to shareholders in the same month the group told investors: "Callitas has now advanced our mandate over the past 15 months by expanding and diversifying our treatment portfolio within our focus areas, adding significant revenue to the bottom line and attaining FDA pathway approval for our C-103 project, and pending for our Extrinsa product.
"Our team continues to grow with the restructuring of our Board of Directors in December and the addition of a COO, CFO, Director of Brand Management and now, Director of Sales and Marketing."
New interim boss..
And early this year chief operating officer James Thompson was named as interim president and chief executive after it emerged Gary Thompson was temporarily stepping down from the two roles due to ongoing health issues.
Thompson was previously the managing member at 40 J’s LLC, the private healthcare development group whose primary assets were acquired in early 2017 by Callitas.
Efforts in 2018 have so far largely focused on growth and potential of the product portfolio.
Last month, it hired Freyeur & Trogue (F&T) to provide development consulting to help optimise its product portfolio development and commercialization.
It also said renowned sex and relationship researcher and therapist Dr Laura Berman had joined the firm as chief health advisor.
Making progress with Extrinsa
And notably, late last year, Callitas received a successful response from the US FDA on its pre-investigational new drug (IND) application for its Extrinsa topical gel to treat female sexual dysfunction (FSD), causing it to talk about potential plans to kick off clinical trials in the first quarter of 2018.
The firm has said previously it reckons this (Extrinsa) could be a US$1bn opportunity; Addyi, the only drug currently approved for the treatment of female sexual desire disorder was purchased by Valeant Pharmaceuticals (NYSE:VRX) from Sprout for more than US$1bn in 2016.
Valeant had estimated that sales would ramp up to US$1bn annually for this drug, and it makes no claims to treat orgasm disorders, so the potential market for Extrinsa should be higher.
Elsewhere, ToConceive is the group's fertility enhancing product launched in North America, for which the group has high hopes.
It's FDA cleared and clinically proven to increase a woman’s own natural conception lubrication, called transudate.
C - 103 is the reformulated weight loss treatment, which was Orlistat (which had unwelcome side effects) and the firm has targeted US$500mln in the US market alone as first year revenues, once it is approved by the FDA.
The firm's partner on the treatment is Camargo Pharmaceutical Services and the aim is to launch Phase II dose finding studies, solidify the chemistry and plan the non-clinical testing required by the FDA.
"Business plan development is complete and partnership discussions are underway to drive pivotal clinical trials for this promising new weight loss drug formulation," the group said late last year.
In November, the group said it had pending patenting status from the US patent office concerning the technology concerning cannabinoids branded as CannaMint Strips by Callitas.
"The direct distribution of cannabinoids does not fit into our Callitas business model, but licensing this technology to manufacturers and distributors in North America advances our goal of improving health and wellness," said Thompson.
So with a broad portfolio and high hopes, there is much to potentially look forward to from Callitas this year.
Shares are up 6.45% to C$0.33.