Willow Biosciences (CSE: WLLW) (OTCQB: CANSF) on Thursday announced its financial and operating results for the three and nine months ended September 30, 2019. Among other highlights, the company reported that it ended the quarter with around $23.2 million of working capital and $24 million of cash on hand. Willow’s unaudited condensed consolidated interim financial statements and related management’s discussion and analysis are available at www.SEDAR.com or on the company’s website. “Over the past few months, Willow has continued to advance its business strategy and achieved several important milestones,” Willow Biosciences president and chief executive officer Trevor Peters stated in the news release. “We have made meaningful progress on advancing our yeast strain performance and fully expect to meet our projected timing of scale-up development in the first half of 2020. In addition, we have completed the commissioning of our three labs and expanded our team of highly skilled scientists, preparing us for future development. As the market for CBD and other cannabinoids continues to develop, Willow is positioned as a leader in delivering ultra-pure, pharmaceutical grade cannabinoids, at a highly competitive cost for the consumer packaged goods and pharmaceutical industries.”
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About Willow Biosciences Inc.
Willow is a Canadian biotechnology company based in Calgary, Alberta, that produces high purity, plant-derived compounds that provide building blocks for the global pharmaceutical, health and wellness, and consumer packaged goods industries. Willow’s current focus is in the production of cannabinoids for the treatment for pain, anxiety, obesity, brain disorders, among other significant indications. Willow’s science team has a proven track record of developing manufacturing technologies for high purity compounds in pain and cancer treatments. Willow’s manufacturing process creates a consistent, scalable and sustainable product that allows for the discovery and development of new life changing drugs. For more information, visit the company’s website at www.WillowBio.com.
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