TheStreetReports: Health & Wellness Companies in Focus: APPH, VEGA.CN/PLTXD, VBLT, CNNA

April 19 21:09 2023

One of the sectors to have experienced considerable attention in recent times is the health and wellness sector. People all over the world are now looking for solutions for some of the health and wellness-related issues that they may experience. Investors are also watching the companies involved in the sector closely. Grand View Research noted that by 2025 the value of the market could hit $196.87 billion and from 2023 through to 2030, the market could grow at a CAGR of a staggering 25.1%.

AppHarvest (NASDAQ:APPH) – Appalachia-based AppHarvest is a sustainable food company, which is involved in the development and operation of some of the most technologically advanced indoor farms. The farms are powered by artificial intelligence and robotics to build a sustainable and climate-resilient food system.

The farms are designed in such a way that they can use sunshine and rainwater, to deploy 90% less water than traditional farms. At the same time, these farms also produce 30 times what is produced through traditional farming. Last month the company announced its financial results for the fourth fiscal quarter and the full fiscal year of 2022. In the full fiscal year, AppHarvest managed to boost its net sales by as much as 60% from the previous year.

More importantly, it transitioned into a four-farm network in 2022 and that is going to help the company in boosting its sales year-on-year throughout 2023.

PlantX Life Inc (CSE:VEGA) (OTC:PLTXF) (OTC:PLTXD) – The plant-based products industry has grown at a fairly decent rate in recent times and PlantX Life Inc is a company that is the digital face of the industry. It operates an e-commerce platform that offers more than 5000 plant-based products to the North American market. The company offers a wide range of brands to its customers and more importantly, the digital platform makes it possible for anybody to move to a plant-based lifestyle with considerable ease.

The company has been expanding the scope of its network to its fast-growing list of companies that have adopted its e-commerce fulfillment services in the last 30 days and prior.  On April 11 the company announced Good Planet Foods Inc., best known for a variety of plant-based cheeses. On April 5, the company announced adding Hungry Planet Inc., best known for providing high-quality chef-crafter plant-based meats, and on March 22 announced that it had gone into a strategic e-commerce partnership with Vegan Wines, one of the biggest players in 100% vegan wine importing and distribution. All further the optimization of PlantX’s warehousing and logistical capabilities as PlantX is expected to add new products to its offerings at a remarkable pace moving forward.

VBL Therapeutics (NASDAQ:VBLT) – Last but not least, it is VBL Therapeutics that has been in focus among investors for several weeks now. The company has seen its stock fly over the past month and during that period it has managed to deliver gains of as much as 70% amidst heavy interest.

Back on March 14, it announced its financial results for the fiscal year that ended on December 31, 2022. It reported that at the end of the fiscal year, it had cash, short-term deposits, cash equivalents, and restricted bank deposits to the tune of $21.1 million. It was also noted that in March the company had managed to get $7.1 million through the sale of a manufacturing facility. Revenues for the fiscal year stood at $0.7 million, which was a decline from the $0.8 million in the previous fiscal year.

Cann American Corp (OTC:CNNA) – Cann American Corp is another company from the sector which has been in focus for quite a while. Before delving into the latest developments, it may be the right time to get a bit of an idea about the company’s background.

Earlier on in the month on April 6, the company announced that it had got a new satellite office for Prodigy Stem Cell, a subsidiary unit. It was on April 4 that Prodigy Stem Cell reached an agreement for a new lease on a 3000-square-foot office space located in Orlando, Florida. The new satellite office is expected to help Prodigy in serving its clients who are in Winter Park and Orlando areas. It should be noted that Prodigy has already managed to attract several high-profile clients who spend a lot of time training in Winter Park.

It was back on March 1, 2023, that the company managed to complete the acquisition of Prodigy Stem Cell. The acquisition is part of Cann American Corp’s overall strategy to grow into a diversified health and wellness firm. On March 27 the company also announced that in the near term, it was going to be focussed on the growth of Prodigy.

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