Shares of Halberd Corp. (OTC:HALB) were one of the biggest gainers in Thursday’s trading session and closed higher by 34.50%, 4.5x the average 60-day volume.
On Wednesday, the company was in the news cycle after it emerged that it had signed an agreement with CrodenHealth.com in multiple aspects. It was revealed that the company and CrodenHealth had reached an agreement for the production, marketing, sales, and distribution of the patented low-dose naltrexone combo offering from Halberd across the world. As per the terms of the agreement, CrodenHealth.com had also been provided with the right of first refusal pertaining to products that would be produced in the future by Halberd from its development pipeline.
In the news release, it was also revealed that the Chairman of the Board at CrodenHealth, Peter Croden, had considerable experience in the pharmaceutical industry, having worked in the industry for more than three decades. The cumulative experience of Peter Croden, along with that of Brad Croden, his son, and Todd Croden, his nephew, spanned more than five decades in the pharmaceutical industry. In the partnership with Halberd, CrodenHealth would be involved in efforts for the development of joint ventures and funding, in addition to drug certification efforts.
The Chief Executive Officer of CrodenHealth Brand, Croden, spoke about the deal yesterday. He noted that everyone at the company was excited at the opportunity to monetize the current as well as the future intellectual property of Halberd.
It would help CrodenHealth develop new revenue streams, which would be profitable as well. He concluded by noting that the agreement was the start of a long and mutually beneficial relationship. The Chief Executive Officer, President, and Chairman of Halberd, William A. Hartman, stated that CrodenHealth had an excellent track record of similar work with major pharmaceutical companies and boasted of a massive network too.