Canadian Stocks That Surged Highest Today: $BABY $CRDL $TER

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Else Nutrition Launches New Nutrition Product for Toddlers In North America

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Else Nutrition Holdings Inc. (TSX:BABY) was amongst the top gainers in yesterday's trading session gaining 5.73%. The company has launched the first phase of its Marketing campaign behind the launch of its plant-based Complete Toddler Nutrition product in North American. Already Else has engaged around 50 influencers covering various social media channels with a following of over 3.5 million followers for the campaign. The company picked the influencers following their focus on parenting, health, and vegan eating as well as baby food communities.

Also, the company recently launched a novel protein source for toddler nutrition over a year with a proprietary sustainable and clean production process after 120 years.

Cardiol Therapeutics Commences First Phase CardiolRx(TM) Study

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Cardiol Therapeutics Inc. (TSX:CRDL) was also another stock that gained most in yesterday's trading session jumping 4.91%. The company has commenced its Health Canada-approved first phase CardiolRx(TM) clinical study. CardiolRx offers extra strength formulation for pharmaceutical cannabidiol and has been formulated to offer high standard purity, stability, and consistency in the industry.

The phase 1 clinical study will assess tolerability, safety, and pharmacokinetics of single doses followed with multiple days CardiolRx ascending doses which will be administered orally to 55 healthy volunteers in fed and fasting states. The company will complete the study in Q4 2020 and it believes that it will represent the first approved high concentration cannabidiol formulation study containing less than 5 ppm THC.

Terrascend Reports 169% Growth In Net Sales In Q2 2020

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Another stock that gained most in yesterday's session is Terrascend Corp. (TSE:TER) which was up 4.22%. The company had a strong Q2 2020 in which it reported a 36% QoQ and 169% YoY growth in net sales to $47.2 million. Gross Margin increased 56% while adjusted EBITDA was up 131% QoQ to $11.4 million. Cash flow from operations was $10.4 million and for the full year, the company expects net sales of $192 million.

The company has also announced the results of its annual general meeting in which directorship nominees in the management circular of July 14, 2020, were elected as directors. Also, shareholders at the meeting approved the re-appointment if MNP LLP as the auditor of the TerrAsscend.

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