Khiron Life Sciences Corp (KHRNF)

[kahlua]

KHRN vs PCLO and BBM is very much an apples to oranges comparison as khiron is a B2C business and the other two are pursuing the B2B market. And while both are fraught with distinct challenges, the B2C strategy is truly the tougher one as it requires a level of execution and success all the way along the supply chain including the downstream side (arguably the most costly and timely in the chain) where cultural de-stigmatization, doctor and patient education, accessibility, marketing/distribution/delivery, product differentiation, customer/patient satisfaction and retention must all be ticked off in the success category to show real topline progress. Khiron has a significant first mover advantage in Columbia for now but the growth trajectory so far looks more like that of a marathon instead of a sprint. The B2B model is more straightforward, less capex intensive (once cultivation and extraction is built out) since the downstream side is white label, and so the B2B model is garnering a premium valuation over B2C, at least in Latam. All imo