10:49 AM EDT, 03/24/2025 (MT Newswires) -- PharmAla Biotech ( MDXXF ) , up 5% on last look, on Monday said it has contracted with a third party logistics company specializing in pharmaceutical products to act as its U.S. clinical trial distribution partner.

"As our volume of business in the US grows, we are always looking for ways to optimize our work; with the potential imposition of tariff barriers, we believe that this is even more important. We are pleased to have contracted with an exceptionally capable partner to store and distribute our LaNeo clinical trial materials on behalf of both ourselves and our US clients," said Chief Executive Nicholas Kadysh.

The agreement is non-exclusive, and does not include any provision for sales of LaNeo MDMA. The partner will act on PharmAla's behalf only in the storage and directed distribution of PharmAla's products.

PharmAla recently announced it has secured a permanent and exclusive licensed distribution agreement with Duchefa Farma in the Netherlands.

The company's shares were last seen up $0.01, to $0.20, on the Canadian Securities Exchange.

Price: 0.20, Change: +0.01, Percent Change: +5.26