Todd Denkin is Founder, Chairman, CEO and President of Digipath, Inc. Since joining Digipath, Inc. in 2014, Mr. Denkin moved the company from a pure digital pathology solution provider into a leader in the medical and recreational cannabis testing market.
Digipath Labs’ Las Vegas cannabis testing facility is the number-one testing lab in Nevada. It has been operating since May 2015 and seen a steady increase in clients and revenues.
While maintaining the highest standard for cannabis testing, Mr. Denkin also focuses on expanding the business through licensing agreements and partnerships. This brings the reliability, experience and customer service Digipath Labs is known for to cannabis markets across the country.
Mr. Denkin’s career has been defined by foresight — the ability to spot and take advantage of emerging market trends and navigate new companies into lucrative markets.
In this 3,926 word interview, exclusively with the Wall Street Transcript, Mr. Denkin reveals the strategy for this supplier to the cannabis industry.
“Thanks to the use of recreational cannabis being legally allowed here in Nevada two years ago now, the market has expanded tremendously.
They just released numbers for March of this year, and it was a $59 million month and $11 million more than it was the previous month, and that was all based on recreational cannabis. In fact, the medical numbers are down about $800,000 for the month, but Nevada is spending $1.9 million a day on cannabis products.
It is growing at a rate of about 20% per year. That has definitely increased our sample flow.
There have been expansions done with various cultivators and producers and lots of merging. Lots of big companies are coming into Las Vegas and spending millions and millions of dollars to buy up cultivations, productions and dispensaries.
Everybody is expanding, and everybody wants to service the demand for cannabis products in Nevada.”
“The chief competition is really the 11 other labs that I compete with for samples. How we distinguish ourselves is really through the work of our Chief Science Officer, Dr. Cindy Orser.
She is a big brain in this industry, and she has made lots of discoveries.
She is a serious scientist with 30 years of experience both academically and at the bench.
We offer a 72-hour turnaround time, which is crucial for most producers. A lot of the other labs take five to 10 days to return results, but we think it is very important to get those results back to the customer as soon as possible. We have a very high-capacity lab. We use all Agilent equipment, and that allows us to really keep sample flow going. We can take on really any job necessary.”
Get the complete detail on this company and its prospects, only in this 3,926 word interview, exclusively with the Wall Street Transcript,
East West Bancorp (EWBC) Grows Loans Profitably Thanks to Chinese Trade Exposure
March 04, 2013
Western Digital Corp (NASDAQ:WDC) Has Runway with Growth of Hyper-Scale Data Centers
April 07, 2017
ESI Group SA (EPA:ESI) Participates in Growing Niche that Provides Exclusive Virtual Prototypes to Automakers
August 19, 2013
Cannabis Stock Picks Include the "Starbucks of Cannabis"
April 02, 2021
Canopy Growth (NASDAQ:CGC) and Tilray (NASDAQ:TLRY) are the Professional Cannabis Stock Picks
October 26, 2023
