Core Insights - Wellgistics (WGRX) shares surged over 300% following the announcement of a non-binding letter of intent with Datavault (DVLT) for a new initiative called "PharmacyChain" [1] - The PharmacyChain initiative aims to utilize blockchain technology to digitize prescription tracking, enhancing transparency and efficiency in pharmacy operations [3][4] Company Developments - The partnership with Datavault is expected to lend credibility to Wellgistics' technology rollout and indicates a shift from being a traditional distributor to a health-tech innovator [4] - Wellgistics has proposed a revenue-sharing model with pharmacies, potentially creating a recurring income stream for the company [4] Market Context - Despite the recent surge, WGRX shares are still down nearly 85% from their six-month high reached in May [2] - The PharmacyChain initiative is currently in an exploratory phase, with no binding commitments or detailed financial disclosures, which raises questions about its future commercial success [6] Investment Considerations - Wellgistics is characterized as a micro-cap company with minimal revenue and no history of sustained profitability, making it a risky investment [5] - The stock does not currently receive coverage from Wall Street analysts, which may deter potential investors [8]