In this market news, FSD Pharma Inc. (CSE:HUGE), one of the Canadian marijuana stocks, said it has launched a pilot clinical study for the treatment of irritable bowel syndrome (IBS)
SmallCapPower | November 7, 2018: FSD Pharma Inc. (CSE:HUGE), one of the Canadian cannabis stocks, announced recently the launch of a pilot clinical study with its strategic R&D partner, SciCann Therapeutics. The study is intended to test the safety and efficacy of SciCann’s proprietary “Steady Stomach” cannabidiol (CBD) combination product for the treatment of irritable bowel syndrome (IBS) patients. This study follows the previously-reported efficacy results from a preclinical study in rodent models, which demonstrated a three-fold increased efficacy in lowering abdominal inflammation levels with the advanced combination product as compared to CBD alone.
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Under the terms of FSD’s strategic agreement with SciCann, the Company holds exclusive manufacturing and distribution rights for the “Steady Stomach” product in Canada. The double-blind, randomized, placebo-controlled study will enroll 20 patients in a cross-over design to comply with the highest standards of rigorous scientific validity and certification demands of international medical regulatory authorities.
The study’s principal investigator is Dr. Bryan Doner of Compassionate Care Certifications Centers in Pittsburgh, Pennsylvania and the CRO is Affinity Bio Partners, led by CEO Dr. Christina DiArcangelo Puller.
Dr. Raza Bokhari, CEO of FSD Pharma, said, “This innovative clinical study aims to demonstrate the safety and efficacy of this easy-to-administer, side-effect-free therapy for a very common disease. Although rarely spoken about, IBS causes suffering to many patients around the world by dramatically reducing quality of life. The launch of this study marks another important milestone for FSD on its way to becoming a leading supplier of superior and differentiated medical, cannabis-based therapies for patients. Together with our partner SciCann, FSD is working tirelessly towards the development of novel and disruptive cannabinoid-based therapies for the world’s most under-treated diseases and irritable bowel syndrome is high on our list of target indications.”
Shares of FSD Pharma surged 17% following the announcement on October 31, 2018. Then, on November 6, 2018, FSD Pharma said its strategic R&D partner, SciCann Therapeutics Inc., received a positive International Search Authority report from the Patent Cooperation Treaty for its SCN-001 cannabidiol (CBD) combination therapy.
FSD Pharma stock trades at a market capitalization of C$658.3 with a price-to-book multiple of 12.3x.
Disclosure: Neither the author nor his family own shares in the company mentioned above.
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