The MGC Pharmaceuticals Ltd (ASX: MXC) share cost has pushed larger in morning trade following the release of a good announcement.
At the time of writing the cannabis company’s shares are up two.five% to four cents.
Why is the MGC Pharma share cost pushing larger?
This morning the firm revealed that it has received Human Study Ethics Committee (HREC) approval to conduct a head-to-head clinical study on extreme intractable epilepsy in collaboration with Cannabis Access Clinics and Epilepsy Action Australia.
According to the release, this is a single of the very first research in the planet to conduct a direct comparison assessing the efficacy of low-THC to 100% CBD items when treating extreme intractable epilepsy.
The study will comprise 100 epilepsy sufferers treated with either CannEpil or MXP100, with the distinction in efficacy analysed.
CannEpil is a higher cannabidiol (CBD), low Tetrahydrocannabinol (THC) formula created for the therapy of drug resistant epilepsy and is MGC Pharma’s proprietary pharmaceutical grade phytocannabinoid derived medicine. It has been authorised for prescription as an Investigational Medicinal Item in each Australia and the United Kingdom, with regulatory approval underway in a quantity of other nations.
MGC Pharma’s co-founder and managing director, Roby Zomer, was delighted with the improvement.
He mentioned: “This direct comparative head-to-head study on the use of phytocannabinoid derived items on the therapy of extreme epilepsy is hoped to start to demonstrate the improved efficacy of CannEpil, and is an instance of MGC Pharma’s commitment to getting at the forefront of investigation and innovation in the sector, major to improved patient access. As such, we are delighted to have received approval from the HREC which enables us to quickly begin the study connecting sufferers in need to have with MGC Pharma’s items and offering important facts and information on the effectiveness of phytocannabinoid primarily based treatment options and epilepsy.”
When participant recruitment has commenced the study will proceed with information collection, information evaluation, and information reporting. Just after which, the firm expects the final report to be offered inside 24 months of commencement.
Elsewhere in the sector nowadays, the Cann Worldwide Ltd (ASX: CGB) share cost has continued its rise and is up 14%. Its shares have been on a tear because announcing a deal with Costco Australia final week. And Althea Group Holdings Ltd (ASX: AGH) shares are down 1% on no news.
A single ASX Stock For An Estimated $US22 Billion Marijuana Industry
A small-identified ASX firm just unlocked what some specialists consider could be the important to profiting off the coming marijuana boom.
And make no error – it is coming. To the tune of an estimated $US22 billion.
Cannabis legalisation is sweeping more than North America, and complete legalisation arrived in Canada in October 2018.
Here’s the finest portion: we consider there’s a single ASX stock that is uniquely positioned to profit immensely from this explosive new industry… taking savvy investors along for what could be a single heck of a ride.
AND, this is the very first time The Motley Fool Australia has EVER place a Purchase recommendation on a marijuana stock.
Just click beneath to find out a lot more on how you can profit from the coming cannabis boom.
Click right here to obtain out a lot more