Vitality Biopharma Inc (OTCMKTS:VBIO) reported that for each of the pharmaceutical offerings in their pipeline, the active CBD pharmaceutical agents are either now in late-stage clinical studies or have been independently permitted by regulatory bodies. There is extensive clinical report already available pertaining to drug effectiveness and safety.
Because of this, the company will in general benefit from the better familiarity of clinical regulators and investigators with these compounds, which may allow reduced paths towards clinical testing and subsequent approval of company’s pharmaceutical offerings.
Cannabinoids are termed as effective neuroprotective and anti-inflammatory agents, and as of 2016, states in the United States comprising 87% of the U.S. population have legislated medical marijuana laws to allow access to medical cannabis for cure of different problems, including at least application of CBD, which is not harmful.
The approved disease indications comprise ones directly linked to the drug indications Vitality is targeting and many others. The list comprises inflammatory bowel disease, chronic pain, wasting disorders, epilepsy, muscle spasticity disorders, glaucoma, multiple sclerosis and nausea, traumatic brain injury, Parkinson’s disease, cirrhosis, Alzheimer’s disease, Huntington’s disease, HIV/AIDS and more.
CBD pharmaceuticals are progressively being approved as well, counting primarily botanical and synthetic extracts of the two key constituents of Cannabis sativa – THC and CBD. Dronabinol marks as a synthetic THC medication that has been permitted for stimulating appetite and treating nausea. Nabiximols is a combination of two cannabinoids, CBD and THC, which has been approved in over 20 nations targeting muscle spasticity in multiple sclerosis, as well as for treatment of cancer pain in some nations.
In the last trading session, the stock price of Vitality gained more than 1% to close the week at $1.90. The gains came at a share volume of 30,139 compared to average share volume of 101,696. VBIO market cap stands around $40 million.
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