What’s going on with GBLX?
Gb Sciences, Inc. (GBLX) stock rose 21.74% after the Las Vegas-based company received positive proof-of-concept data from a human immune cell model, supporting its proprietary cannabinoid-containing complex mixtures made for suppression of COVID-related cytokine release syndromes and preserving key anti-viral immune responses.
Based on this new positive proof-of-concept data, Gb Sciences converted their provisional patent application to a nonprovisional patent application on August 18.
Shares of GBLX were trading at $0.04 per share on Tuesday afternoon.
What does this mean for Gb Sciences?
Gb Sciences’ cannabinoid-containing complex mixtures are designed to reduce the life-threatening levels of specific cytokines and pro-inflammatory processes inflicted by the coronavirus. At the same time, they preserve the immune functions and cytokines necessary for fighting the virus.
These proof-of-concept results supported the potential for some of these mixtures to accomplish this goal, but clinical trial results still have to be completed to prove them effective as therapy.
"By creating and funding an innovative cannabinoid-based research program, Gb Sciences has demonstrated that we can profoundly change the way that cannabinoids are used within optimized therapeutic mixtures designed for the management of inflammation, pain, and other unmet medical needs," said company president and chief science officer, Dr. Andrea Small-Howard. "Our plant-based drug discovery platform is advancing biopharmaceutical research at a time when thousands are dying from COVID-19. The next step is to further develop our plant-inspired drugs and eventually bring them to human trials so that the use of well-defined cannabinoid mixtures in clinical practice can become a reality."
GBLX has an Overall Score of 20. Find out what this means to you and get the rest of the rankings on GBLX!
GB Sciences Inc is active in the healthcare sector. The company is engaged in developing and utilizing technologies in plant biology, cultivation, and extraction techniques combined with biotechnology, and plans to produce medical-grade cannabis, cannabis concentrates, and cannabinoid therapies. It seeks to be a technology and solution company that converts the cannabis plant into medicines, therapies, and treatments for a range of ailments.
