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Innocan Pharma (INNPF) Shares Decline Despite Promising CBD Study Results

Friday, June 11, 2021 11:41 AM | Slav Kandyba
Innocan Pharma (INNPF) Shares Decline Despite Promising CBD Study Results

What’s going on with Innocan Pharma?

Innocan Pharma Corp. (INNPF) stock was slightly lower after the Canadian company revealed that a recent study on mice found an extended presence of cannabidiol (CBD) in the bloodstream — for more than seven weeks after two injections. Shares of INNPF were trading 0.31% lower at $0.41 per share on Friday morning.

The company described the findings as "extremely encouraging" because CBD is typically present 24 hours in the bloodstream when introduced through other methods.

What does this mean for INNPF?

Innocan Pharma Ltd., a wholly owned subsidiary, has an exclusive research and license agreement with Yissum Research and Development Company, the commercial arm of The Hebrew University of Jerusalem, to design, prepare and evaluate hydrogels containing CBD (or other cannabinoids) loaded liposomes.

The study was led by Dr. Ahuva Cern, a senior researcher in the lab of Prof. Chezy Berenholz of The Hebrew University of Jerusalem. It  was based on Innocan's licensed CBD-loaded liposome platform technology (LPT) for injectable CBD solutions.

"This study marks another positive and exciting result in our ongoing injectable-CBD research," said Innocan CEO Iris Bincovich. "These results may open the door to a wide range of exciting therapeutic possibilities, especially in treatment of conditions related to the central nervous system."

Sentiment Score - ,neutral

Innocan Pharma Corp has a Neutral sentiment reading. Find out what this means for you and get the rest of the rankings on INNPF!

InnoCan Pharma Corp is a Canada based company engaged in the research, development, marketing, distribution and sales of InnoCan-branded OTC pharmaceutical products. Its brands include Shir and Relief & Go.

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