What is going on with MEDIF?
MediPharm Labs Corporation (MEDIF) stock fell today after the cannabinoid research company announced it had entered into a research partnership Master Agreement with McMaster University to develop drugs containing cannabis. Shares of MEDIF declined 0.23% to $0.385 as of Monday at 11:55am.
What does this mean for MediPharm Labs?
Medipharm's agreement is key step for the company that will allow them to utilize McMaster University’s large and diversified roster of clinicians leading the way in cannabis research and drug development. Under the terms of the agreement, MediPharm Labs will enter into a separate Statement of Work with each clinician group. The company will use its Cannabis Drug License to provide the respective teams access to clinical trial material, as well as provide regulatory approval support.
“As a pharmaceutical company specialized in cannabis, MediPharm Labs is excited to participate in the development of drugs containing cannabis. This will further our initiative to fulfill the global need for pharmaceutically approved drugs containing cannabis. We are honoured to partner with McMaster University, a global leader in medical cannabis research.” said Keith Strachan, President and Interim CEO, MediPharm Labs.
MediPharm Labs and McMaster University researchers have proposed three distinct clinical trials, each led by separate clinician groups. The teams will focus on therapies to treat pain, insomnia associated with major depression, and uremic pruritus.
MEDIF has a Short-Term Technical Rank of 3. Find out what this means to you and get the rest of the rankings on MEDIF!
MediPharm Labs Corp, along with its subsidiaries, produces purified, pharmaceutical-like cannabis extracts and related derivative products. The company generates revenue from Private label, White label, the Tolling process, and others. Some of its vape brands are Northern Lights, Blue Dream, 2:1 CBD:THC, Pink Kush and GG4. Its geographical segments are Canada and Australia.
