A marijuana multi-state operator (MSO) that was part of the largest public launch on an emerging Canadian exchange has announced a study to determine the potential of medical cannabis in treating patients with inflammatory arthritis.
On Tuesday (May 21), Columbia Care (NEO:CCHW) confirmed a collaborative medical study with Westmed Medical Group to inspect the effectiveness of treatment using its ClaraCeed cannabidiol (CBD) tablets for pain management.
Nearly 100 patients will be examined for six months using these tablets alongside any current non-opioid-based treatments the patients may already use.
Rosemary Mazanet, chief scientific officer and chair of the scientific advisory board at Columbia Care, said the company sees this study as the first to look at a treatment option for rheumatologic patients.
She added that the company has seen anecdotal findings from patients with cannabis-based medicines, but hopes the new study will help confirm the validity of these claims with the ClaraCeed tablets.
As part of the study, enrolled patients will be monitored with a monthly check in from the researchers, including the collection of a patient global assessment, a patient reported outcomes estimate and a pain score based on the results from the medicine combination.
“We are also collecting safety information regarding the use of medical cannabis in the rheumatologic population, many of whom are taking numerous other medications,” Dr. Jill Landis, board certified rheumatologist at Westmed and lead on the study, said in a press release.
Shares of Columbia Care were down in Wednesday’s (May 22) trading session by 2.67 percent as of 3:19 p.m. EDT, indicating a price point of C$8.75.
As part of its first quarterly update since going public, the firm reported revenue of US$12.9 million.
“Access to the public capital markets will allow us to accelerate growth as we expand operations in 12 of our 14 existing jurisdictions and enable us to expedite the commercialization of our hemp-based CBD brands into traditional consumer retail channels,” said Nicholas Vita, CEO of the company.
The inclusion of Columbia Care into the Horizons US Marijuana Index ETF (NEO:HMUS) was done by way of a special “fast entry” rule from the fund operators, as the norm for new stocks is to be added during a quarterly rebalancing of the fund.
Horizons ETFs describes the rule as an option “to add new stocks into the portfolio shortly after they become publicly available, assuming they qualify for index inclusion.”
Columbia Care’s valuation granted it a maximum weighting of 10 percent among the fund’s total holdings. As of Tuesday, Columbia Care was the third stock by weight in the fund at 10.22 percent.
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).