Cardiol Therapeutics Inc. (TSX:CRDL) (OTC:CRTPF) has released a video regarding the progress it has made in development of its pharmaceutical-grade CBD compound. According to President and CEO David Elsley, there are a number of reasons to be excited about the future of Cardiol and the emerging CBD market. “Cannabidiol is in high demand and short supply in many regions of the world. We have a state-of-the-art formulation and a state-of-the-art supply chain capable of meeting that demand with the purest most advanced form of that cannabidiol. We see a significant revenue opportunity because our supply chain is positioned to manufacture one million grams of pure pharmaceutical cannabidiol at the highest level of purity in the industry today.”
Elsley sees the cannabidiol market as a $100 million opportunity based on current CBD price structures. “The average retail price for cannabidiol in a less-pure form than what we’re offering is $100 or more per gram, so it’s a $100 million opportunity and we can supply that opportunity this year,” said Elsley during the video. The company is currently researching the anti-inflammatory effects of cannabidiol on heart patients when the compound is directly delivered to the site of a specific injury.
Watch the full video here.