MedReleaf sponsors cancer trial: Last month, MedReleaf Corp. released its earnings report. Things, at the time, were looking good for the Ontario-based company. In Q4, revenue increased, as did total sales. The question then was, how will the company do moving forward?
Today, it appears we have our answer. On Thursday, MedReleaf announced that it, alongside an oncology group in Ontario, will sponsor a cancer trial.
Considering the trial will use MedReleaf products, good things are likely on the horizon—if the trial is successful, that is.
MedReleaf Sponsors Cancer Trial: Details
MedReleaf revealed quite a bit about the trial on Thursday. First, the cancer trial will be held in Hamilton, Ontario, specifically at the HHS Juravinski Cancer Centre.
As for timing, the Canadian cannabis company revealed the cancer trial will be conducted over a 1-2 year timeframe.
Though the Ontario Clinical Oncology Group (OCOG) will coordinate the cancer trial, MedReleaf has, perhaps, the more vital role: supplying the cannabis medication.
The objective of the MedReleaf cancer trial is to see if its cannabis oil capsules have the ability to improve pain management in cancer patients. Both parties will also look to see which is the best dosing regimen.
MedReleaf's Cannabis Oil Capsules: Will They Help?
It's certainly possible. According to Dr. Slaven, cancer patients have been telling the OCOG that "cannabis products help their pain." The Ontario-based group is not the only institution to have heard this either.
In the trial, patients with cancer pain will be given an oil that combines both CBD and THC.
MedReleaf Comments on the News
So, it's quite the headline, isn't it? MedReleaf sponsoring a cancer trial?
But it's a good headline. Developing medical cannabis products is an important job, and the fact that MedReleaf's capsules have reached a point where they can be used in a clinical trial means the company is doing something right.
The company seems to think so, too. CEO Neil Closner said the company is "thrilled to have the opportunity to be involved in this important cancer trial."
The MedReleaf Stock (TSX:LEAF)
Investors appear to have the same mentality as Closner. What gives that impression? Look at the MedReleaf stock!
According to Google Finance, at 2:18 p.m., MedReleaf was trading at $30.68. This means the stock was up $0.41, or 1.36% at the time.
The Takeaway
What do you think of the news of MedReleaf sponsoring a cancer trial? Do you have faith in MedReleaf's cannabis oil capsules?
Featured Image: BioSpectrum
