This is what I love about this company. They have the recreational market coming soon and longer term they have a chance to hit it big, very big on the pharma side. Bruce knew these guys were the ones before the headlines came out about Zelda and their formulation for shrinking tumors. He is miles ahead of this board I'd say at best we're 6 months behind what's going on at Canopy. This is significant and excites me more than the recreational market. If they developed and prove this to work in clinical trials. Canopy seems to have at least a relationship with Zelda by supplying them with cannabis. We may own a piece as well through AusCann. That would be some good DD, to find they connection between the three companies. This could make the recreational market look like a grain of salt in Canopy’s revenue one day. Not to mention owning a company that brings relief to Cancer patients and could possibly cure their tumors.
After a reasonably subdued start to life as a listed company Zelda Therapeutics Ltd (ASX: ZLD) certainly grabbed the attention of the market this morning.
The medicinal cannabis company’s shares are on fire today and are higher by a whopping 48% to 3.4 cents.
Today’s gain comes following the announcement of positive results from its proof of concept study into the anti-cancer effects of its tetrahydrocannabinol-rich medical cannabis formulation.
According to the release the research by world leading cannabis cancer researchers at Madrid’s Complutense University shows that the formulation is significantly more potent at reducing tumour growth than pure tetrahydrocannabinol.
Furthermore, the formulation is equally as potent as Lapatanib in reducing tumour growth. Chemotherapy drug Lapatanib is a tyrosine-kinase inhibitor of HER2 and EGFR. Both of these receptors are known to play an important role in breast cancer.
The research study was carried out in immune-deficient mice hosting tissue grafts of human breast cancer, HER2+ adenocarcinoma. The treatment was delivered orally to the mice and tumour volume was measured daily.
Whilst this is an exciting breakthrough, it is worth remembering that it will be some time before human trials commence. So it might be a little early to get over excited.
But overall I think medicinal cannabis has enormous potential and the high quality companies with strong management teams have a great chance of success. Whilst my preference is for the soon-to-be listed AusCann, there is room for both companies in this huge market in my opinion.
Not only do both AusCann and Zelda have close ties and shared expertise, but they are targeting different areas of the market as I explained recently.
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