Charlotte's Web And DeFloria Launch First Ever Hemp-Based Drug Into Human Trials
Portfolio Pulse from Patricio Liddle
Charlotte's Web Holdings Inc (CWBHF) and AJNA BioSciences PBC, through their collaboration DeFloria LLC, have initiated the Phase 1 clinical trial of AJA001, a full-spectrum hemp botanical drug. The trial, which began in September, is the first human testing of the substance and aims to evaluate its safety, tolerability, and pharmacokinetics with about 64 participants in Brisbane, Australia. The successful initiation of the trial is seen as a critical milestone, and DeFloria plans to submit an Investigational New Drug application to the FDA for Phase 2 trials. CWBHF's stock was trading 5.95% higher at $0.2225 per share at the time of the report.
December 13, 2023 | 4:23 pm
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POSITIVE IMPACT
Charlotte's Web Holdings Inc's stock rose 5.95% following the news of the Phase 1 clinical trial commencement for AJA001, a full-spectrum hemp botanical drug, which is a significant development for the company.
The initiation of the Phase 1 clinical trial for AJA001 is a significant milestone for Charlotte's Web and its collaboration with AJNA BioSciences. This positive development is likely to instill investor confidence and could lead to a short-term increase in stock price, as evidenced by the 5.95% rise in share value. The news directly impacts CWBHF as it is a major step in their product development pipeline and could lead to future revenue growth if the trials are successful.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100