This Pharma Co. Kicks Off FDA Approval Process For CBD-Based Treatment Of Chronic Pain
Portfolio Pulse from Jelena Martinovic
Innocan Pharma Corporation has initiated the FDA approval process for its Liposome-Cannabidiol (LPT-CBD) injectable treatment for chronic pain by submitting a Pre-IND meeting letter. The company's LPT-CBD technology, which has shown efficacy in pre-clinical trials, represents a significant step towards offering a non-opioid alternative for pain management. With the opioid crisis escalating, Innocan's therapy could provide a safer option for patients, tapping into a market expected to exceed $100 billion by 2032.
April 23, 2024 | 2:24 pm
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Innocan Pharma's initiation of the FDA approval process for its LPT-CBD injectable treatment could significantly impact its stock. The move highlights the company's progress in developing a non-opioid alternative for chronic pain management, addressing a substantial market need amidst the opioid crisis.
The submission of a Pre-IND meeting letter to the FDA by Innocan Pharma for its LPT-CBD treatment is a critical regulatory step, indicating progress towards market entry. Given the current opioid crisis and the demand for non-opioid pain management solutions, this development could positively influence investor sentiment and the company's stock price in the short term. The potential market size and the innovative nature of the treatment further underscore its significance.
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