[ad_1]
Uriel Sinai | Getty Images
A worker cuts cannabis at the Tikun Olam Crop Plant on March 7, 2011, near the northern city of Safed in Israel.
Shares of Canadian cannabis grower Tilray exploded after announcing that the Drug Enforcement Administration had authorized the import of marijuana into the United States for medical research.
"Tilray is proud to support this critical research," says Dr. Catherine Jacobson, Director of Clinical Research at Tilray.
"If this study can identify cannabinoids as a potential treatment for patients with essential tremor, we can conduct additional research and potentially provide effective alternative methods of relief for the large number of patients with essential tremor," he added. .
Essential tremor is a disorder of neurological movement characterized by involuntary and rhythmic tremors, according to the company's website. Tilray added that ET affects 0.4% of the general population, with 4.6% to 6.3% of people aged 65 and over suffering from this condition.
Wall Street, meanwhile, has announced the launch as a sign that the DEA stands by its goal of improving resources and research on cannabis. The market capitalization of Tilray, despite a $ 9.7 million turnover in the last quarter, is over one-fifth of the S & P 500.
"Today's news is positive for both Tilray and the entire cannabis world, as additional medical applications and improved government support add another domino to future legalization in the US," writes Vivien Azer, analyst at Cowen.
"In addition, the new clinical trial supports Tilray's medical cannabis prospects (both in the US and globally) as it competes with Canopy Growth (39 US patents and 15 clinical trials) in one race. armaments, "added the analyst.
Programming Note: Brendan Kennedy, CEO of Tilray, will appear on Mad Money tonight at 6 pm ET.
– CNBC & # 39; s
J.R. Reed
reported contribution.
Source link
