Vitality Biopharma Inc (OTCMKTS:VBIO) showing jumped of 2.77% and closed at $2.00, after gaining total volume of 121,450.00 shares. Its earnings per share (EPS) is -$0.39 and its beta value stands at 2.28 points and has total market capitalization of $39.51 million and a total of 19.29 million outstanding shares.
Vitality Biopharma Inc (VBIO) on March 7, 2017 announced the publication of an article discussing Vitality Biopharma’s (VBIO) recent announcement of the development of a tetrahydrocannabinol (THC) molecule that exhibits far less psychoactive effect than the molecules found in the cannabis plant.
The THC molecule has shown tremendous promise in recent clinical studies. For instance, GW Pharmaceuticals’ Sativex (nabiximols) is a formulated extract of the cannabis plant that contains both THC and CBD to treat pain and muscle spasticity. The problem with THC-based therapeutics is that they are psychoactive in nature, since the molecule binds with cannabinoid receptors, changing levels of dopamine and norepinephrine neurotransmitters. This creates a “high”, and puts an upper limit on the dose of THC that can be administered for therapeutic uses.
Vitality Biopharma recently announced that it has created a library of proprietary glycosides of THC that enable targeted delivery that reduces or eliminates psychoactivity when used in oral drug formulations. The compounds are being developed as pharmaceuticals that enable site-specific targeting of THC in various tissues of the body where it can exert therapeutic effects for the treatment of pain and inflammation.
The removal of psychoactivity from the THC molecule could prove to be a breakthrough in cannabinoid science. After all, psychoactivity remains the primary side effect that is of concern to patients, physicians, as well as regulatory bodies like the DEA and FDA. The mitigation of the intoxicating effects could open the door to far more widespread medical use of THC — particularly in children and other sensitive groups where psychoactivity is of paramount concern.
Marijuana Company Of America Inc (OTCMKTS:MCOA) decreased -2.42% closed at $0.0484 and traded with total volume of 5.21M shares, while the average trading remained 6.40M shares. During last trade its minimum price was $0.05 and it gained the highest price of $0.05. Its market capitalization was $75.98 million.
Marijuana Company Of America Inc (MCOA) on March 22, 2017 announced that it has entered into a non-binding Letter of Intent (“LOI”) while performing due diligence to finalize a joint venture agreement with Bougainville Ventures, Inc. (“BV”) for the purpose of housing tenant growers engaging in the cultivation, processing and commercial availability of legal marijuana in the State of Washington.
Subject to the execution of a final definitive agreement, the terms of the LOI are that MCOA will invest up to $1 million in cash in a newly formed entity and receive 50% equity ownership and 50% share in net profits produced by the joint venture. Bougainville Ventures, Inc. will contribute its expertise in establishing facilities related to the production, processing and management for tenant growers utilizing an I-502 Tier 3 license, with leased property, established partnerships, licensing agreements and marketing relationships.
Donald Steinberg, MCOA President and CEO said, “We are looking forward to getting seed in the ground and ramping up this partnership with Andy Jagpal and Bougainville Ventures. This partnership further strengthens our supply chain and enables MCOA to produce the highest quality products at the lowest possible prices.”
“We couldn’t be happier than to have aligned ourselves with the outstanding team at MCOA,” said Jagpal, President of Bougainville Ventures, Inc. “With the management expertise that the highly skilled professionals at MCOA bring, we have insured the certainty of expanding our Washington State Greenhouse Campuses while achieving our revenue and profitability goals.”
This joint venture project is solely for the purpose of cultivation, processing and commercial availability of legal marijuana within the State of Washington only and not beyond its borders.
Earth Science Tech Inc (OTCMKTS:ETST) reported the plunge of -9.72% and closed at $1.30, with the total traded volume of 78,554.00 shares. During last trade its minimum price was $1.12 and it gained its highest price of $1.41 and has a total of 40.91 million outstanding shares.
On February 28, 2017 Earth Science Tech, Inc. (ETST), an innovative biotech company focused on cannabis (industrial hemp) and cannabinoid research and development, nutraceuticals, pharmaceuticals, and medical devices, and its subsidiary Cannabis Therapeutics Inc. are proud to announce that Dr. Moutih Rafei, PhD, has joined the company’s Advisory Board and that three out of the five distinguished scientists and doctors who were recently nominated to the companies’ Advisory Board will meet on Tuesday, February 28th at Le Centre Québecois d’Innovation en Biotechnologie (CQIB) in Laval, Québec, (http://www.cqib.org).
There will be a press availability and photo op.
Dr. Chandra Panchal, Dr. Domenico Fuoco, and Dr. Moutih Rafei will meet at the biotech business incubator to review and discuss ETST’s ongoing R&D projects and chart the direction of the company’s research and development initiative for near future. Missing from the gathering will be Dr. Laurent Azoulay and Dr. Calvin Higgins, M.D. who cannot leave their current work at this time. Also in attendance will be Dr. Michel Aubé, PhD, CEO and Chief Scientific Officer of ETST and Cannabis Therapeutics, Inc.
At this meeting, the company will also formally launch its R&D partnership with Smart Medicine, Inc. who will provide laboratory and technical services to ETST in their facility at CQIB.