IntelliPharmaCeutics International Inc. (NASDAQ: IPCI) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced that it has commenced a new research and development program specifically surrounding cannabis related products. Of course, the news excited investors, sending the stock screaming for the top. Today, we’ll talk about:
- The R&D announcement;
- what we’re seeing from IPCI stock as a result; and
- what we’ll be watching for ahead.
IPCI Announces New R&D Program
As mentioned above, IntelliPharmaCeutics is having an incredibly strong start to the trading session this morning after the company announced a new R&D program. In a press release issued early this morning, the company said that it has commenced a research and development program surrounding pharmaceutical cannabidiol, also known as CBD, based products.
In the release, IPCI said that it believes that its current technology platforms could find use in cannabidiol therapeutics. As a result, it has filed provisional patent applications with the USPTO pertaining to the delivery and application of cannabinoid-based therapeutics. The company said that these patent filings, as well as its already issued drug delivery patents, are intended to form the basis of the developmnet of a pipline of novel controlled=release product candidates that will include CBD as the primary active ingredient.
In a statement, Dr. Isa Odidi, CEO at IPCI, had the following to offer:
We believe that our experience with the research, development, manufacture, quality control and regulatory filing of controlled-release novel dosage forms incorporating controlled substances, such as opioids, together with our existing suite of drug delivery technologies should provide us with a significant competitive advantage in the pharmaceutical cannabidiol market. We look forward to working with new partners in this space to commercialize our new innovations.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of IntelliPharmaCeutics, the news proved to be overwhelmingly positive. After all, a new R&D program may open the door to new revenue down the road. So, it’s not surprising to see that excited investors are pushing the stock on a run for the top in the market this morning. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:38), IPCI is trading at $0.30 per share after a gain of $0.029 per share or 10.87% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on IPCI. In particular, we’re interested in following the company’s new research and development program. After all, with the passing of the Farm Bill and legalization of the production and sale of CBD in the United States, there’s quite a bit of interest in anything CBD related. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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