Shares of a Canadian small market cap medical cannabis research firm jumped after it obtained a critical notice from the US Food and Drug Administration (FDA).

Tetra Bio-Pharma (TSXV:TBP,OTCQB:TBPMF) confirmed on Wednesday (December 4) that its delta-9-tetrahydrocannabinol (THC) treatment of hepatocellular carcinoma received orphan drug designation from the federal regulator.

The FDA offers this denomination for drugs designed to treat rare diseases; it serves as an incentive for companies in the pharmaceutical development cycle.

The company opened Wednesday’s trading session at a price of C$0.52 per share, representing a nearly 10 percent jump from its previous closing price. As of 12:10 p.m. EST, Tetra Bio-Pharma traded up 13.68 percent to a price of C$0.54.

Guy Chamberland, CEO and chief regulatory officer of the company, said the approval will cause the company to now prepare a modified formulation of its drug for hepatocellular carcinoma as part of a clinical trial in Q1 2020.

Hepatocellular carcinoma is a common type of liver cancer; according to the Mayo Clinic, it most commonly affects patients with chronic liver diseases.

“This second (orphan drug designation) for cannabinoids demonstrates our innovation and successful drug development program that will soon include hepatocellular carcinoma,” Chamberland said.

The executive added that the company will be able to incorporate the drug as a cancer therapy with supposedly no extra cost to its investors.

“The Caumz-kit technology already exists, so we will maximize our investment in the development of inhaled cannabinoid drugs to bring another drug to the market,” Chamberland said.

Investors of Tetra Bio-Pharma have seen an upswing in the company thanks to recent critical developments to its medical cannabis drug pipeline.

In November, the company restarted its trial for PPP001 after obtaining approval from the FDA. This drug is being investigated for patients facing pain management issues related to cancer.

Chamberland told INN the company was surprised to find out about the ruling from the health agency in the US.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Fundraising, Subscription by Directors and Love Hemp Q1 Trading Update

World High Life Plc (“World High Life” or the “Company”) (AQSE:LIFE) (OTCQB:WRHLF) announces that it has raised £566,206 via the issue of 56,620,600 ordinary shares of 1 pence each in the Company (“Ordinary Shares”; the “Subscription Shares”) at a subscription price of 1.0p per share. The proceeds of the Subscription Shares will be used by the Company for general working capital purposes

Keep reading... Show less

Global Wellness Strategies Inc. (formerly Redfund Capital Corp.) (CSE: LOAN) (FSE: O3X4) (OTCQB: PNNRD) (“Global” or the “Company”) announces it has signed a binding letter of intent (“BLOI”) on January 22, 2021 with EntheoTech Bioscience Inc. (“ET”) a wellness psilocybin leader based in Kelowna, British Columbia and will have the option to earn up to a 19.9% interest in ET.

EntheoTech is a Canadian bioscience company focused on the research and development of products, and protocols to promote brain health, performance optimization, and global wellness, using psychoactive substances such as psilocybin, medicinal mushrooms, and other natural products.

Keep reading... Show less

The new dispensary brings expanded access for patients along Florida’s Atlantic Coast

Trulieve Cannabis Corp. (CSE: TRUL)  (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a brand-new Florida dispensary, the Company’s 78th nationwide. The new 4,600 sq. ft. location marks the Company’s first in the city of Sebastian and second in Indian River county expanding patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.

Keep reading... Show less

Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) will release its financial results for the third quarter fiscal 2021 ended December 31, 2020 before financial markets open on February 9, 2021.

Keep reading... Show less


Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, announced today the closing of its previously announced bought deal public offering (the “Offering”) of units of the Company (the “Units”) for total gross proceeds of US$137,940,000 . The Company sold 13,200,000 Units at a price of US$10.45 per Unit, including 1,200,000 Units sold pursuant to the exercise in full of the underwriters’ over-allotment option.

Keep reading... Show less