Zelda Therapeutics Share Price Rises 55% on Outstanding Result

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The Zelda Therapeutics Ltd [ASX:ZLD] share price has skyrocketed 55.36% higher today following an announcement.

The company reported positive results from their ongoing medical marijuana trials today. They’ve been testing the use of the drug to fight breast cancer. The tests were performed in vitro or on a cellular level, and had a ‘statistically significant anti-cancer effect across a range of different breast cancer cell lines.’

The trial used THC-rich and CBD-rich oils — the two most common properties found within the cannabis plant material. It was conducted by leading cannabis cancer researchers from the Complutense University of Madrid.

News of the results saw the share price rocket higher.

What next for Zelda Therapeutics?

The overwhelming success in these early trials will no doubt see further research continue, with follow-on studies already in progress. The company is particularly interested in exploring whether THC and CBD extracts can provide synergistic effects when combined.

The result is great news for cancer research and investors alike. As well as being a big win for the ongoing success of medical marijuana in Australia and around the globe.

Zelda Therapeutics is hoping they will be able to license their intellectual property to a group with access to more resources in the future. Which would hopefully result in clinical trials on human patients.

Regards,

Ryan Clarkson-Ledward

Junior Analyst, Money Morning

PS: If you want to get it on gains similar to Zelda Therapeutics, you need to look at our ‘Top Three Aussie Small-cap Stocks’ report.

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Tags: ASX:ZLD

Ryan Clarkson-Ledward

Ryan Clarkson-Ledward is an Editor at Money Morning.

Ryan holds degrees in both communication and international business. He helps bring Money Morning readers the latest market updates, both locally and abroad. Ryan tackles all the issues investors need to know about that the mainstream media neglects.

Ryan is also the Editor of Australian Small-Cap Investigator, a stock tipping newsletter that hunts down promising small-cap stocks by dissecting the latest events affecting the world.

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