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.
Junior Analyst, Money Morning
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