Over the last week, Zelda’s share price has been travelling quite irregularly, but on Friday its shares spiked by 2.94%, only to loose ground today trading a little lower at $0.069.
Zelda Therapeutics Ltd [ASX:ZLD] is a company that uses medicinal cannabis for the treatment of various medical conditions.
Zelda’s research focus is based on pre-clinical trials in cancers such as breast, brain and pancreatic, with clinical trials in autism, eczema and insomnia.
What this trial means for Zelda’s share price
In its clinical insomnia trail, Zelda announced that its first patient has received medication. The trial is targeting patients with symptoms of chronic insomnia, such as continuing difficulty falling and staying asleep.
It seems Zelda’s share price has reacted positively to the trial announcement, which is being taken upon at the University of Western Australia (UWA) Centre for Sleep Science, and is being directed by professor Peter Eastwood, National Health and Medical research Council Senior research fellow.
He had this to say about the trial:
‘We are delighted with this milestone and look forward to the next phase of the study. Should the trial be successful we see strong potential to provide a safe and effective medicine to patients with insomnia but also patients for other sleep disorders.’
Currently the trial will treat 24 patients, using Zelda’s medicinal cannabis which has been manufactured to pharmaceutical grade GMP standards.
The research collected is set to determine the success of Zelda’s treatment, measuring the time it takes for patients to fall asleep, quality of sleep, so the time spent awake and sleep during the night.
Zelda’s Preliminary results set for 2019
The clinical results for Zelda’s insomnia treatment won’t happen overnight, but Managing director Dr Richard Hopkins commented on the trial:
‘This is a major milestone for Zelda’s as it represents the first of a number of clinical trials we’re planning to commence over the coming months. Positive data will enable Zelda to accelerate its commercialisation plans, which have been facilitated by our recent agreement with HAPA medical to manufacture and distribute Zelda products in Germany and Europe.’
The preliminary results from the insomnia trial are expected to be available by the first half of 2019. And if deemed successful, there’s plans to commercialise its cannabis formulation in permitting markets.
This, along with the Zelda’s other pre-clinical and clinical trials in other areas, could continue to affect its share price positively.
It’s also important to consider the rate at which medicinal cannabis, as well as recreational cannabis, is being legalised. With countries like Canada making the switch, it could be only a matter of time before Australia does the same. Meaning positive things could be install for the future of Zelda’s share value.
For Money Morning
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