Zelda Therapeutics Ltd’s [ASX:ZLD] share price is yet to move despite announcing its new autism observation trial.
The Australian-based bio-pharmaceutical company is focused on developing cannabis-based treatments for a variety of medical conditions, including insomnia, autism, breast, brain and pancreatic cancer.
Details of the new trial
The autism observation trial will be conducted at the Children’s Hospital of Philadelphia (CHOP).
The aim of the trial is to ‘better understand the efficacy of medicinal cannabis treatment and will work closely with patient advocacy groups’. With the ultimate goal to uncover cannabinoid-based compounds that may demonstrate efficacy in the treatment of paediatric autism.
This observation study will lay the groundwork for a potential follow up clinical trial to generate higher quality data to validate the anecdotal data amongst patients.
Dr Richard Hopkins, Managing Director of Zelda, said:
‘We are very excited to have this study underway and to be working alongside CHOP to conduct one of the first formal, robust studies of its type in the world. With studies showing that around 1 in 100 people have autism and with diagnosis rates on the rise, we’re focussed on addressing a major unmet need for potential new therapies to help treat this condition.’
Is Zelda worth investing in?
Shares of Zelda have been experiencing a downwards trend in the past six months — falling more than 45% since April. They are among the many competitors also formulating medicinal cannabis-based treatments.
You could say it doesn’t look good for them.
Although, while they haven’t found any groundbreaking discoveries as of yet, that’s not to say they won’t. Zelda’s share price is cheap, so you could consider it a bargain not to miss.
I’d suggest keeping an eye on this stock for upcoming progress on both their human clinical trials and pre-clinical research programmes, as Mr Hopkins said there is huge potential for a current unmet need.
For Money Morning
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