Living Cell Technologies (ASX: LCT) has taken a significant step in the field of cannabis-based medicine by filing a provisional patent application for a CBD-based combination drug called AI-116, designed to treat dementia. This move establishes the priority date of the invention and positions the company ahead of potential competitors in the rapidly growing dementia drugs market, which was valued at over US$8.7 billion in 2021 and is projected to reach US$19.7 billion by the end of this year.
Antisense Therapeutics (ASX: ANP) experienced a 5% surge in its stock value following a successful study demonstrating the efficacy of its drug, ATL1102, in combination with dystrophin restoration drugs for Duchenne muscular dystrophy (DMD). The results showed improved muscle strength and indicated ATL1102's potential to enhance therapeutic outcomes in DMD patients.
Radiopharmaceutical company Clarity Pharmaceuticals (ASX: CU6) achieved a significant milestone by completing cohort 3 in the theranostic 64Cu/67Cu SARTATE neuroblastoma trial. This progress has allowed the company to move forward to the final cohort, where the highest dose in the dose escalation phase will be administered to further advance the trial.
Incannex Healthcare (ASX: IHL) made progress in its rheumatoid arthritis drug development by successfully completing a constructive pre-Investigational New Drug Application (pre-IND) meeting with the US FDA. The meeting focused on the formulation of IHL-675A and provided an overview of the proposed clinical development plan. This meeting is a crucial step towards opening an IND for conducting trials in the US and obtaining FDA marketing approval.
These developments showcase the growing interest and potential of ASX cannabis stocks in the field of medical research and treatment. As more companies explore the therapeutic benefits of cannabis-based drugs, investors and researchers alike are closely monitoring the advancements and impact of these innovations in the pharmaceutical industry.