A Canadian company named Tilray making some serious marks in the history of cannabis in the US. The firm has received approval from the authorities to import medical marijuana to the United States. The company announced the same on Tuesday, saying that the cannabis would be used for a study, to be conducted in the University of San Diego, for a clinical trial. Following the announcement, the shares of Tilray saw an increase of 11% in early trading. It will be the first company to do that, and the stock price of Tilray has become 682% when compared to the actual rates at the time of public offering.
“Tilray is providing a cannabinoid formulation for the trial in capsule form, which will allow researchers to test an investigational drug product containing two active ingredients extracted from the cannabis plant, cannabidiol (CBD) and tetrahydrocannabinol (THC). Dr. Fatta Nahab, a board-certified neurologist and director of the Functional Imaging of Neurodegenerative Disorders Lab at the UC San Diego Health’s Movement Disorder Center, will serve as the principal investigator for the study. It is expected to begin in early 2019 with financial support from Tilray and the International Essential Tremor Foundation,” said Tilray in a press release.
The drug will be used to treat Essential Tremor, which is a neurological disorder. As of now, this disorder is being treated with medicines that are supposed to cure issues like high blood pressure and seizures. On the other hand, the capsule-based drugs to be imported by Tilray are expected to be more efficient in treating the disorder. This is not the only trial the company is involved in. On the other hand, Tilray’s presence can be found in a few other clinical trials, one of them targeted at PTSD. Tilray adds that it would conduct further researches if the current one is effective.