Shares of Greater Cannabis Company (OTCMKTS:GCAN) saw a bit of buying at lower after the recent fall.
Market Reaction
On Friday, GCAN stock moved up 6% to $0.0053 with more than 12.05 million shares, compared to its average volume of 2.53 million shares. The stock has moved within a range of $0.0044 – 0.0055 after opening trade at $0.0049.
GCANRx Announces Initiation of Preclinical Study for Neuropsychiatric Cannabinoid Therapy
Biopharmaceutical company pioneering development of next generation cannabinoid therapeutics, Greater Cannabis Company (OTCMKTS: GCAN), on November 8, 2021 announced it has commenced preclinical phase of evaluating novel neuropsychiatric cannabinoid therapy.
Greater Cannabis company announced preclinical study following signing of license as well as research agreement with ShaareZedek Scientific pertaining to the invention done by Dr.Adi Aran, renowned cannabinoid researcher.
While Aran would be leading clinical study, Professor Tal Burstyn-Cohen, Ph.D. of the Hebrew University, would be leading preclinical study.
The study is aiming to assess synergistic impact of several combinations of neuroprotective therapeutic.
Key Quote
AitanZacharin, GCANRx CEO said that the firm is keen on embarking on the study to validate therapeutic and potential to be an important part of neuroprotective therapies. Zacharin added that there is unmet need in significant population of patients having side effects accompanying current care standards. The CEO further opined that cannabinoids have shown to be safe and effective and depending on clinical data, the company’s product would be providing effectiveness as a neuroprotective therapeutic.
The Company firm will be studying generation in vitro data demonstrating significant neuroprotective attributes of therapeutic. The study will conclude by quarter three of 2022 and the research team would be producing interim evaluations starting in quarter one.
Traders Review
GCAN stock is trading below the 20-Day and 50-Day Moving averages of $0.0054 and $0.0054 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0081. The stock is down 32% over the past 6-month.
