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Thursday, September 28, 2023

Medical Marijuana Inc (OTCMKTS:MJNA) Finds a Key New Catalyst

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Medical Marijuana Inc (OTCMKTS:MJNA) is a stock we covered recently, taking the strong position that it was a stock in need of a new major catalyst to find a new leg. Well, right on time, the company has announced that its subsidiary HempMeds Mexico held a press conference in Mexico City, Mexico, to reveal the positive results of a recent study conducted by Mexican physician Dr. Saul Garza Morales on the effects of the Company’s Real Scientific Hemp Oil-X (RSHO-X) product in treating children with severe epilepsy.

According to the release, the study, conducted by Mexican pediatric neurologist Dr. Garza, included 39 patients with Lennox-Gastaut syndrome, a severe form of pediatric epilepsy that typically develops before the age of four. Of those 39 patients, which took up to 5-7mg CBD/kg progressive doses of RSHO-X 5000MG, 84% experienced reduction in motor seizures; 53% reported better than a 75% reduction in seizures; and 7 reported a complete elimination of all seizures over a 4-month period, with zero reported side effects.

Medical Marijuana Inc (OTCMKTS:MJNA) bills itself as an investment holding company that operates in the medical marijuana and industrial hemp markets. Its products range from patented and proprietary based cannabinoid products to seed and stalk or isolated high-value extracts manufactured and formulated for the pharmaceutical, nutraceutical, and cosmeceutical industries.

The company licenses its proprietary testing, genetics, labeling and packaging, tracking, production, and standardization methods for the medicinal cannabinoid industry. It engages in the research and development of cannabinoid-based pharmaceuticals; and marketing and distribution of cannabidiol hemp oil-based products.

In addition, MJNA provides management support and services to cooperatives, collectives, health and wellness facilities, and medical clinics; and consulting and securities services to businesses and individuals in the legal cannabis industry. Further, it focuses on the treatment of pain and other medical disorders with the application of chewing gum-based cannabis/cannabinoid medical products.

Medical Marijuana Inc. is the first publicly held company vested in the medical marijuana and industrial hemp markets.

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The study clearly presents the market with a valuation challenge. The study was conducted outside of the typical channels for biotech rigor in the US. But the data is still compelling enough that it can’t be ignored.

“The results of this study are very exciting as they show the best results of any product/medication ever recorded regarding the reduction of seizures in Lennox-Gastaut Syndrome patients, with 17% of patients in the study experiencing 100 percent relief from their seizures,” said CEO of Medical Marijuana, Inc. Dr. Stuart Titus. “Studies that prove the therapeutic benefits of CBD are vital, as they will continue to help fuel less restrictive medical cannabis programs not only in Mexico, but across the globe. This is such encouraging news that children with such a severe form of epilepsy now have an option for relief as opposed to a prior bleak diagnosis that offered no signs of beneficial treatment, once the epilepsy moves to the refractory (drug resistant) phase.

“Dr Garza’s study is a huge victory for botanical CBD as opposed to the pharmaceutically developed alternative,” continued Dr. Titus. “We fully believe in the Entourage Effect of the natural botanical product – both in terms of safety as well as efficacy.”

The release continues to note possibly the most important overall point: the study showed twice the efficacy in seizure reduction as the competitive alternative in Epidiolex from GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH). And, as they note, that comes with apparently no adverse side effects. “In contrast, 79% of children in GW’s Epidiolex study reported suffering adverse effects and 30% suffered severe adverse events.”

Traders will note 33% tacked on to share pricing for the name in the past week for MJNA on this news. That puts the company at a market cap around $421.5M.

MJNA has a bankroll ($406K) of cash on the books, which must be weighed relative to about $3.9M in total current liabilities. One should also note that debt has been growing over recent quarters. So, the balance sheet is still a concern here.

That said, the revenue picture continues to present a strong case, with MJNA pulling in trailing 12-month sales of $7M, on major top line growth, with y/y quarterly revenues growing at 18.6%. As more color becomes clear on the name, we will review the situation and update our take. For continuing coverage on shares of $MJNA stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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