Medical Marijuana Inc (OTCMKTS:MJNA) saw a 3% price kick Thursday on above average volume. MJNA announced that a recent clinical study conducted by renowned Mexico neurologist, Dr. Carlos G. Aguirre-Velazquez, successfully utilized its flagship THC-free product Real Scientific Hemp Oil-X.
“Each time new study results are published showing the positive effects of CBD on a new indication is a victory for showcasing the therapeutic benefits of CBD and people around the world suffering from a multitude of debilitating conditions,” said Dr. Stuart Titus, CEO of Medical Marijuana, Inc. “We congratulate Dr. Aguirre for his work in unveiling, like he did in this study, that not only is CBD effective in relieving seizures, but also exhibiting that CBD can be used over long periods of time without harm, compared to antiepileptic or broad-spectrum steroids that can have dangerous side effects if used for several years, including vision and damage to major organs.”
Medical Marijuana Inc (OTCMKTS:MJNA) casts 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.
MJNA’s subsidiary, Kannaway, LLC, is a network sales and marketing company specializing in the sales and marketing of hemp-based botanical products. Kannaway currently hosts weekly online sales meetings and conferences across the United States, offering unique insight and opportunity to sales professionals who are desirous of becoming successful leaders in the sale and marketing of hemp-based botanical products.
MJNA 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.sportswear and more.”
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The trial was comprised of patients with varying forms of epilepsy, with the majority having TSC, a genetic disorder characterized by the growth of noncancerous (benign tumors) in many parts of the body, including the brain, which can lead to convulsive crises. TSC affects 1 million people worldwide, 50,000 in the U.S. and 20,000 in Mexico.
Results from the trial showed that 60% of participants who used CBD products saw a clinically significant (80-100%) reduction in the frequency of their seizures. Additionally, quality of life metrics such as mood, appetite and cognition saw substantial increases among the patients using CBD. Finally, no serious side effects were reported, only mild ones such as drowsiness and increase in appetite, which eventually disappeared with the need to reduce the dose.
Now commanding a market cap of $222.49M, MJNA has 3.18B in outstanding shares. The CBD Oil market is an exciting one and MJNA is looking to take advantage. MJNA has unverified 12-month revenues of $14.1M. As more data breaks on the trial and the next steps, we will update readers. Sign-up for continuing coverage on shares of $MJNA stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: We hold no position in $MJNA, either long or short, and we have not been compensated for this article.