Aleafia Health Inc (OTCMKTS:ALEAF) is up over 300% in the last month on the news that broke of a partnership with Cronos Group. Cronos and Aleafia along with Gingko Bioworks are working in concert to tackle insomnia. The three companies will study and use CBD to tackle this malady that happens to be very big business.
“For far too long, the answer to a patient’s sleeping disorder or chronic pain has been a prescription and a bottle of pills,” said ALEAF Chief Medical Officer Dr. Michael Verbora. “There is mounting evidence of the risks of prescription sleeping aids including worsening mental health and increased risk of dementia. This study may in part point to medical cannabis as an alternative to harmful prescription drugs.”
Aleafia Health Inc (OTCMKTS:ALEAF) bills itself as a company that owns and operates a healthcare clinic that provides medical cannabis therapy to achieve optimum recovery and minimize illness and injury’s cumulative effects. The company provides medical cannabis therapy, pain management, physiotherapy, chiropractor, osteopathy, registered massage therapy, laser therapy, orthotics, and custom braces and compression socks. It provides consulting and support services for managing cannabis-sensitive cases.
The company assists rehabilitation professionals, case managers, social workers, life care planners, psychologists, family physicians, physiotherapists, litigators, and third-party insurance companies. Aleafia Inc. is based in Concord, Canada.
According to company materials, “Aleafia is a leading, vertically integrated medical cannabis company with a unique focus on delivering quality patient care from “seed” to “sale.” Aleafia is uniquely positioned with a singular focus on the medical cannabis market. The company operates the largest brick and mortar medicinal cannabis clinic network in Canada under the Canabo Medical Clinic brand, which is staffed by licensed, practicing physicians. Aleafia has obtained over 50,000 unique patients and maintains the largest medical cannabis patient data set in Canada. Aleafia’s state of the art production facilities will allow for the production of high-quality strains at low cost. Aleafia’s production will focus on securing the highest-quality medicinal product for its growing patient base.”
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As stated above, insomnia globally is a complicated issue that accounts for $2.18B with a CAGR of 5.3%. And, to be fair, this project is quite interesting. Gingko Bioworks will use cultured, fermented cannabis DNA to isolate unique aspects of the cannabis plant – specifically ones that could be beneficial for sleep.
“The potential uses of cannabinoids are vast, but the key to successfully bringing cannabinoid-based products to market is in creating reliable, consistent, and scalable production of a full spectrum of cannabinoids, not just THC and CBD,” said Mike Gorenstein, CEO of CRON.
Carrying a market cap of $315.15M, Aleafia Health Inc (OTCMKTS:ALEAF) has a significant war chest ($30.3M) of cash on the books, which stands against virtually no total current liabilities. ALEAF is trading strong now and this week will be a decent barometer to tell if they can hold these gains. We will be writing updates as more news hits the wire. Sign-up for continuing coverage on shares of $ALEAF 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 $ALEAF, either long or short, and we have not been compensated for this article.