Canopy Growth Corporation (NYSE: CGC) and its subsidiary, Canopy Health Innovations, announced on August 8th that its proposed clinical trial has gained approval from a No Objection Letter.
The No Objection Letter will allow Canopy Growth to perform a clinical trial to determine the effectiveness of cannabidiol (CBD) treatments for anxiety in specific animals. CBD differs from tetrahydrocannabinol (THC) and does not contain any psychoactive properties. The company and subsidiary received the letter from the Veterinary Drug Directorate of Health Canada.
The CBD formula that will be used in the clinical trial has been used in past studies as a therapeutic treatment for anxiety.