Vancouver-based Harvest One Cannabis Inc. (HRVOF, OTC)), through its Swiss-based subsidiary Satipharm, announced positive results on July 24 from its small-scale Phase 2 clinical trials in treatment-resistant children with epilepsy.
The trial was an open-label study to evaluate oral use of Satipharm’s CBD capsules as an adjunct to other treatments. The capsules significantly reduced monthly seizures in a small set of treatment-resistant children when added to current medications.
However, due to the small number of participants (16), investors should be cautious not to read too much into the results until they are further substantiated on a larger scale.
The news caused the stock to very briefly rally, but it then continued a yearlong downward trend from its high of $1.50 last January back to $0.50 recently, where it long resided before this year. In the last week, the stock has increased from $0.50 to $0.60.
Approximately 100,000 children in North America suffer from treatment-resistant epilepsy, causing uncontrollable seizures. The incidence of this disease remains high despite new antiepileptic drugs. About one third of patients with epilepsy are resistant to treatment. Many available epilepsy drugs have side effects such as impairment of motor skills and cognitive abilities.
In the study, nine of 16 patients (56%) who started the treatment had a reduction of at least 50% in total number of seizures during the entire treatment period.
The test was run by Israeli-based PhytoTech Therapeutics (PTL). Harvest One will acquire PTL from MMJ PhytoTech pending MMJ shareholder approval.
Harvest One is a global cannabis company focused on developing innovative cannabis products. It is 38% owned by MMJ PhytoTech. Shareholders have exposure to various parts of the cannabis business through three wholly-owned subsidiaries: United Greeneries, a Licensed Producer; Satipharm AG in Switzerland, a medical and pharmaceutical firm; and Dream Water Global, a consumer goods division.
Harvest One July 24th press release
Yahoo Finance Harvest One Aug 27th page