A global leader in the development of cancer related cannabinoid-based therapeutic formulations and medicines just announced that it has completed a pre-clinical study using its proprietary and novel RCC-33 formulation. Dr. Eyal Ballan, Cannabics Pharmaceuticals' (OTCQB:CNBX) CTO said: "the study results brings us one step closer in preparing our submission to the U.S. Food and Drug Administration for a pre-IND meeting."
Traders seemed to be optimistic on the news as shares of the Maryland-based company traded up to $.1899/share (+5.4%) in early trade. This move put the stock over its 50-day SMA as the stock tries to breakout of a five-month slump. Though we may see some consolidation at the 100-day SMA, keep an eye on the newswire to see what’s next for this micro cap stock.
