Shares of InnoCan Pharma Corporation (CSE: INNO ) (FSE: IP4 ) (OTCQB: INNPF ) hit an all-time high on the Canadian Stock Exchange in September 2021, rising about 300% from its opening price on the stock market However, the stock is down 40% this year as capital markets continue to suffer from macroeconomic headwinds. However, InnoCan shares have shown some strength of late, but the best is yet to come with many promising developments on the horizon.
InnoCan Pharma is a specialty pharmaceutical company based in Israel that pioneered CBD-Pharma delivery technologies. The company develops solutions that combine unique properties of cannabinoids (CBD) with other pharmaceutical chemicals delivered via intelligent delivery systems to treat CNS cell damage as well as muscle and rheumatic pain. The company is at the forefront of a revolutionary drug delivery market that aims to address the growing need for less painful and more effective drug delivery methods. InnoCan’s primary goal is to address the low bioavailability of CBD products with its LPT and exosomes drug delivery platforms, which the company believes are more effective and have the potential to improve bioavailability performance.
The company is revolutionizing the cannabinoid treatment market and has numerous drug delivery platforms that, once commercialized, have the potential to generate significant value for investors. This is shown in the company’s most recent quarter, which demonstrates InnoCan’s continued efforts towards growth and stability.
InnoCan announced strong financial results for the quarter ended March 31, 2022, with revenue of $0.26 million in the first quarter of 2022 compared to $0.19 million in 2021 and an increase of 600 % 1Q21 Net loss was $0.7M, compared to a net loss of $4.8M in 1Q21, representing an improvement of nearly 85% interannual Operating loss (excluding financing charges or income) was $1.8 million, down 30% year over year. Also, at the end of 1Q-22, the cash balance stood at $9.5 million, up 215% year-over-year.
Drug pipeline and R&D efforts
InnoCan’s main research focus is on LPT CBD-loaded liposomes, with a focus on increasing the bioavailability of CBD in the body, which currently ranges from 6% to 35%. This approach will have long-term therapeutic effects because it allows for precise and controlled dosing as well as a predictable release of CBD into the bloodstream. Initially intended for human use, the company also saw promising results in the treatment of a number of diseases in dogs. Last year, the company conducted a series of animal trials that demonstrated improved pharmacokinetic (PK) performance, confirming that InnoCan’s strategy of making CBD available to humans and animals for an extended period of time is feasible with a single dose.
InnoCan was able to focus on the commercialization of veterinary medicine because of promising results in the treatment of various disorders in dogs. The company recently revealed encouraging findings from preclinical research using LPT to treat epileptic seizures in dogs. Epilepsy is a chronic brain disease marked by unexpected and repeated seizures. In this trial, a 9-year-old dog with drug-resistant refractory idiopathic epilepsy was treated with LPT injections. The dog received several injections of the drug LPT, with an interval of 4 weeks between injections, and the results showed that the frequency and intensity of the dog’s epileptic seizures had significantly decreased since the last LPT injection on d 25 April, and the dog hasn’t done it. had any seizures in more than 10 weeks. InnoCan also reported a favorable outcome of its liposomal-CBD formulation therapy (LPT) for a dog with hip and elbow osteoarthritis earlier this year. This is a big step forward for the company as it looks to commercialize its revolutionary technology.
Once InnoCan begins licensing and monetizing its technology, the company will have a first-mover advantage in the $52 billion veterinary services market. This new industry has promising economic prospects, and research in this sector is gaining momentum. In addition, the favorable results associated with the use of CBD medicines to treat serious animal diseases have opened the way to many therapeutic possibilities for LPT. The medical use of the LPT platform for both animals and humans is a major step forward.
Additionally, InnoCan is working on CBD-infused cosmetics and body care products, as well as topical compositions for the treatment of diabetes symptoms and multiple compositions, including cannabis, for the treatment of diabetes-related disorders. InnoCan has two lines of dermatological cosmetics that have already acquired brand approval: Synny and Shir which are available in Europe and Canada. On August 8, the company announced the filing of a new patent application (PCT) titled “Compositions for the Treatment of Hair Loss,” which can be used topically on the skin or scalp to treat and prevent hair loss. This application significantly contributes to InnoCan’s continued expansion of its portfolio of 14 patents.
This year, the company achieved an important milestone by completing the physicochemical characterization of its medicinal product CBD Liposome, which is a critical component of the FDA application process. The company recently announced the appointment of Nissim Vasilevski as an analytical chemist to help accelerate key development and validation of InnoCan’s LPT product line to human clinical trials and submission to the Food and Drug Administration (FDA) of the USA.
InnoCan has an exclusive worldwide license agreement with Yissum, the commercial arm of the Hebrew University of Jerusalem, to develop an LPT drug delivery platform. InnoCan will be able to continue its research and development projects with the assistance of Yissum in order to generate significant levels of long-lasting CBD in the body, with effective and continued therapeutic benefits.
The company is also working with Tel Aviv University’s technology transfer company Ramot on a game-changing exosome-based technology that could aid in the recovery of infected lung cells. This technique, which will be given by inhalation, will use CBD to target both CNS and Covid-19 indications.
CBD is effective in treating a wide range of medical conditions, highlighting the potential for CBD to expand into the medical and healthcare industries. Several successful research trials conducted by InnoCan, as well as the growing need for CBD in healthcare, indicate that the company has the potential to reward investors handsomely.