Innocan Pharma’s LPT-CBD Shows Promising Results in Pain Relief Study

InnoCan Pharma ( (TSE:INNO) ) just unveiled an announcement.

Innocan Pharma has published promising results from a study on its Synthetic Liposomal Cannabidiol (LPT-CBD) injections, which were administered to goats suffering from chronic pain. The study demonstrated sustained pain relief, improved mobility, and enhanced quality of life without adverse effects, suggesting potential for similar results in humans. This advancement in non-opioid chronic pain therapy highlights the long-term safety profile of LPT-CBD, particularly as it does not elevate liver enzymes, unlike repeated oral CBD intake.

The most recent analyst rating on (TSE:INNO) stock is a Hold with a C$15.50 price target. To see the full list of analyst forecasts on InnoCan Pharma stock, see the TSE:INNO Stock Forecast page.

Spark’s Take on TSE:INNO Stock

According to Spark, TipRanks’ AI Analyst, TSE:INNO is a Neutral.

InnoCan Pharma’s overall stock score is primarily impacted by its weak financial performance, characterized by declining revenues and negative profitability. While technical analysis shows some positive momentum, the valuation remains unattractive due to negative earnings. The absence of earnings call insights and corporate events further limits the score.

To see Spark’s full report on TSE:INNO stock, click here.

More about InnoCan Pharma

Innocan Pharma is an innovator in the pharmaceuticals and wellness sectors, developing a CBD-loaded liposome drug delivery platform for non-opioid pain management and a wide range of self-care and beauty products through its subsidiary, BI Sky Global Ltd.

YTD Price Performance: 12.75%

Average Trading Volume: 2,017

Technical Sentiment Signal: Buy

Current Market Cap: C$69.24M

See more data about INNO stock on TipRanks’ Stock Analysis page.