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InnoCan Pharma ( (TSE:INNO) ) just unveiled an announcement.
Innocan Pharma announced that its patent for the Liposomal CBD Injection Technology (LPT-CBD) has been allowed in Japan, marking a significant milestone in the world’s third-largest pharmaceutical market. This patent, which covers a prolonged-release formulation of synthetic CBD, strengthens Innocan’s global intellectual property portfolio and supports its positioning as a leader in non-opioid chronic pain management solutions. The development of LPT-CBD, in collaboration with experts from the Hebrew University in Jerusalem, has shown promising results in preclinical studies, and the company is advancing towards FDA approval, potentially impacting its market presence and offering a new alternative for chronic pain management.
The most recent analyst rating on (TSE:INNO) stock is a Hold with a C$13.00 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. Technical analysis shows mixed signals, with no clear trend direction. The valuation is poor due to a negative P/E ratio and lack of dividends, further weighing down 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, focusing on developing a CBD-loaded liposome drug delivery platform for non-opioid pain management and a wide portfolio of self-care and beauty products aimed at promoting a healthier lifestyle.
Average Trading Volume: 1,828
Technical Sentiment Signal: Buy
Current Market Cap: C$85.93M
Find detailed analytics on INNO stock on TipRanks’ Stock Analysis page.