Cannasat Therapeutics Reports Results for the Three Months Ended March 31, 2022
CNNMatthews, May 23, 2022
Operational Highlights
Continued to advance CAT 310, a rapid onset neuropathic pain product, towards the end of pre-clinical development in preparation for Phase I clinical testing later this year.
Continued development of CAT 210, a local neuropathic pain product, in preparation for in vivo pre-clinical testing.
Reached a new collaborative agreement with IntelGenx Corporation to co-develop CAT 320, a product that will target the endocannabinoid system to treat mood disorders such as anxiety and depression.
Financial Highlights
Cash and cash equivalents at March 31, 2022 of $787,252.
Net loss of $443,841 (2006: $468,292), in line with expectation.
Report 66,220,290 common shares outstanding at March 31, 2007.
On April 25, 2007, announced the closing of a non-brokered private placement raising gross proceeds of $833,850.
In announcing the results, David Hill, Chief Executive Officer of Cannasat, said:
“During the first quarter, Cannasat made good progress in advancing our lead product, CAT 310. As planned, we are on track to finalize our prototype formulations and submit a Phase I Clinical Trial Application to Health Canada in Q2/Q3. Our key priority for the rest of the year will be the commencement of our Phase I clinical trial for CAT 310. In addition, Cannasat will leverage the Company's skills and technologies in cannabinoid science and drug delivery to advance CAT 210 and CAT 320.”
About Cannasat Therapeutics
Cannasat Therapeutics is researching the therapeutic benefits of cannabis and developing new cannabinoid pharmaceutical products. Cannasat is pursuing two complementary business strategies. The first consists of development of novel cannabinoid-based pharmaceutical products through application of drug delivery technologies to be introduced to the market through the traditional regulatory drug approval process. The second is to promote medicinal cannabis research and education with Cannasat's business partner, Prairie Plant Systems Inc., the only government licensed grower and distributor of medicinal cannabis in Canada.
Contact Information
Cannasat Therapeutics Inc.
Andrew Williams
Chief Operating Officer
W: (416) 703-2449 (Ext. 253)
F: (416) 703-8752
[email protected]
www.cannasat.com
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