On Wednesday, the XPhyto Therapeutics Corp (OTCMKTS:XPHYF) stock was in significant focus among investors after the company provided an update with regard to the progress that has been made in developing the quickly dissolving CBD strips. It was a major announcement from the company and led to considerable action in the stock.
Trading Data
On Wednesday, XPHYF stock jumped 8.38% to $0.90 with more than 18.2k shares, compared to its average volume of 8.98k shares. The stock has moved within a range of $0.8300 – 0.9100 after opening trade at $0.83.
XPhyto epilepsy clinical trial planned in 2022 with its proprietary fast-dissolving CBD oral strips
The stock ended the day with gains of as much as 8% as a consequence. In this situation, it may be a good idea for investors to take a closer look at the announcement. The company announced that the CBD bioavailability study in Europe is going to commence in January next year.
In the statement that was released by the company, it was noted that in this particular clinical trial of its CBD strips product it is going to be ascertained whether it can impart doses precisely and efficiently. It was further stated that if the clinical trial does prove to be successful then it could bring about a significant change in the way in which epilepsy patients could be treated. At this point in time, it may be a good idea for investors to keep the XPhyto stock in their watch lists and watch for further developments.
Key Quote
In a statement, Professor Thomas Beckert, managing director of XPhyto’s German narcotics manufacturing company Vektor Pharma TF GmbH, said: “The clinical trial of our CBD product is aiming to demonstrate the efficient and precise dosing of the treatment.”
Technical Data
XPHYF stock is below the 20-Day and 50-Day Moving averages of $0.9149 and $0.9727 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.4774.
