It’s no secret that cannabis plants offer various medical purposes. With the marijuana industry increasing as much as it has, there have been more treatment options surfacing, but adequate research is still lacking in some instances. As a result, cannabis stocks that focus the most on medical marijuana safety have been the ones gaining a competitive advantage in the market.
In this article, we’re going to look at three small-cap Canadian cannabis stocks that have a clinical trial advantage, choosing to focus on determining the medical benefits of cannabis rather than simply creating new products.
Three Canadian Cannabis Stocks with a Clinical Trial Advantage
1. CannTrust Holdings (TSX:TRST) (NYSE:CTST)
Based in Ontario, Canada, CannTrust Holdings serves the Canadian market by delivering and producing cannabis products. On paper, this cannabis stock looks as if it’s doing everything right. In addition to its 60,000 square foot facility in Vaughan, Ontario and its 450,000 square foot harvest facility in the Niagara area, CannTrust Holdings has a strong presence in the medical side of the cannabis industry.
With a patient-focused business model, CannTrust Holdings is working with McMaster University to conduct medical cannabis research on chronic pain, while also partnering with Australia’s Gold Coast University Hospital to conduct a placebo-control clinical trial looking at the efficacy of CannTrust Holdings’ CBD oil capsules.
At the time of writing, TRST stock is up 0.15% in Toronto trading.
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2. Columbia Care, Inc. (OTCPK:COLXF)
Columbia Care is one of those cannabis stocks that not only sets a standard in terms of products, but it is also one that focuses on the safety and efficacy of medical cannabis use, which is more than some of its market counterparts.
Earlier this month, Columbia Care announced that it was launching a credit card for purchases. And while that’s an industry milestone, it’s hard to focus on anything but the company’s study with Westmed Medical Group; this research study is testing the safety of cannabis-based medicines to treat rheumatologic patients. That, and Columbia Care’s study with the Center of Discovery, which is again looking at the use of cannabis-based medicines, but this time, the company is looking at its ability to treat epilepsy.
At the time of writing, COLXF stock is trading down 3.17%.
3. Tetra Bio-Pharma, Inc. (TSXV:TBP) (OTCQB:TBPMF)
Tetra Bio-Pharma is similar to Columbia Care in the sense that while it’s creating diverse products—Tetra’s subsidiary creates hemp energy drinks—it’s the work that the company is doing in regards to the medical aspect of the industry that proves the most interesting.
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Based in Ontario, Canada, Tetra Bio-Pharma is a biopharmaceutical multifaceted corporation that focuses on CBD drug development and discovery. In addition to creating hemp energy drink products, the cannabis stock also runs a clinical trial program, and earlier this year, announced plans to conduct a clinical trial that looks at the efficacy of its PPP003 ophthalmic drug. It also has a clinical program that handles pain management for patients with advanced cancer.
At the time of writing, TBP stock is down 1.72%.
Takeaway
Sometimes, it’s not about releasing a new product every week. Sometimes, it’s more important to be a cannabis stock that spends time focusing on efficacy and safety so that it can help educate professionals and patients on the use of medical cannabis.
What do you think?
Featured image: PixaBay
