Today was just that day, there was plenty to write about, but we chose to highlight Raphael Pharmaceutical Inc. (OTCQB: RAPH), a clinical-stage biotechnology company advancing a novel cannabinoid-based research platform. The reason? The company announced what we believe could prove to be a game changing positive proof-of-concept clinical study result for the treatment of Rheumatoid Arthritis, a condition affecting many, but until know, one that doesn’t have many good treatment options.
In the company’s press release, Citruslabs, a leading contract research organization, successfully completed the proof-of-concept clinical study in the United States under Institutional Review Board approval and in compliance with U.S. Food and Drug Administration regulations.
Shlomo Pilo, Chairman and CEO of Raphael Pharmaceutical, commented, “The results of our proof-of-concept clinical study are very promising and underscore the potential of our formula to improve quality of life for those suffering from rheumatoid arthritis. We intend to build on this study to create a new, improved, and cost-effective treatment option for members of the large and growing rheumatoid arthritis patient population. Our go-forward pathways include, among other options, potentially partnering with a larger global biopharma company through licensing to develop a patentable drug delivery format for our formula and to advance the manufacturing, marketing and distribution of the final product. Beyond rheumatoid arthritis, we believe that our highly purified cannabinoid-based technology platform may have broader applications to other chronic conditions linked to inflammation, such as autoimmune disease and chronic lung inflammation. We intend to advance our research in these areas as well.”
Key findings of the clinical study were that patients reported lower pain levels, better sleep quality, and improved wellbeing. The disease activity score decreased by 19.2%, reflecting a shift in disease activity from high to moderate, and lastly, more than 80% of the study’s participants expressed a desire to continue using the product.
Shares of RAPH were up 87.5% in mid-afternoon trading, albeit on very low volume. As mentioned, most investors were not aware of this stock, until now.
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