Cannabis stock Bod Australia (ASX:BDA) has entered the fight against what is known as “long-COVID”.
What is ‘long-COVID’?
“Long-COVID” occurs when people suffer COVID-19 symptoms for several weeks of months after the initial onset of symptoms.
Effects include anxiety, fatigue, sleep disturbances and chronic pain and there is no treatment for long-COVID.
But Bod reckons because medical cannabis can address some of these problems in their own right, it could help.
This morning Bod announced a collaboration with Drug Science UK, to assess if Bod’s medicinal cannabis product, MediCabilis, can manage these common long-COVID symptoms.
Drug Science UK is an independent (non-government) scientific body that assesses drugs and their impact.
Bod and Drug Science’s collaboration will eventually result in a UK-based clinical trial to explore the effectiveness of prescribing Bod’s cannabis-based oil MediCabilis to long-COVID sufferers.
COVID another potential cannabis market for Bod
In Britain, Bod’s key market, it is estimated that one in five people who tested positive for COVID-19 still suffer symptoms five weeks later and one in 10 still suffer 12 weeks later.
Bod told shareholders this represented a big opportunity for them and one that wouldn’t go to waste.
Despite the vaccine roll-out speeding up globally, cannabis and non-cannabis companies worldwide are still working on drugs to fight COVID. And they’re assuring shareholders their COVID-fighting efforts won’t be in vain.
“While much progress has been made in the treatment of COVID-19, the effects of the disease are expected to continue for the foreseeable future and symptoms are likely to linger for many patients,” said CEO Jo Patterson.
“This collaboration with Drug Science will not only strengthen the body of evidence for the use of MediCabilis, but also potentially address the growing unmet health concerns around long-COVID.”
“MediCabilis is currently being prescribed for a number of chronic conditions and we are confident that this initiative will provide patients with a pathway to manage the effects of long-COVID and improve their quality of life.”
Bod shares only rose modestly this morning but are up over 300 per cent in the last 12 months.
Other cannabis stocks fighting COVID include Incannex (ASX:IHL) which is also working on a drug to fight COVID as well as Australian Primary Hemp (ASX:APH) and Ecofibre (ASX:EOF) which make cannabis-based PPE.
Bod Australia (ASX:BDA) share price chart
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