Maker of cannabis-based drugs Kannalife surges on market debut
09/12/2019 15:57
** Cannabis-based medicine developer Kannalife Inc's shares
KLFE.PK rise 25% to $1.50 on their debut
** "The last seven years where we've evaluated the prospect
of going public, the IPO market never really emerged as a sound
marketplace for a variety of different reasons" - CEO Dean
Petkanas to Reuters
** Being cobbled together with the CBD companies has been
the KLFE's "biggest challenge"; CBD or cannabidiol is the
non-psychoactive component of marijuana that is increasingly
being used in consumer products - Petkanas
** KLFE's experimental treatment for neuropathic pain,
KLS-13019, is a cannabis-derived molecule
** Preclinical data has shown KLS-13019 to be safer and
significantly more potent than pure cannabidiol, the
non-hallucinogen component in cannabis, in protecting brain
cells
(Reporting by Manas Mishra and Tamara Mathias in Bengaluru)
((Tamara.Mathias@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 1208;))