NEW YORK, NY / ACCESSWIRE / November 7, 2018 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has issued an update note on Vitality Biopharma, Inc. (OTCQB: VBIO) with a Target Price of $3.50.
The report is available here: November 2018 Update Note.
Vitality Biopharma, Inc. (OTCQB: VBIO, ''Vitality'') is focused on the development of cannabinoids for the treatment of serious neurological and inflammatory disorders, as well as pain and opioid addiction. Vitality's development pipeline is focused on a new class of cannabinoid prodrug pharmaceuticals called cannabosides. Cannabosides were discovered in 2015 through the application of the company's proprietary enzymatic bioprocessing technologies. Cannabosides are cannabinoid glycoside ''prodrugs,'' which means they are medications or compounds that, after administration, are metabolized into a pharmacologically active drug. Initially, Vitality is developing cannaboside prodrugs for neurological diseases and inflammatory disorders, beginning with inflammatory bowel diseases such as narcotic bowel syndrome - a form of severe opiate-induced bowel dysfunction. Vitality's lead candidates include VBX-100 for acute treatment of IBD and VITA-210, which is being investigated for chronic treatment of neuropathic pain, IBD, and muscle spasticity in multiple sclerosis.
We are updating coverage of Vitality Biopharma following recent developments at the company, highlights including:
- Vitality announced on October 23, 2018, that the company had secured $8.5mn in new financing from an equity financing.
- The new funding is anticipated to support development plans through 2020, including the initiation of multiple Phase 2 trials for VBX-100 , which is the company's lead cannabinoid drug formulation. VITA-100 is a non-psychoactive, proprietary prodrug formulation of tetrahydrocannabinol (THC) being explored for multiple indications, including treatment of drug-resistant ulcerative colitis and irritable bowel syndrome, colorectal cancer, C difficile, and narcotic bowel syndrome. VBX-100 is differentiated by its targeted delivery of THC to the large intestine without psychological effects associated with THC.
- Establishment of new unit to explore alternatives to opioids. The financing will also support Vitality Healthtech, Inc., a new subsidiary focused on the emerging use of cannabinoid therapies as an alternative to opioid painkillers. There are more than 2mn opiate-dependent Americans, and no well-established and reliable methods have been established to help these individuals safely reduce and eliminate their use. Vitality Healthtech, Inc. will establish treatment centers and explore treatment options using cannabinoids as an alternative to opioid painkillers.
- Vitality previously announced encouraging pre-clinical data for VBX-100 showing that reduced weight loss, decreased colon damage, and improved overall gastrointestinal health. The company reported positive safety data for VBX-100 and is planning Phase 2 trials to explore VBX-100 as a treatment for multiple indications, including Inflammatory Bowel Disease (inducing remission), Irritable Bowel Syndrome, C.difficile-associated Diarrhea and Colitis, Narcotic Bowel Syndrome.
Increasing target to $3.50
Please review important disclosures in the report and on our website at www.seethruequity.com.
About Vitality Biopharma, Inc.
Vitality Biopharma is dedicated to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. www.vitality.bio.
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