Tilray Jumps on Study of Cannabis for Breast Cancer Side Effects
Tilray Jumps on U.S. Study of Cannabis in Breast Cancer Patients
(Bloomberg) -- Tilray Inc. shares jumped as much as 14% after announcing it successfully imported medical cannabis into the U.S. in support of a clinical trial studying its efficacy in treating patients with disorders caused by breast cancer treatments.
The study will focus on patients suffering from taxane-induced peripheral neuropathy, or TIPN, secondary to treatment with paclitaxel or docetaxel. TIPN affects more than 67% of women undergoing breast cancer treatment, the company said.
Read more: Tilray® Supports New Clinical Trial Evaluating the Efficacy of Medical Cannabis in Disorders Caused by Breast Cancer Treatment
“Tilray is committed to advancing cannabis research through its support of clinical trials around the world as we continue to enhance our understanding of the potential benefits of medical cannabis,” Philippe Lucas, vice president of global patient research and access, said in a statement.
Tilray shares were trading around $24.87 at 3:25 p.m. in New York, down 65% since the start of the year.
To contact the reporter on this story: Gregory Calderone in New York at gcalderone7@bloomberg.net
To contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Jeran Wittenstein
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