MGC Pharmaceuticals (MXC) Shares Gain As Phase 3 CimetrA Trial Begins

MGC Pharmaceuticals (LON: MXC) said the phase 3 clinical trial to evaluate the efficacy and safety of CimetrA as a treatment for hospitalised patients diagnosed with COVID-19 has now commenced following the recruitment of the first patient.

The company’s co-founder and managing director, Roby Zomer, said the trial commencing “is a milestone for both MGC Pharma and the medicinal cannabis industry.”

In total, 252 patients will be enrolled in the double-blind placebo-controlled clinical trial following the CimetrA Investigational Medicinal Product (IMP) production, validation, and ethics committee approval.

WELCOME BONUS - Free Share Bundle When You Invest £50! Get up to £500 cashback for investing with IG.

Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.

5.0

Open Account Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

The study’s results will also be submitted to the European Medicines Agency (EMA).

“Testing CimetrA™ as an IMP will have great implications for those suffering with COVID-19 and ensure the risk of healthcare systems becoming overwhelmed is minimised,” said Zomer.

MGC Pharmaceuticals share price is up 2..3% at 2.14p following today’s news.

Should You Invest in MGC Pharmaceuticals Shares?

One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It’s a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now