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

Sam Boughedda
Sam Boughedda trader
Updated 12 Jul 2021

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MGC Pharmaceuticals (LON: MXC)

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.

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.

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Sam Boughedda
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.