Nano cap Valeritas Holdings (NASDAQ:VLRX) is up 41% premarket on average volume in reaction to positive results from a pharmacokinetic study demonstrating "rapid and robust" absorption and distribution of 40 mg of cannabidiol (CBD) over 24 hours with its h-Patch technology.
CBD was detected within one hour of the start of infusion followed by prolonged elimination at almost steady-state levels still detectable 24 hours after the completion of infusion (total of 48 hours). Peak plasma levels were comparable with a single oral dose of 300 mg.
The company is seeking partners to develop the technology with their respective therapeutics.
H-Patch, used in its V-Go insulin delivery system, is a disposable device that is placed on the skin for the controlled subcutaneous delivery of drugs. The company says it combines the advantages of transdermal patches with the accuracy and flexibility of ambulatory pumps.
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