PALO ALTO, Calif. - 180 Life Sciences Corp. (NASDAQ: ATNF), a biotechnology company, revealed today the preliminary findings of a clinical pharmacology study comparing the absorption of cannabidiol (CBD) in solid versus liquid formulations. The study, conducted in collaboration with Prof. Avi Domb from the Hebrew University and Prof. Elyad Davidson from Hadassah Hospital, assessed the pharmacokinetic profile of two solid CBD formulations against Epidiolex, an FDA-approved epilepsy drug.
The crossover randomized trial involved twelve male volunteers who received all three CBD formulations. The results indicated that one solid form was absorbed more quickly and reached higher maximal levels than Epidiolex, which is administered as a liquid solution.
CBD, known for its non-psychoactive properties, has been studied for potential therapeutic benefits in treating various conditions, including inflammation and pain. However, its unpredictable absorption when delivered orally as a liquid has been a challenge. The ProNanoLipospheres (PNL) technology, developed by Prof. Domb and his team, consists of over-the-counter components forming small droplets believed to enhance gastrointestinal absorption into the bloodstream.
The study's findings suggest that the PNL-based solid capsule outperformed the liquid Epidiolex in terms of absorption speed and maximal levels achieved. The second PNL formulation was statistically equivalent to Epidiolex in these aspects.
180 Life Sciences anticipates that these trial results will be submitted for scientific publication at a later date. The company does not expect the trial's outcome to impact its financial results for the year ended December 31, 2024.
180 Life Sciences Corp., a clinical-stage biotechnology company, has been granted an extension by the Nasdaq Listing Qualifications Panel to remain listed on The Nasdaq Stock Market. This decision comes with specific conditions that the company must meet by July 31, 2024. These conditions include a detailed public disclosure of actions taken to comply with Nasdaq’s listing rules and evidence of sustained compliance with the minimum stockholders’ equity requirement.
The company had previously been notified of its non-compliance with Nasdaq Listing Rule 5550(b)(1), which requires maintaining a minimum stockholders’ equity of $2.5 million. Despite an extension to regain compliance, the company was unsuccessful and received a notice of delisting.
Interim CEO Blair Jordan expressed confidence that the extension will allow adequate time for the company to execute its plan to meet Nasdaq’s requirements. However, it's important to note that there is no guarantee that 180 Life Sciences will be able to meet the imposed deadlines or conditions or regain full compliance with the continued listing standards.
InvestingPro Insights
As 180 Life Sciences Corp. (NASDAQ: ATNF) continues to innovate with its CBD pharmacokinetic research, the financial health and market performance of the company remain critical for investors. According to InvestingPro data, ATNF's market capitalization stands at a modest 2.12M USD, reflecting its status as a small-cap biotech firm. Despite the potential promise of its research, the company's financial metrics indicate challenges, with an operating income adjusted for the last twelve months as of Q1 2024 at a negative 10.77M USD and a substantial return on assets of -176.9%. These figures underscore the company's current lack of profitability, which is also highlighted by an adjusted P/E ratio of -0.25 for the same period.
Investors might take note of the company's recent price performance, which shows a strong return of 36.36% over the last month. This could suggest a growing investor confidence or a reaction to recent developments within the company. However, it's important to consider this in the context of a longer-term view, where the price has decreased significantly, with an 87.06% drop over the last year.
Two InvestingPro Tips to consider are that 180 Life Sciences operates with a moderate level of debt and does not pay a dividend to shareholders. This could be relevant for investors who prioritize capital growth over income or are concerned about the company's financial leverage. Additionally, the company's short-term obligations exceed its liquid assets, which may raise questions about its financial resilience in the face of unexpected challenges.
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