LOS ANGELES, CA–(Sep 27, 2017) – Vitality Biopharma, Inc. (OTCQB: VBIO) (“Vitality”, “Vitality Biopharma”, or the “Company”) a corporation dedicated to the development of cannabinoid prodrug pharmaceuticals, and to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders, is pleased to advise that SeeThruEquity, a leading independent equity research and corporate access firm focused on small-cap and micro-cap public companies, today announced that it has issued a company update on Vitality Biopharma, Inc. (VBIO) and increased its 12 month price target to $2.40. The content of their news release follows.
The note is available here: VBIO September 2017 Update Note.
Vitality Biopharma, Inc. (OTCQB: VBIO, “Vitality”) is focused on the development of cannabinoids for the treatment of serious neurological and inflammatory disorders. Formerly Stevia First, Vitality is now focused on developing a new class of cannabinoid pharmaceuticals called cannabosides. Cannabosides were discovered in 2015 through the application of the company’s proprietary enzymatic bioprocessing technologies which were originally developed for stevia sweeteners. Cannabosides are prodrugs that enable targeted delivery of cannabinoids to the gut and enables them to provide relief from pain and inflammation without any psychoactive or intoxicating side effects. Initially, Vitality will seek to develop cannaboside prodrugs for the treatment of inflammatory bowel disease (IBD), including Crohn’s disease and ulcerative colitis, as well as narcotic bowel syndrome (NBS), a severe form of opiate-induced bowel dysfunction. Vitality’s lead candidates include VITA-100 for acute treatment of IBD and NBS, and VITA-210, which is being investigated for chronic treatment of irritable bowel syndrome, IBD, neuropathic pain, and muscle spasticity in multiple sclerosis.
Vitality Biopharma recently provided several investor updates with highlights including:
- Positive preclinical efficacy results for its cannabosides in the treatment of drug-resistant inflammatory bowel disease (IBD)
- New capital raised in a $1mn in a private placement comprising the sale of 0.67mn shares of stock at $1.50
- FY1Q18 EPS of ($0.05) per share as the company invested in advancing candidate development, intellectual property, and organizational capabilities as a biotechnology company
Recent Vitality data released for IBD treatment
We were pleased to see Vitality release positive preclinical data on the efficacy of its cannabinoid glycosides, or cannabosides, over the last several months. Most notably, on July 19, 2017, the company disclosed positive pre-clinical results for its gut-targeted cannaboside prodrugs. The gut-targeted cannabosides are ingested and can be targeted and limited to the gastrointestinal tract, avoiding drug psychoactivity. The company reported that its cannabosides reduced weight loss, decreased colon damage, and improved overall gastrointestinal health compared to placebo controls in a preclinical model of colitis. We view the announcement as a key development for the company as positive pre-clinical efficacy results with cannabosides are required in order for the company to advance to in-human clinical trials.
Large market opportunity for IBD treatments
Vitality Biopharma is clearly pursuing a large opportunity as it develops cannabinoid prodrugs for a variety of neurological and inflammatory disorders. We expect the company will initially target inflammatory bowel disease (IBD) — a market estimated to be $9.7 billion in 2017 by research firm Visiongain. IBD is a chronic autoimmune condition in which parts of the digestive system become sore and inflamed; it also is a key risk factor for colon cancer and other opportunistic infections such as C. difficile. There are approximately 1.6mn Americans living with the most common forms of IBD, which are Crohn’s disease and colitis.
Increasing target to $2.40
We are updating our target to $2.40 following recent results, management commentary on efforts to expand its IP position, recent financing activities, and the disclosure of positive preclinical data for cannabosides in IBD models. Upcoming catalysts include trial activity for VBIO’s lead candidates, VITA-100 and VITA-210, which are expected to commence in 2017.
Please review important disclosures on the company’s website at www.seethruequity.com.
Since its founding in 2011, SeeThruEquity has been committed to its core mission: providing impactful, high-quality research on underfollowed small-cap and micro-cap equities. SeeThruEquity has pioneered an innovative business model for equity research that is not paid for and is unbiased. SeeThruEquity is the host of acclaimed investor conferences that are the ultimate event for publicly traded companies with market capitalizations less than $1 billion.
About Vitality Biopharma, Inc.
Vitality Biopharma is dedicated to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. www.vitality.bio. Follow us on Facebook, Twitter and LinkedIn.
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements” as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.