Zelira Therapeutics Ltd (ASX:ZLD) (OTCQB:ZLDAF) has been granted a trading halt pending the release of interim results of its insomnia clinical trial.
Shares will remain halted until the earlier of either the release of relevant information or the commencement of trading on Wednesday 19 February 2020.
Trial treating 24 patients in Perth
The Zelira insomnia trial was designed to evaluate the safety and efficacy of a cannabinoid extract containing THC and CBD in patients with symptoms of clinically diagnosed chronic insomnia.
This trial is the first in the world to have a primary endpoint assessing the impact of a full-spectrum cannabis extract on sleep.
A randomised, double-blinded, placebo-controlled, cross over study design was used to treat 24 patients with Zelira’s proprietary insomnia formulation and a placebo formulation delivered sublingually.
Insomnia is a multibillion-dollar market
An estimated 70 million Americans have insomnia where the market for prescription and over-the-counter medications used to treat the condition generates over US$2 billion in annual revenue.