Ann: First dosing commenced for pivotal EMD-RX5 Phase 3 trial, page-8

First dosing commenced, 200 out of 300 participants screened already, and primary end point of the study being 4 weeks from first dosing. I would expect to see an interim readout of findings/results towards the end of this quarter if not the following quarter.

The comparisons between currently available treatments and the increased scrutiny of even over the counter preparations is worth more consideration here, whilst CBD is not new, its the several improvements to that product which holds market share that is new. That said, they might want to be careful around comparisons with competitors in the sleep disturbance space where companies like IHL are rapidly approaching major breakthroughs in treatment of sleep apnoea (disclosure that I hold IHL as well) and I'm thinking the days of using a CPAP (which I have to) are numbered.

Some say the cannabinoid/cannabinol space has lost its shine and I completely disagree, and I still firmly believe the best shot on goal is for EMD to keep pursuing it and divest the MDMA side of the business either through licensing/partnerships or outright sale of the IP. The company will need a lot of funds and a really long time just to get to the point of trying to get regulatory approval, I just don't know that they are capable of going it alone, they need a big pharma to carry them.

As for our trial, it is targeted to psychological distress from chronic illness and if you know anything about things like adjustment disorders you can see how chronic illness/disease is just the tip of the iceberg as adjustment disorders can come from several causes although the symptoms are all similar and can impact many many people with the only standard treatment being talk therapy. If you haven't noticed yet, psychologists have a very long wait time and Medicare is cutting back the extra sessions available through COVID. People are going to need something alternative to the current standard of care and I don't know of any other company in this space with a product that is superior in this particular area.