RE:RE:Virtual Roadshow Presentation - Wednesday at 1:00pm ET As I mentioned yesterday, a lot of great information came out of the virtual call that Elsley did, here are some of the points I thought were most interesting and relevant
- the Covid phase 2 / 3 trials have started yet, they should commence soon however Elsley stated he's expecting final FDA approval in the Spring of 2021
- CRDL is well into the process to list on the NASDAQ, Elsley felt this was very important to do as it's the key market to be listed on given the nature of their business, look for this to possibly occur sooner rather than later
- CRDL's product is marketed for medical use only, there are 29,000 Dr's who have written medical Prescriptions in Canada with more and more Dr's recognizing the benefits of CBD. Also the average heart failure costs currently run between $4000 to $8,000 so the upside for CRDL is substantial
- CRDL's primary marketing program is to educate Clinicians who service children and those who are over 65 with the latter being the fastest growing market for CBD
- there has been a lot of chatter on this site about the high costs for Cortalex, Elsley made the point that more and more health care Insurers are covering CBD, and that currently Veterans and Paediatric are covered
- there has been a lot of chatter on this site about Dalton and the role they play and whether they could jettison CRDL, well that's not going to occur as CRDL has a global perpetual and irrevocable agreement with CRDL. Also many Dalton employees own shares of CRDL so the ties and interest in CRDL succeeding is very strong
- Elsley was asked to give guidance on the sales of Cortalex, on this question he stated the current medical market is over $600 hundred million in Canada and the demand for CBD is very strong for Epilepsy and even more so for those over 65
- Covid definitely had an impact on their research and clinical trials so the work for AM phase one didn't start until August however CRDL is expecting results in December