BOT has released very encouraging results from its recently completed BTX1308 and BTX1801 studies. It has been shown in its BTX1308 psoriasis study that Cannabinoid (CBD) has anti-inflammatory and immune modulating activity in skin disease. BOT is still to release the patient data from the study, and these results are imminent. The BTX1801 antimicrobial study has shown that CBD when combined with Permatrex, is an effective treatment for antibiotic-resistant bacteria. Of critical importance was that the bacteria did not develop resistance to BTX1801. Both of these results bode well for BOT’s CBD based product set as CBD has shown anti-inflammatory and anti-microbial properties with a very strong safety profile. We maintain our SPEC BUY recommendation and $0.20 PT, which is under review pending the release of the BTX1308 Phase 1b study results.
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