Pot smokers who trade penny stocks all know about the marijuana focused companies and can tell you everything about how legalization is inevitable. However, one OTC listed biotech stock, Lightlake Therapeutics Inc (LLTP), may be a complimentary addition to their portfolio with their search to cure Binge Eating Disorder. LLTP stock doesn’t see near the volume traded that CBIS or MJNA does, but with positive Phase II study results last month, its time to pay more attention to them.
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LLTP Stock Chart
Market Cap: 19.24M
Close: 0.164, up 0.005 (3.14%)
Volume: 542,500
Dollar Volume: $88,159
High: 0.165
Low: 0.16
Trades: 30
Average Trade Size: 18,083
Authorized: 200,000,000
Issued and Outstanding: 117,340,901
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Lightlake conducted its Phase II clinical trials in Helsinki, Finland to investigate the use of the opioid antagonist naloxone intra-nasally as a treatment for Binge Eating Disorder. The results reported August 8th was a statistically significant reduction in time spent per week binge eating compared to those patients who received a placebo nasal spray, reducing their bingeing by 125 minutes per week compared to 84 minutes per week for placebo-treated subjects. Funny, my mother, at no extra charge, used to just scream out “Eat A Carrot You Fat Tub Of Lard!”
Seriously though, Lightlake has spent $22,264,916 as of April 30th developing both their Binge Eating Disorder nasal spray as well as testing for a treatment to combat Bulimia Nervosa, the exact opposite of their use of naloxone intra-nasally to treat binge eating. It’s not an anal spray which causes constipation for Bulimics, but it is rather odd that Binge Eating Disorder is also referred to as BED which is where you want to go after a proper pig out session.
There is no lack of qualified persons that would be able to use Lightlake’s therapy for their health benefits. When they were preparing for the Phase II study, 138 patients were randomly selected from over 900 applicants that met the criteria and wanted to participate in the trials for Binge Eating Disorder. Spray something or up your nose or go to the gym, go to the gym or spray something up your nose – love that nose candy!
About LLTP Stock
Lightlake Therapeutics, Inc. is an early stage biopharmaceutical company using its expertise with opioid antagonists to develop modern treatments for common addictions and related disorders. Currently, Lightlake is focused on developing a treatment for overweight and obese patients with Binge Eating Disorder, which is thought to be the most common eating disorder in the U.S. today, and a treatment for patients with Bulimia Nervosa, which is a condition estimated to be affecting five million people in the U.S. at this time.
For the Company’s future endeavors, they claim to have patents that will allow them to widen their product pipeline to address patients with addictions to opioid painkillers, methadone, cocaine and amphetamine.
Click here to view the SEC filings for LLTP.
Bottom Line: LLTP is a biotech penny stock that is well worth the addition to the list of penny stocks to watch. It surely isn’t going to tip the scales or go emaciated on you where your investment get so thin that the cost of the trade is more than the value of the investment itself. However, if their version of nose candy can stop people from over eating and they come across a solution for bulimia, big breasted women and fat belly men wont fit so snug when they hug in the future but LLTP stock price could fatten up because of it.
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