Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Nextleaf (OILS) is expanding its R&D program with cannabis vape human trials
  • Qualified volunteers will assess a range of cannabinoid and terpene formulations
  • The company expects the trials to accelerate product development and drastically shorten design cycles
  • According to the Ontario Cannabis Store, the vape category ranks second only to dried flower with 15.7 per cent of sales
  • Nextleaf Solutions is a low-cost producer of cannabis distillate and private label THC and CBD oils
  • Nextleaf (OILS) is up 2.13 per cent and is currently trading at C$0.24 per share

Nextleaf (OILS) is expanding its R&D program with cannabis vape human trials.

The company is collecting sensory data from qualified volunteers assessing a range of cannabinoid and terpene formulations, including how vape hardware interacts with these formulations.

The company expects the trials to accelerate product development and drastically shorten design cycles for launching new cannabis vape products.

According to the most recent data from the Ontario Cannabis Store, the vape category ranks second only to dried flower with 15.7 per cent of all Ontario cannabis sales.

In more mature cannabis markets like Colorado, Oregon and Washington, the market share for cannabis vapes reached as high as 22.3 per cent, according to Headset.

Nextleaf believes the CBD vape subcategory could see significant growth should Health Canada allow for increased legal access to CBD products.

Dr. David Novitski, Nextleaf Solutions R&D Lead, commented,

“The amended Cannabis Research License allows Nextleaf to rapidly formulate a wide variety of cannabis products and administer samples to volunteer research participants. The ability to provide commercial partners with data-based consumer insights around taste and overall user experience is a true game-changer for product development.”

Paul Pedersen, Nextleaf Solutions’ CEO, commented,

“There are a lot of subpar vape products available in the market today that have not gone through rigorous testing and human trials. Issues such as poor taste, clogging, leaking and crystallization in CBD vapes are well documented throughout the industry.

Collecting consumer feedback during product development is key to launching differentiated cannabis 2.0 products that provide consumers with a positive experience and value.”

In January 2021, Nextleaf filed an amendment to its Health Canada Standard Processing Licence that will allow direct sale of finished product to provincially authorized distributors and retailers nationwide. The company expects licensing to be imminent.

Nextleaf Solutions is a low-cost producer of cannabis distillate and private label THC and CBD oils.

Nextleaf (OILS) is up 2.13 per cent and is currently trading at C$0.24 per share as of 11:38 am ET.

More From The Market Herald
MediPharm Labs - Asia Pacific CEO, Warren Everitt

" MediPharm Labs (TSX:LABS) announces cannabis oil delivery to Vayamed

MediPharm Labs (LABS) has completed another GMP cannabis extract delivery to Germany.
CBD Global Sciences - Brad Wyatt, President and CEO

" CBD Global Sciences(CSE:CBDN) purchases Resinosa LLC

CBD Global Sciences Inc. (CBDN) has acquired 100 per cent of the Colorado-based company, Resinosa LLC.
HEXO Corp - Departing CEO, Sebastien St. Louis.

" HEXO’s (TSX:HEXO) St-Louis out as CEO

HEXO (HEXO) has announced executive changes as it completes a strategic reorganization.

" Simply Better Brands (TSXV:SBBC) completes OTCQB listing

Simply Better Brands (SBBC) is now trading on the OTCQB under the symbol PKANF.