October 03, 2007 15:44 ET

eResearch Issues Update Report on Cannasat Therapeutics Inc.

TORONTO, ONTARIO--(Marketwire - Oct. 3, 2007) - eResearch analysts, Nigel Heath, BBM (Accounting/Finance), CFA and Bob Weir, B.Sc., B.Comm., CFA,, have written an Update Report on Cannasat Therapeutics Inc. (TSX VENTURE:CTH). Cannasat is a specialty pharmaceutical company focused on developing a portfolio of cannabinoid-based pharmaceutical products.

Cannasat's lead product, CAT 310, targets the under-served neuropathic pain market (US$2.0+ billion), and may also be extended to the larger prescription pain market (US$20+ billion). Phase I clinical trials are now underway, and results could be announced by the end of the year.

As is typical for development stage pharmaceutical companies, changes in the share price valuation will be primarily driven by: (a) successful completion of the phases of clinical testing (i.e. Phases I, II and III) of its products; (b) regulatory approvals; and, (c) the signing of licensing deals with a pharmaceutical marketing company. Each milestone that is successfully achieved could be expected to add significant value while decreasing business risk.

Our Recommendation of "Speculative Buy" and the 12-month Target Price of $0.35 are maintained. We have instituted a long-term price objective for the shares of $1.25.

This Press Release was prepared by eResearch and was not vetted by Cannasat Therapeutics Inc. Further, the Recommendation and Target Price contained in this report are strictly those of eResearch and, due to securities laws, are not endorsed by Cannasat Therapeutics Inc.

eResearch is Canada's primary source for independent, quality, investment research, focused primarily on small- and mid-cap companies. Our research and analysis is of institutional quality, and has the potential of reaching millions of global investors through our extensive electronic distribution network. eResearch does not engage in retail or institutional sales, trading, or corporate finance activities, nor does it conduct investment banking or investor relations services for the companies covered. Our sole business is providing quality, unbiased research.

Cannasat Therapeutics Inc. paid eResearch a fee of C$17,000 + GST to conduct research on the Company, on an Annual Continuous Coverage basis.

Contact Information

  • eResearch
    Bob Weir, CFA, Director of Research
    (416) 643-7643
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