Nemus Biosciences Inc (OTCMKTS:NMUS) Breaks Out To New Highs

We said last month that Nemus Biosciences Inc (OTCMKTS:NMUS) was set for a breakout and boy were we right on the money. The stock jumped 35% on Tuesday after reporting big news. NMUS hit $.70 a share and looks set to keep climbing. As we take a closer look, there's a lot to like with NMUS and why we believe there's still a lot more room to the upside. NMUS Daily ChartNMUS BackgroundFirst up, a little background info for those that are not familiar with Nemus Biosciences.The Company is a biopharmaceutical company, headquartered in Long Beach, California, focused on the discovery, development, and commercialization of bioengineered cannabinoid-based therapeutics for significant unmet medical needs in global markets.With proprietary technology licensed from the University of Mississippi, Nemus is developing novel ways to deliver cannabinoid-based drugs for specific indications with the aim of optimizing the clinical effects of such drugs while limiting potential adverse events. Nemus' strategy is to explore the use of proprietary biosynthetic compounds, alone or in combination with corporate partners.Nemus is part of the Emerald Health Group, which comprises multiple companies focused on developing pharmaceutical, botanical, and nutraceutical products providing wellness and medical benefits by interacting with the human body’s endocannabinoid system.Latest NewsThe news that got the stock moving was the announcement that NB1111, its prodrug of tetrahydrocannabinol (THC-valine-hemisuccinate; THCVHS), was statistically superior in lowering intraocular pressure (IOP) compared to the prostaglandin-based therapy, latanoprost, the current standard-of-care for treating glaucoma, across multiple time points during a seven-day course of repeated dosing using a validated rabbit normotensive ocular model. The experiments were performed by researchers at the University of Mississippi.A proprietary nanoemulsion formulation developed by the University and used in these experiments extended the pharmaceutical activity time beyond eight-hours, supporting potential human dosing of once- to twice-daily, depending on the time of administration. These results are part of a portfolio of data from multiple sources that highlight the numerous beneficial attributes of Nemus’ cannabinoid-based prodrug as a potential treatment for glaucoma and other eye diseases. Researchers said:

“NB1111 has been shown in animal studies to deliver superior IOP-lowering capability when compared to the major generic medications currently approved for glaucoma: latanoprost, timolol, and pilocarpine. Our approach, using direct ocular delivery, is consistent with the American Academy of Ophthalmology recommendation against cannabis use to manage glaucoma. We look forward to continuing ocular research in other disease processes using THCVHS, as well as human testing of this prodrug.”

Huge Market PotentialGlaucoma is a leading cause of blindness with more than 70 million patients affected worldwide. The market for glaucoma drugs is projected to be approximately $6.6 billion in 2023 but could rise further with the introduction of innovative therapies into Asian markets like China and India. (MarketScope). Lowering intraocular pressure is the current mainstay of therapy. Newer innovative therapeutics, particularly cannabinoid-based drug candidates, look to prevent vision loss through direct neuroprotection of the retinal ganglion cells that comprise the optic nerve.Bottom LineCurrently trading with a market cap of $93 million, Nemus Biosciences is one of the most exciting biotech plays focused on cannabinoid-based drugs. With the latest results from the company's NB1111, there's enormous potential that the drug can become the go-to treatment for glaucoma. With a $6 billion market in front of it, the sky's the limit for Nemus Biosciences in its path to treatment.We will be updating our subscribers as soon as we know more. For the latest updates on NMUS, sign up below!Disclosure: We have no position in NMUS and have not been compensated for this article.Photo by Vladislav Reshetnyak from Pexels