BALTIMORE, MD--(Marketwired - Jun 20, 2013) - Goldman Small Cap Research, a stock market research firm focused on the small cap and microcap sectors, reports that the a brand new market in the medical marijuana industry could have a great impact on Nuvilex Inc. (
In recent weeks, an ever-increasingly vocal group of medical marijuana proponents has brought a new idea to the forefront: medical marijuana use for pets.
According to the American Pet Products Association (APPA), pet owners spend around $25 billion annually on pet health care with $15 billion alone going toward various veterinary services. In fact, according to the Veterinary Pet Insurance Co, 70% of pet owners polled said that they would spend whatever it would take to save a pet's life.
The increasingly common diagnosis of cancer and other serious diseases in pets has prompted a number of pet owners that use medical marijuana to give Rex or Spot marijuana to treat his illnesses and increase the quality of life. As the proliferation of medical marijuana research and product development occurs across the U.S., it is natural to assume that the clinical research will migrate to pets as well, which could be a big benefit to Nuvilex.
Since the Company aims to be a leader in medical marijuana research and product development in the oncology arena, Nuvilex could elect to enter into animal studies along these lines as well as into human trials, which could potentially increase its market opportunity by billions of dollars. Nuvilex already has a track record of engaging in canine and human oncology trials with its live-cell encapsulation-based cancer treatments for mammary and pancreatic cancer, respectively. The possibility that the cannabidiol (CBD)-based cancer treatments planned for development by the Company's subsidiary, Medical Marijuana Sciences, Inc., if combined with its live-cell encapsulation-based therapies, can be used for oncology treatments for pets as well as for humans, is clearly exciting.
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About Nuvilex, Inc. (