- 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.