Charlotte's Web Holdings Inc. said Tuesday that it will sponsor ValidCare along with six other CBD brands in conducting a human trial to determine whether daily CBD use has any impact on the liver. ValidCare is a clinical trial outsourcing company. In a statement, the Boulder, Colorado-based company said the study is a response to Food and Drug Administration's public questions about CBD products and how they impact the human liver. "As the market share leader, anchored in science, sponsoring ValidCare's study made strategic sense for us," Chief Executive Deanie Elsner said in a statement. "This research will provide important clinical data to guide our entire industry while also showing the FDA we've heard their requests and are answering their questions with precise data." The FDA is the regulator of CBD because it approved a CBD-based drug, Epidiolex, for use in severe childhood epilepsy, but the agency is keen for full human trials to be conducted to evaluate the safety of the cannabis ingredient. Charlotte's Web said it is one of just seven companies to commit to the trial out of more than 100 that were invited to participate. U.S.-listed shares were not active premarket, but have fallen 10% in the year to date, while the Cannabis ETF has fallen 5% and the S&P 500 is flat.
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