Aurora Cannabis Inc. shares rose Tuesday, after the Canadian company said it has entered a multiyear, multimillion-dollar agreement with mixed martial arts organization UFC to research the effect of hemp-derived CBD products on athlete recovery and wellness.
The companies have agreed to conduct the research at UFC’s Las Vegas institute, setting up clinical studies to evaluate CBD, a nonintoxicating ingredient in cannabis and hemp, as a treatment for pain management, inflammation, injury/exercise recovery and mental well being. Aurora shares ACB, -0.64% ACB, -0.43% rose 3%.
CBD is widely held to have benefits for all of those indications, although there is not a great deal of research to back up the claims, as MarketWatch’s Sarah Toy reported last week. The substance is also caught in regulatory limbo ever since