Nearly 60 Million Americans Suffer From Insomnia - Enter OTCMKTS: BKIT

Blake Insomnia Therapeutics Inc. (OTCMKTS: BKIT) is a New York-based pharmaceutical company devoted to improving nighttime and daytime quality of life for people with insomnia. The company has a patent-pending compound (“Zleepax” or ZLX-1) that has demonstrated efficacy without causing side effects which has been identified as the No. 1 problem with current sleep medications.

Blake Insomnia

As we speak, the current king of the insomnia treatment market is clear: Ambien, raking in as much as $2 Billion per year in sales. In the US, right now, millions of people are struggling to get to sleep, or are tired because they didn’t get a good night’s sleep last night. Millions more are suffering from what’s called residual daytime sedation (RSD), a symptom of sleeping pills that results in what is colloquially referred to as “zombification” – an overhang of the active ingredient in the pills that individual took to help them get to sleep the night before. For the former group, those who are struggling to sleep unaided, the only real option is to take prescription sleeping pills. Of course, this results in them then falling into the second category, and having to endure RSD the day after dosing.

Instead of a hypnotic, Blake Insomnia Therapeutics is using a beta blocker as the core, active ingredient. To some, this might sound a little odd. Beta blockers are known the world over for having a primary side effect of sleep impediment. They inhibit the production of melatonin, the hormone that regulates sleep and wakefulness in plants and animals, and in doing so, stop a patient taking them from enjoying a regular sleep cycle. In turn, they also create the residual daytime sedation that makes the current standard of care treatments so dissatisfactory. That is true, with the majority of beta blockers. There’s a new generation of beta blockers, however, that is gaining traction among cardiovascular patients, and has been for the last five years. This generation (generally referred to as the third generation in the pharmaceutical space) doesn’t inhibit the production of melatonin, and in turn, has no impact on sleep.

The Company is preparing to launch a fundraising drive to complete Phase II clinical testing of its patent-pending ZLX-1 compound for treating stress-related insomnia. The company has compiled a shortlist of appropriate investors to approach for funding.

Since the ZLX-1 patent application covers multiple active ingredient combinations, Phase II clinical testing will determine which combination and dosage will deliver the most potent effect. Completing Phase II clinical testing will require approximately $5 million. After successful completion of Phase II, the company will seek an additional $10 million for Phase Phase III testing, the final step required to receive FDA approval. Phase III trials involve widespread testing of the compound for potential side effects.

Blake Insomnia Therapeutics CEO Birger Jan Olsen says: “We are proceeding according to plan and we are now ready to meet with potential financial partners to fund Phase II clinical testing. We remain optimistic that we will be able to complete the clinical phase quickly, so we can bring this promising therapy to market.”

Symbol: BKIT
Company: Blake Insomnia Therapeutics Inc.
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