Shares of Safety Shot have surged following the release of results from a recent study that demonstrated the potential of the company's drink in reducing blood alcohol content. The stock experienced a notable increase of over 13%, reaching $1.44 during afternoon trading. Year-to-date, shares have seen an impressive growth of more than 123%.
Formerly known as Jupiter Wellness, the company rebranded itself last month to center around its flagship product, Safety Shot. The acquisition of GBB Drink Lab in July facilitated this strategic shift.
Safety Shot revealed that the study involved volunteers who were served alcohol for one hour, followed by a 30-minute break without drinking. After this period, volunteers underwent several sobriety tests and were then subjected to a breathalyzer to measure their blood alcohol content.
Subsequently, the volunteers consumed six ounces of Safety Shot and waited another 30 minutes before repeating the sobriety tests. In comparison, the control group was allowed to drink for at least an hour, followed by a five-minute break during which they rinsed their mouths with fresh water twice. The control group then took a breathalyzer test, waited for about 30 minutes, and took a second breathalyzer test.
According to Safety Shot, the participants who consumed their product experienced an average reduction in blood alcohol content of 0.079% per hour, while the control group showed a reduction of only 0.01% per hour.
Safety Shot's Chief Scientific Officer, Glynn Wilson, emphasized that this study was relatively small and lacked close monitoring of the volunteers. As a result, the company has initiated a double-blinded placebo-controlled clinical study to obtain more comprehensive clinical data.