Avecho (ASX:AVE) share price rockets 83% on milestone announcement

The Avecho Biotechnology Ltd (ASX: AVE) share price is beating the All Ordinaries Index (ASX: XAO) by a mile today. This comes as the company announced it has begun participation in Australia’s largest observational study of medicinal cannabis products.

During late morning trade, the Avecho share price reached an all-time high of 3.9 cents. However, investors have been quick to take some profit off the table. At the time of writing, the biotech company’s share is swapping hands for 3.3 cents, still up a sizeable 83.3%. In comparison, the All Ordinaries Index has climbed 0.6% higher to 6,883 points.

What did Avecho announce?

According to its release, Avecho advised that it will commence the testing of its enhanced cannabidiol…