O-2694 is a drug that is a cannabinoid derivative. It has analgesic effects and is used in scientific research. Unlike most cannabinoids discovered to date, it is highly water-soluble, which gives it considerable advantages over many related drugs. It has high affinity for both CB<sub>1</sub> and CB<sub>2</sub> receptors, with K<sub>i</sub> values of 3.7 nM at CB<sub>1</sub> and 2.8 nM at CB<sub>2</sub>. However, it has complex pharmacokinetics as most of the administered dose is metabolised by hydrolysis of the ester link to the water-insoluble compound O-2372, thus producing a biphasic effects profile that is less suitable for research purposes than the related compound O-2545.