FinancialBuzz.com: The Growth of Legal Cannabis Products
NEW YORK, March 13, 2017 /PRNewswire/ --
The cannabis market is gaining popularity for both medical and recreational purposes. The global medical cannabis market is expected to reach a value of $55.8 billion by 2025, according to a new report by Grand View Research, Inc. After the elections in 2016, a total of 28 states have legalized cannabis products for medical uses. Voters in Arkansas, Florida, North Dakota, Ohio, and Pennsylvania voted in favor for using cannabis plant products in medical applications such as chemotherapies and pain management. In addition, it is expected that an increasing number of issued licenses will help drive the market even further. ChineseInvestors.com (OTC: CIIX), GW Pharmaceuticals (NASDAQ: GWPH), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), Insys Therapeutics Inc. (NASDAQ: INSY), Cara Therapeutics Inc. (NASDAQ: CARA).
The report indicates that the increasing interest amongst academic researchers regarding the therapeutic uses of cannabis is one of the most significant factors contributing to the growth of the market. This is due to the effectiveness of cannabis in providing relief to patients suffering from HIV/AIDS, glaucoma, cancer, and multiple sclerosis. The data shows that in 2015, for example, chronic pain was the largest application segment owing to the presence of a huge patient base.
ChineseInvestors.com (OTCQB: CIIX) is a premier financial information website for Chinese-speaking investors. On February 13th, the Company provided an update on the Company's financial and business achievements in January 2017. "January represents a significant milestone in CIIX's 18-year history, and we are pleased to update shareholders on key highlights of our progress. This includes sequential revenue growth and our entrance into the hemp-based CBD oil industry," says CIIX Founder and CEO, Warren Wang. "I am grateful for investors who support our ongoing development plans and look forward to a prosperous year ahead."
"The hemp-based CBD oil market has great potential and our management team and employees are very excited to develop this new division of the company," says Wang. "Our longer term plans include opening additional brick-and-mortar retail locations in the U.S. and around the world."
"Our ultimate goal in this arena is to obtain regulatory approval for the use of hemp-based CBD drugs to combat Epilepsy and Alzheimer's disease. The application period for new drugs of this type in China is two to four years, much shorter than US Food and Drug Administration approval timelines. Our goal is to be the first company in China to use hemp-based CBD oil products to help mitigate the suffering of patients with Epilepsy and Alzheimer's disease," concludes Wang. As yet, neither the US Food and Drug Administration nor the Chinese drug regulatory authorities have accepted CBD oils to treat either disease.
GW Pharmaceuticals (NASDAQ: GWPH) is a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. GW is advancing an orphan drug program in the field of childhood epilepsy with a focus on Epidiolex® (cannabidiol), which is in Phase 3 clinical development for the treatment of Dravet syndrome, Lennox-Gastaut syndrome, Tuberous Sclerosis Complex, and Infantile Spasms. GW commercialized the world's first plant-derived cannabinoid prescription drug, Sativex®, which is approved for the treatment of spasticity due to multiple sclerosis in 31 countries outside the United States. The Company has a deep pipeline of additional cannabinoid product candidates which includes compounds in Phase 1 and 2 trials for glioma, schizophrenia and epilepsy.
Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) is a clinical-stage specialty pharmaceutical company focused on developing and commercializing proprietary next-generation synthetic cannabinoid therapeutics formulated for transdermal delivery. In December 2016, the Company initiated the exploratory Phase 2 FAB-C (Treatment of Fragile X Syndrome Anxiety and Behavioral Challenges with cannabinoid) clinical trial in children with Fragile X syndrome. Zynerba is also developing ZYN001, which utilizes a synthetically manufactured pro-drug of THC. A Phase 1 clinical study for ZYN001 is planned to begin in the first half of 2017.
Insys Therapeutics Inc. (NASDAQ: INSY) is a specialty pharmaceutical company that develops and commercializes innovative drugs and novel drug delivery systems of therapeutic molecules that improve the quality of life of patients. Using proprietary sublingual spray technology and capabilities to develop pharmaceutical cannabinoids, Insys is developing a pipeline of products intending to address unmet medical needs and the clinical shortcomings of existing commercial products. Insys currently markets its fentanyl sublingual spray, SUBSYS® but has received approval for the marketing of dronabinol oral solution SYNDROS™, a proprietary, orally administered liquid formulation of dronabinol that Insys believes has distinct advantages over the current formulation of dronabinol in soft gel capsule.
Cara Therapeutics Inc. (NASDAQ: CARA) is a clinical-stage biotechnology company focused on developing and commercializing new chemical entities designed to alleviate pain and pruritus by selectively targeting kappa opioid receptors. The main naturally occurring ligands for anandamide and 2-arachidonoylglycerol (2-AG), activate a number of cannabinoid receptors, including CB1 and CB2 receptors. The company's most advanced compound, CR845, is currently undergoing clinical testing for acute pain, chronic pain and uremic pruritus itch. In multiple randomized, double-blind, placebo-controlled Phase 2 trials in patients undergoing laparoscopic hysterectomy or bunionectomy procedures, I.V. CR845 treatment resulted in statistically significant reductions in both pain intensity and opioid-related side effects.
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