NEW YORK, December 18, 2017 /PRNewswire/ --
According to a report by Forbes, Brightfield Group, a cannabis market research firm, the international market for cannabis is expected to be valued $31.4 billion by 2021. Bethany Gomez, Director of Research for Brightfield Group, suggested that the U.S. market is meaningfully larger than the rest of the international markets combined. Currently, the global market is estimated to be worth $7.7 billion. The U.S. currently drives 90 percent of global cannabis sales, but its share will drop to 57 percent by 2021. Countries in Latin American and Europe are also adding medical cannabis programs, as regulations continue to relax. AmeriCann Inc. (OTC: ACAN), Zynerba Pharmaceuticals (NASDAQ: ZYNE), Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP), GW Pharmaceuticals plc (NASDAQ: GWPH), Cara Therapeutics Inc. (NASDAQ: CARA)
Growth of the medical cannabis market is expected to quicken as the products become more popular for treatments of various medical applications such as chronic pain, post-traumatic stress disorder (PTSD), sleep disorders, anxiety, nerve pain and others. Giadha Aguirre De Carcer, CEO and Founder of New Frontier Data, explained, "The United States constitutes 35% of the global pharmaceutical market, the largest market in the world, and a major driver of the U.S. economy. It is one of many industries that will be impacted by the growth of the legal cannabis market and we are already starting to see that trend in legal medical states where use of key prescription drugs is down by 11%. If cannabis were to be adopted nationally, we would begin to see a trend of patients turning to medical cannabis as a substitute or complement to pharmaceuticals."
AmeriCann Inc. (OTCQX: ACAN) on September 21st the company announced that Coastal Compassion, Inc. ("CCI"), its Preferred Partner in Massachusetts, received a Final Certificate of Registration from the Department of Public Health.
CCI is one of a limited number of vertically integrated companies approved to cultivate, process and eventually dispense medical cannabis in the Massachusetts Medical-Use of Marijuana program. The team members of CCI include a respected medical doctor, patient advocates, cannabis cultivators, security experts and retail operators. The CCI team placed in the top 5% of all applicants for scoring in the first round of competitive application process in 2013.
With the Final Certificate of Registration, CCI has all the approvals to commence cultivation in its fully-constructed Registered Marijuana Dispensary (RMD) located in Fairhaven, MA. The Fairhaven RMD will house CCI's initial cultivation and processing operations and a permanent retail dispensary location. Upon completion of the first building at AmeriCann's Massachusetts Medical Cannabis Center ("MMCC") in Freetown, MA, CCI will relocate the cultivation and processing activities to the MMCC and maintain its retail dispensary in Fairhaven.
AmeriCann has agreements with Coastal Compassion to lease 100% of the first phase of MMCC which will consist of a 30,000 square foot greenhouse, laboratory and research center. Earlier this month AmeriCann announced that it has secured an equity investment commitment of $10,000,000 for the development of the MMCC. The MMCC project is approved for 1 million square feet, which will be developed in phases and is expected to be one of the most technologically advanced cultivation facilities in the nation.
As part of the Preferred Partnership, over the last 18 months, AmeriCann has been working with CCI on the design of the Fairhaven RMD and the development of the infused products including the Solanna line of products. On September 18th, the Board of Selectmen in Freetown, MA provided a letter of support to Coastal Compassion, Inc. The letter of support paves the way for Coastal Compassion to move into the MMCC project upon completion by AmeriCann."
AmeriCann's CFO, Benjamin Barton, stated, "Coastal Compassion has been an exemplary Preferred Partner for AmeriCann. As it prepares to serve patients in the next few several weeks, it will be a premier provider of the best quality medicine with a strong commitment to patients."
Zynerba Pharmaceuticals (NASDAQ: ZYNE) is dedicated to improving the lives of people with severe health conditions where there is a high unmet medical need by developing and commercializing pharmaceutically-produced transdermal cannabinoid medicines designed to meet the rigorous efficacy and safety standards established by global regulatory agencies. On December 3, 2017, the company reported new clinical data presented at the 2017 Annual Meeting of the American Epilepsy Society (AES) in Washington, DC. The key findings include that clinically meaningful responses to ZYN002, as measured by reductions in focal seizures from the baseline period of STAR 1, are correlated with continued treatment with ZYN002. Zynerba's ZYN002 CBD gel is the first and only pharmaceutically-produced CBD formulated as a patent-protected permeation-enhanced gel and is being studied in children with Fragile X Syndrome, adult epilepsy patients with focal seizures and osteoarthritis. ZYN002 is a clear, permeation-enhanced gel that is designed to provide controlled drug delivery transdermally with once- or twice-daily dosing.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) is a Phase 3 clinical stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company's lead product candidate, anabasum, is a novel synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. Recently, the company announced that it has initiated the Company's Phase 3 study to test the efficacy and safety of anabasum in the treatment of diffuse cutaneous systemic sclerosis. Systemic sclerosis is a serious autoimmune disease affecting approximately 90,000 people in the United States and Europe and is associated with significant morbidity and up to 60% 10-year mortality.
GW Pharmaceuticals plc (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. Recently, the company announced the termination of its previous license agreement with Otsuka Pharmaceutical Co., Ltd. in relation to Sativex® (nabiximols) in the U.S. As a result, GW has now reacquired full ownership of the development and commercialization rights to the product in the U.S. market without making any upfront payment to Otsuka. GW has agreed to make contingent milestone payments to Otsuka, the first of which would become due upon FDA approval of Sativex and thereafter additional payments would become due upon the achievement of certain annual sales thresholds of Sativex in the United States. Sativex is an oromucosal spray of a formulated extract that contains the principal cannabinoids cannabidiol (CBD) and delta-9-tetrahydrocannabinol (THC) in a 1:1 ratio.
Cara Therapeutics Inc. (NASDAQ: CARA) is a clinical-stage biopharmaceutical company focused on developing and commercializing new chemical entities designed to alleviate pain and pruritus by selectively targeting peripheral kappa opioid receptors. Cara is developing lead molecules that selectively modulate peripheral CB receptors without targeting CNS cannabinoid receptors. Cara's most advanced CB compound, CR701, is in preclinical development. Dr. Joseph Stauffer CMO Cara Therapeutics: "Cannabinoid Receptor Agonists like CR701 have the potential to provide improved pain relief for patients suffering from neuropathic pain."
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Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has been compensated four thousand dollars for financial news dissemination and PR services by axiom group for americann inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news dissemination and PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com.
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According to a report by Forbes, Brightfield Group, a cannabis market research firm, the international market for cannabis is expected to be valued $31.4 billion by 2021. Bethany Gomez, Director of Research for Brightfield Group, suggested that the U.S. market is meaningfully larger than the rest of the international markets combined. Currently, the global market is estimated to be worth $7.7 billion. The U.S. currently drives 90 percent of global cannabis sales, but its share will drop to 57 percent by 2021. Countries in Latin American and Europe are also adding medical cannabis programs, as regulations continue to relax. AmeriCann Inc. (OTC: ACAN), Zynerba Pharmaceuticals (NASDAQ: ZYNE), Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP), GW Pharmaceuticals plc (NASDAQ: GWPH), Cara Therapeutics Inc. (NASDAQ: CARA)
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Growth of the medical cannabis market is expected to quicken as the products become more popular for treatments of various medical applications such as chronic pain, post-traumatic stress disorder (PTSD), sleep disorders, anxiety, nerve pain and others. Giadha Aguirre De Carcer, CEO and Founder of New Frontier Data, explained, "The United States constitutes 35% of the global pharmaceutical market, the largest market in the world, and a major driver of the U.S. economy. It is one of many industries that will be impacted by the growth of the legal cannabis market and we are already starting to see that trend in legal medical states where use of key prescription drugs is down by 11%. If cannabis were to be adopted nationally, we would begin to see a trend of patients turning to medical cannabis as a substitute or complement to pharmaceuticals."
AmeriCann Inc. (OTCQX: ACAN) on September 21st the company announced that Coastal Compassion, Inc. ("CCI"), its Preferred Partner in Massachusetts, received a Final Certificate of Registration from the Department of Public Health.
CCI is one of a limited number of vertically integrated companies approved to cultivate, process and eventually dispense medical cannabis in the Massachusetts Medical-Use of Marijuana program. The team members of CCI include a respected medical doctor, patient advocates, cannabis cultivators, security experts and retail operators. The CCI team placed in the top 5% of all applicants for scoring in the first round of competitive application process in 2013.
With the Final Certificate of Registration, CCI has all the approvals to commence cultivation in its fully-constructed Registered Marijuana Dispensary (RMD) located in Fairhaven, MA. The Fairhaven RMD will house CCI's initial cultivation and processing operations and a permanent retail dispensary location. Upon completion of the first building at AmeriCann's Massachusetts Medical Cannabis Center ("MMCC") in Freetown, MA, CCI will relocate the cultivation and processing activities to the MMCC and maintain its retail dispensary in Fairhaven.
AmeriCann has agreements with Coastal Compassion to lease 100% of the first phase of MMCC which will consist of a 30,000 square foot greenhouse, laboratory and research center. Earlier this month AmeriCann announced that it has secured an equity investment commitment of $10,000,000 for the development of the MMCC. The MMCC project is approved for 1 million square feet, which will be developed in phases and is expected to be one of the most technologically advanced cultivation facilities in the nation.
As part of the Preferred Partnership, over the last 18 months, AmeriCann has been working with CCI on the design of the Fairhaven RMD and the development of the infused products including the Solanna line of products. On September 18th, the Board of Selectmen in Freetown, MA provided a letter of support to Coastal Compassion, Inc. The letter of support paves the way for Coastal Compassion to move into the MMCC project upon completion by AmeriCann."
AmeriCann's CFO, Benjamin Barton, stated, "Coastal Compassion has been an exemplary Preferred Partner for AmeriCann. As it prepares to serve patients in the next few several weeks, it will be a premier provider of the best quality medicine with a strong commitment to patients."
Zynerba Pharmaceuticals (NASDAQ: ZYNE) is dedicated to improving the lives of people with severe health conditions where there is a high unmet medical need by developing and commercializing pharmaceutically-produced transdermal cannabinoid medicines designed to meet the rigorous efficacy and safety standards established by global regulatory agencies. On December 3, 2017, the company reported new clinical data presented at the 2017 Annual Meeting of the American Epilepsy Society (AES) in Washington, DC. The key findings include that clinically meaningful responses to ZYN002, as measured by reductions in focal seizures from the baseline period of STAR 1, are correlated with continued treatment with ZYN002. Zynerba's ZYN002 CBD gel is the first and only pharmaceutically-produced CBD formulated as a patent-protected permeation-enhanced gel and is being studied in children with Fragile X Syndrome, adult epilepsy patients with focal seizures and osteoarthritis. ZYN002 is a clear, permeation-enhanced gel that is designed to provide controlled drug delivery transdermally with once- or twice-daily dosing.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) is a Phase 3 clinical stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company's lead product candidate, anabasum, is a novel synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. Recently, the company announced that it has initiated the Company's Phase 3 study to test the efficacy and safety of anabasum in the treatment of diffuse cutaneous systemic sclerosis. Systemic sclerosis is a serious autoimmune disease affecting approximately 90,000 people in the United States and Europe and is associated with significant morbidity and up to 60% 10-year mortality.
GW Pharmaceuticals plc (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. Recently, the company announced the termination of its previous license agreement with Otsuka Pharmaceutical Co., Ltd. in relation to Sativex® (nabiximols) in the U.S. As a result, GW has now reacquired full ownership of the development and commercialization rights to the product in the U.S. market without making any upfront payment to Otsuka. GW has agreed to make contingent milestone payments to Otsuka, the first of which would become due upon FDA approval of Sativex and thereafter additional payments would become due upon the achievement of certain annual sales thresholds of Sativex in the United States. Sativex is an oromucosal spray of a formulated extract that contains the principal cannabinoids cannabidiol (CBD) and delta-9-tetrahydrocannabinol (THC) in a 1:1 ratio.
Cara Therapeutics Inc. (NASDAQ: CARA) is a clinical-stage biopharmaceutical company focused on developing and commercializing new chemical entities designed to alleviate pain and pruritus by selectively targeting peripheral kappa opioid receptors. Cara is developing lead molecules that selectively modulate peripheral CB receptors without targeting CNS cannabinoid receptors. Cara's most advanced CB compound, CR701, is in preclinical development. Dr. Joseph Stauffer CMO Cara Therapeutics: "Cannabinoid Receptor Agonists like CR701 have the potential to provide improved pain relief for patients suffering from neuropathic pain."
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Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has been compensated four thousand dollars for financial news dissemination and PR services by axiom group for americann inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news dissemination and PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com.
For further information: [email protected] +1-877-601-1879
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SOURCE FinancialBuzz.com
