NEW YORK, July 14, 2017 /PRNewswire/ --
According to a research reportby New Frontier Data, medical cannabis sales are forecast to grow to $5.3 billion in 2017 and accounting for 67% of total cannabis sales. By 2025, medical sales in currently legal states are forecast to grow to $13.2
"Cannabis stocks significantly outperformed major indexes in 2016, fueled by speculative investment based on anticipated expansion of new legal markets. In the run up to the election, stocks increased by 207.8% and continued to rise, even with an uncertain future under the new administration. While recent comments by the Trump administration did have an initial dampening effect on the market, we have seen continued growth relative to Q4 2016 whereby cannabis stocks are still outperforming other sectors," said Giadha Aguirre De Carcer, CEO of New Frontier Data.
Invictus MD Strategies Corp. (OTC: IVITF) is also listed on the TSX Venture Exchange under the ticker symbol IMH. Earlier today, the company announced that its licensed production facility under the Access to Cannabis for Medical Purposes Regulations ('ACMPR'), Acreage Pharms Ltd. ('Acreage Pharms') located near Edson, Alberta, utilizing a multi-room indoor perpetual growing methodology, will begin its first harvest in the first week of August, with the second harvest occurring the following week. The company anticipates a harvest to take place approximately monthly going forward.
Invictus MD is further pleased to announce that Acreage Pharms has received its development permit for Phase 2 and has broken ground initiating construction on its 27,800 square foot purpose built, multiple-room production facility. All contractors and suppliers necessary for the project have been scheduled. Invictus MD has committed to investing $6.0 million, which will be used to fund the costs of constructing the production facility.
"Following our successful harvest at the AB Laboratories production facility as announced earlier, and by securing the development permit for our Alberta production facility, with $30 million cash available and the majority earmarked for building production capacity, Invictus MD is prepared for an exciting year of growth," said Dan Kriznic, Executive Chairman and CEO, Invictus MD. "Led by one of the industry's most experienced teams, we are strongly focused on building our shareholder value. With 250 acres of cultivation space that stretches from Alberta to Ontario, allowing for purpose built production facilities rather than retrofitting existing buildings, our large land package allows for building cultivation facilities as demand increases and we will continue the disciplined but agile execution of our business strategy, and further establishing our leadership position as Canada's cannabis company," added Kriznic.
Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE) is a clinical-stage specialty pharmaceutical company dedicated to developing and commercializing innovative transdermal synthetic cannabinoid treatments. On June 26th, the company announced that it has initiated its ZYN001 Phase 1 clinical program to study the company's patent-protected, pro-drug of tetrahydrocannabinol delivered via a transdermal patch. This study will assess single and multiple rising doses of several formulations of ZYN001 to identify the optimal dose to take into Phase 2 studies.
GW Pharmaceuticals plc. (NASDAQ: GWPH) is a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, along with its U.S. subsidiary, Greenwich Biosciences, announced on May 24th that The New England Journal of Medicine has published results from a Phase 3 study of Epidiolex in children with Dravet syndrome. Epidiolex, GW's lead product candidate and the potential first in a new category of anti-epileptic drugs, is a liquid formulation of purified, plant-derived Cannabidiol, a non-psychoactive cannabinoid, which is being studied for the treatment of a number of rare, severe pediatric-onset epilepsy disorders. In the study, Epidiolex significantly reduced monthly convulsive seizure frequency compared to placebo in highly treatment-resistant children when added to existing treatment. Treatment with Epidiolex was generally well tolerated, with a safety profile consistent with prior open label experience.
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. CR701 has been evaluated in a rodent model of neuropathic pain that produces both hyperalgesia (sensitization of nerve endings to painful stimuli) and allodynia (painful perception of innocuous stimuli) comparable to human conditions. Dr. Joseph Stauff, CMO of Cara Therapeutics, said, "Cannabinoid Receptor Agonists like CR701 have the potential to provide improved pain relief for patients suffering from neuropathic pain."
Insys Therapeutics Inc. (NASDAQ: INSY) is developing a pipeline of products intending to address unmet medical needs and the clinical shortcomings of existing commercial products. On May 24, 2017, the company announced that the U.S. Food and Drug Administration ("FDA") has approved the final product label for Syndros™ (dronabinol) oral solution, CII, a liquid formulation of the pharmaceutical cannabinoid, dronabinol. Syndros is approved for use in treating anorexia associated with weight loss in patients with Acquired Immune Deficiency Syndrome ('AIDS') and nausea and vomiting associated with cancer chemotherapy in patients who have failed to respond adequately to conventional antiemetic treatments.
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