NEW YORK, November 23, 2016 /PRNewswire/ --
www.Financialbuzz.com - California was one of the four states where cannabis for recreational use has voted in favor, and is now legal. California is the largest market for the legal cannabis industry to tackle, as 12 percent of Americans reside in the state. The impact the western state will have on the industry is still unclear, and analysts are presenting different projections, yet all suggest that growth will be there. Vivien Azer, a cannabis analyst from Cowen Group Inc. indicated in a report that sales of recreational and medical marijuana will reach $50 billion by 2026. Canadian Zeolite Corp. (OTC: CNZCF) (CNZ.V), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), Cara Therapeutics Inc. (NASDAQ: CARA), Insys Therapeutics Inc. (NASDAQ: INSY), GW Pharmaceuticals (NASDAQ: GWPH).
Canada is not far behind the United States when it comes to legalization of cannabis. Canada is moving to potentially legalize cannabis in 2017, as the current Liberal Party government will introduce reforms next spring to legalize cannabis for recreational use not just medical.
Canadian Zeolite Corp. (OTCQB: CNZCF) (TSX-V: CNZ) is an environmentally friendly Green Tech business, with a focus on exploration, development and production of the industrial mineral zeolite. The mineral is a naturally occurring mineral found in volcanic ash, and is beneficial to for several industries thanks to its crystalline structure perforated by microscopic pores that act as natural filters. In the agricultural industry, the properties of zeolite are beneficial for use in odor and moisture control in municipal composting, animal feed supplements, zeoponics for greenhouse growing mediums and high-value outdoor zeolitic fertilizers.
This morning Canadian Zeolite Corp. announced that, "it has reached a Supplier Agreement with Natural Ventures, a Puerto Rico based licensed grower and manufacturer of medical marijuana. Canadian Zeolite will now be working with Natural Ventures to enhance their growing production per square foot with zeolitic fertilizers and substrates.
Natural Ventures is located near San Juan, Puerto Rico and has an indoor growing facility of 100,000 square feet. Currently there are over 60,000 registered medical marijuana patients in Puerto Rico and that number is expected to increase significantly in 2017. Natural Ventures CEO, Edgar Montero stated, "we are very excited to be implementing a natural Zeolitic fertilizer for our 2017 crop. With an expected increase in crop yield, we anticipate being able to fully service the increase in demand for our product in Puerto Rico and the other parts of the Caribbean market as they open."
Canadian Zeolite CEO Ray Paquette stated, "we are extremely pleased to be supplying Natural Ventures of Puerto Rico. Plant nutritional needs vary between different species and zeolites are considered as good substrates for developing slow release fertilizers. Canadian Zeolite's natural zeolite is being developed as a value added and highly efficient soil-less substrate for growing a wide variety of plants including medical marijuana."
The first synthetic cannabidiol formulated as a permeation-enhanced gel developed for refractory Epilepsy, Osteoarthritis and Fragile X Syndrome, was created by Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE). The ZYN002 is a synthetic cannabidiol formulated as a permeation-enhanced gel for transdermal delivery. These transdermal therapeutics travel through the skin directly into the systemic circulation, dodging first-pass liver metabolism and thus enabling lower dosage levels of active pharmaceutical ingredients and rapid and reliable absorption with increased bioavailability. During its clinical trials, ZYN002 has proved to show no signs of somnolence or fatigue and has a very low incidence of gastrointestinal events.
Cara Therapeutics Inc. (NASDAQ: CARA) focuses on developing and commercializing new chemical entities intended to ease pain and pruritus by targeting kappa opioid receptors. The company uses a proprietary class of product candidates that target the body's nervous system and have confirmed efficacy in patients with moderate-to-severe pain without encouraging many of the unwanted side effects typically associated with currently available pain therapeutics. Cara's most advanced pipeline product, intravenous, or I.V., CR845, has demonstrated significant pain relief and a favorable safety and tolerability profile in three Phase 2 clinical trials in patients with acute postoperative pain. We are also developing I.V. CR845 in uremic pruritus, and as well as an oral version of CR845, or Oral CR845, for acute and chronic pain.
Researchers at Insys Therapeutics Inc. (NASDAQ: INSY) is currently in study, but not open yet for participant recruitment of a cannabidiol oral solution to act as an adjunctive therapy for treatment of subjects with Lennox-Gastaut Syndrome. According to the Phase 3 trial, they will enroll participants diagnosed with Lennox-Gastaut Syndrome who are still experiencing at least 4 motor seizures involving the trunk or extremities per week, despite ongoing treatment with up to 3 antiepileptic drugs and who meet inclusion/exclusion criteria. Following a 28-day baseline period, subjects will begin an 84-day treatment period. Participants will be assigned to receive twice daily doses of placebo or cannabidiol oral solution at the highest dose determined to be safe in a previous trial.
GW Pharmaceuticals (NASDAQ: GWPH) main focus is on disorders of the central nervous system with epilepsy. GW Pharmaceuticals has a deep pipeline of cannabinoid product candidates which include compounds in development for epilepsy, glioma and schizophrenia. The company owns Epidiolex®, a liquid formulation of pure plant-derived cannabidiol which is in development for the treatment of a number of rare childhood-onset epilepsy disorders. The company also commercialized its very first plant-derived cannabinoid prescription drug, Sativex®, which is approved for the treatment of spasticity.
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