NEW YORK, February 3, 2017 /PRNewswire/ --
The rapid growth of the legal cannabis industry could help spur the U.S. economy. According to a report from The Marijuana Policy Group, the legal cannabis market in Colorado alone created about 18,000 cannabis-related jobs in 2015 and generated about $2.39 billion in economic activity for the state. In 2016, cannabis-related companies employed an estimated 100,000 to 150,000 full- and part-time workers, as was indicated in a report by Marijuana Business Daily. Legalization of cannabis for recreational use in four states in 2016 will further fuel the growth of this market. ChineseInvestors.com, Inc. (OTC: CIIX), GW Pharmaceuticals (NASDAQ: GWPH), Cara Therapeutics Inc. (NASDAQ: CARA), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), Insys Therapeutics Inc. (NASDAQ: INSY)
According to a 2016 cannabis report from the Cowen Group, a New York-based market research firm, annual consumer spending in cannabis is estimated to be $30 billion. California, a state home to 38 million U.S. citizens, legalized recreational cannabis use in November and is expected to boost the legal cannabis market. Vivien Azer, a cannabis analyst with Cowen, claimed that the nation's legal market will grow rapidly over next decade due to consumer spending on recreational and medical cannabis.
ChineseInvestors.com, Inc. (OTCQB: CIIX) this week announced, "the launch of its new website for its new subsidiary ChineseCBDoil.com. The website went live on January 31st under the URL: http://www.ChineseCBDoil.com. The Company is expanding into the medical marijuana industry with the launch of its website and plans to retail hemp oil and related products, which are legal to sell and distribute within China and in the United States in all fifty states (hemp oil is not marijuana, but indeed a separate and distinct plant made from hemp). CBD oil, derived from hemp is a product with medicinal qualities that are primarily used for anti-inflammatory and other common ailments. Its website is intended for the Chinese speaking population, a global market of 2 billion people.
Mr. Warren Wang, the Chairman of ChineseInvestors.com stated: "I am very pleased to see the investor reaction to our announced plans which we began to disclose over a month ago. Indeed the market has responded with very strong interest in our shares, and as a result we have achieved record trading volume and reached a new fifty-two week high in our shares last week.
Our expertise in online communications with our background in media, technology, and journalism, via our http://www.Chinesefn.com website will further enhance our success. Our core business, the online distribution of news to the Chinese speaking population about financial markets and stocks has been a very solid and consistently robust business for our shareholders. Now as we expand into online retailing and distribution of CBD oils to the Chinese speaking population with a focus on hemp and medicinal needs via consumer products. This will create a much needed and growing niche for us to enter. Indeed, we believe we are the first public company to enter this market in China."
Biopharmaceutical company, GW Pharmaceuticals (NASDAQ: GWPH), engages in discovering, developing, and commercializing cannabinoid prescription medicines using botanical extracts derived from the Cannabis plant. It operates through three segments: Commercial, Sativex Research and Development, and Pipeline Research and Development. The company markets Sativex, an oromucosal spray for the treatment of spasticity due to multiple sclerosis. It is also developing Sativex in Phase II trials in neuropathic pain. In addition, the company's product pipeline includes Epidiolex, which is in Phase III clinical development for the treatment of dravet syndrome, lennox-gastaut syndrome, tuberous sclerosis complex, and infantile spasms, as well as other product candidates in Phase I and II clinical development for the treatment of glioma, adult epilepsy, and schizophrenia.
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. Cara is developing lead molecules that selectively modulate peripheral CB receptors without targeting CNS cannabinoid receptors. Peripheral CB receptor modulators will be initially developed as a novel therapeutic approach for neuropathic pain, a condition currently without consistently effective therapies. Cara's most advanced CB compound, CR701, is in preclinical development.
Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) is a clinical-stage pharmaceutical company dedicated to the development of innovative transdermal synthetic cannabinoid treatments for patients with high unmet medical needs. The company is currently developing two proprietary products: a transdermal synthetic cannabidiol gel for refractory epilepsy, osteoarthritis and Fragile X syndrome and a novel synthetic THC pro-drug transdermal patch for two pain indications, fibromyalgia and peripheral neuropathic pain.
Insys Therapeutics Inc. (NASDAQ: INSY) is a specialty pharmaceutical company that develops and commercializes innovative drugs and novel drug delivery systems for therapeutic molecules that improve the quality of patients' lives. Using proprietary sublingual spray technology and capabilities to develop pharmaceutical cannabinoids, the company works to address the clinical shortcomings of existing commercial products. The company currently is in studies of a cannabidiol oral solution on hyperphagia-related behavior for the treatment of subjects with Prader-Willi Syndrome that is not yet open for participation.
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