As a result of this election cycle, as five additional states voted in favor legalization, including California, the largest market for the industry, The Drug Enforcement Administration also changed its approach. The DEA has previously declined to reschedule cannabis under the Controlled Substances Act, has now made easier access for research, and upping the number of authorized manufacturers that supply the substance to researchers. As for the industry's presence, a recent report published on cannabis licenses conducted by research firm Cannabiz Media, the cannabis industry is entering 2017 with 2,966 medical dispensaries and 3,973 retailers across the country, with more than 4,200 cannabis cultivators.
ChineseInvestors.com, Inc. (OTCQB: CIIX) is a financial information website for Chinese-speaking investors in both the U.S. and China. Announced today that, "it will launch the world's first Cannabidiol (CBD) health products online store in the Chinese Language by the end of January 2017 under the domain name http://www.ChineseCBDoil.com.
CIIX entered into a wholesale agreement with a well-known CBD health brand last month that enables CIIX to retail nutritional supplements containing CBD to the Asian market through both online and in-store sales. ChineseCBDoil.com will provide a variety of CBD products, including soft gels, capsules and concentrates, for Chinese-speaking customers worldwide.
Warren Wang, founder and CEO of CIIX, commented: "The Chinese nutrition and health products market has already generated more than 1 trillion Yuan in consumer sales. As Chinese people pay more attention to their health conditions, this market is expected to continue its rapid growth. Currently, the benefits of CBD oil have not been widely recognized in mainland China. CBD products are effective in reducing anxiety, stress and poor sleep, and can be used to prevent Alzheimer's disease, which is prevalent among elderly people. CIIX has made a development plan for the next three years, and the critical first step is to set up our CBD health products online store given the upward trend of the aging population in China."
Mr. Wang further remarked: "According to The CBD Report published by The Hemp Business Journal, Cannabidiol is one of the fastest growing market categories in the U.S. hemp and legal marijuana industries. In 2015, the CBD industry grew from a nearly invisible market a few years ago to $202 million in consumer sales, and it is further expected to grow to $2.1 billion in consumer sales by 2020. We are very excited that CIIX is launching the world's first CBD online store focused on providing CBD health products for Chinese-speaking customers and making it possible for them to order various types of CBD products through http://www.chinesecbdoil.com."
Clinical-stage specialty pharmaceutical company dedicated to the development of innovative transdermal synthetic cannabinoid treatments, Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) announces the start of the Treatment of Fragile X Syndrome Anxiety and Behavioral Challenges with CBD exploratory Phase 2 clinical trial of ZYN002 cannabidiol gel in patients with Fragile X syndrome (FXS). ZYN002 CBD gel is the first and only patent-protected, synthetic CBD that is formulated as a permeation-enhanced gel for transdermal delivery. FXS is an autism spectrum disorder and the most common inherited intellectual disability in males and a significant cause of intellectual disability in females. "Fragile X syndrome is devastating to patients and their caregivers and we are very hopeful that ZYN002 CBD gel can provide relief for this underserved patient group," said Armando Anido, Chairman and Chief Executive Officer of Zynerba. "We anticipate having top line results for the FAB-C trial late in the first half of 2017. With an orphan drug designation granted by the Food and Drug Administration for Fragile X syndrome, we look forward to working with the FDA to bring a treatment to patients as fast as possible."
GW Pharmaceuticals (NASDAQ: GWPH), a biopharmaceutical company, engages in discovering, developing, and commercializing cannabinoid prescription medicines using botanical extracts derived from the Cannabis plant. Recently, the company announced additional positive Epidiolex® (CBD) Phase 3 data in poster presentations during the 70th Annual Meeting of the American Epilepsy Society. "We are pleased to present key findings from two pivotal Phase 3 studies of Epidiolex and believe these additional positive data reinforce the robust nature of the results achieved in two of the most difficult-to-treat epilepsy patient populations," stated Justin Gover, GW's Chief Executive Officer. "We are making very good progress toward a NDA submission to the FDA as well as preparations for commercial launch and look forward to the opportunity to make this important new medicine available to patients as quickly as possible."
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 company's most advanced product candidate, 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. The company completes planned enrollment of 8-week multi-dose phase of adaptive trial of I.V. CR845 in Uremic Pruritus. Uremic Pruritus is caused by chronic kidney failure and is the most common internal systemic cause of itching.
Insys Therapeutics Inc. (NASDAQ: INSY) is a specialty pharmaceutical company that develops and commercializes supportive care products. The company markets a sublingual fentanyl spray for breakthrough cancer pain in opioid-tolerant cancer patients in the US, known as Subsys. Insys's leading product candidate is Syndros, an orally administered liquid formulation of dronabinol. The company is also developing Cannabidiol Oral Solution, a synthetic cannabidiol for childhood catastrophic epilepsy syndromes and other product candidates, including other dronabinol line extensions and sublingual spray product candidates.
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