NEW YORK, November 11, 2016 /PRNewswire/ --
http://www.Financialbuzz.com - In California, Massachusetts, Nevada and Maine, voters decided that recreational cannabis use is now legal. Now as for Arizona, it was the only state that rejected the proposal. Making it four of the five states, where the proposal of legalization of cannabis for recreational use were approved. Companies in this sector profiting from the growing demand, views this as a highly positive development for the legal cannabis industry, as it may bring billions of dollars to the industry and to the states themselves. Canadian Zeolite Corp. (OTC: CNZCF), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), Insys Therapeutics Inc. (NASDAQ: INSY), GW Pharmaceuticals PLC- ADR (NASDAQ: GWPH), Cara Therapeutics Inc. (NASDAQ: CARA).
The District of Columbia, along with other 8 states now recognizes recreational marijuana use as a legal practice for adults. Arkansas, Florida, Montana and North Dakota passed ballot measures legalizing medical marijuana use only. California is of course the most populated state and the largest market for cannabis. California Lt. Gov. and former San Francisco Mayor Gavin Newsom, said the proposition could generate up to $1 billion a year in tax revenue, as well as $100 million in saved taxpayer money on an annual basis.
Canadian Zeolite Corp. (OTCQB: CNZCF) is an exploration, development and production of the industrial mineral zeolite. The company explains the value of Zeolite, which is a naturally occurring mineral found in volcanic ash, and is unique notable in its crystalline structure perforated by microscopic pores. These pores allow zeolites to act as natural filters. As a result, Zeolites (microporous) are used across several industries for a variety of purposes, including water purification and radioactive waste containment. This is an environmentally friendly Green Tech business which well suited to today's economic environment.
Recently Canadian Zeolite Corp. announced that it will begin shipping the natural zeolite mineral to several medical marijuana growers in Canada and the United States. Currently, the company is developing zeoponics and zeoponic substrates specifically designed for growing of medical marijuana. The mineral allows the plant to absorb the nutrients and improve the plant quality. The mineral also helps to produce higher amounts in shorter period of time.
CEO of Canadian Zeolite Corp, Ray Paquette, explained in a press release "with the explosive growth of the medical marijuana industry, Canadian Zeolite is well-positioned to become a leading supplier of natural zeolite to this expanding market as well as becoming an innovator of new products to compliment the growing process."
Pharmaceutical company dedicated to the development of innovative transdermal synthetic cannabinoid treatments, Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) announced the enrollment of the first patients into the Synthetic Transdermal Cannabidiol for the Treatment of Epilepsy (STAR 2) clinical trial, an open-label extension trial only allowing patients who have completed the STAR 1 clinical trial to receive treatment with ZYN002 CBD gel for up to a year. "STAR 2 is designed to provide additional tolerability and safety information for ZYN002 CBD gel for up to 52 weeks, which we believe will establish that ZYN002 CBD gel is well-tolerated over long-term use," said Armando Anido, CEO of Zynerba. "Enrollment in STAR 1 is continuing and we plan to report top line results in the first half of 2017."
Currently, Insys Therapeutics Inc. (NASDAQ: INSY) is recruiting participants for the condition of drug addiction by using Cannabidiol, in order to find responses to emotional stimuli. According to its preclinical and clinical studies, it indicates that CBD may act to reduce anxiety without excessive sedative side-effects. Researchers hypothesize that CBD may reduce responses specifically to negative emotional and social stimuli, including pictures and emotional faces, without altering responses to positive stimuli. They will measure subjective and subtle physical responses to positive and negative stimuli using measures that have been characterized with classic anxiety-reducing drugs and drugs of abuse. Further, researchers will examine whether CBD-induced changes in these measures of emotional response relate to changes in actual behavior in a controlled social interaction. These results will allow them to study the potential usefulness of CBD as an anxiety-reducing drug, and suggest mechanisms by which CBD may reduce anxiety.
GW Pharmaceuticals PLC- ADR (NASDAQ: GWPH) is the global leader in developing cannabinoid-based medicines. Epidiolex®, the company's main product, is in development to treat rare and catastrophic forms of childhood-onset epilepsy, potentially offering relief to patients for conditions that formerly had few treatment options. Epidiolex is a proprietary oral solution of pure plant-derived cannabidiol, or CBD. Its development is initially concentrating on severe, orphan, early-onset, treatment-resistant epilepsy syndromes including Dravet syndrome, Lennox-Gastaut syndrome, Tuberous Sclerosis Complex and Infantile Spasms.
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 is developing a novel and proprietary class of product candidates that target the body's peripheral nervous system and have demonstrated efficacy in patients with moderate-to-severe pain without inducing many of the undesirable side effects typically associated with currently available pain therapeutics. Its 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.
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