NEW YORK, January 11, 2017 /PRNewswire/ --
http://www.Financialbuzz.com - The future of the legal cannabis market depends on a variety of factors. Politically, some have expressed concerns regarding the incoming elected administration, others feel more optimistic after nine states have voted this election cycle. The results overwhelmingly came in favor of legalization of cannabis for medical and recreational use. Economically, the industry has shown tremendous growth year to year. According to a research published on January 3rd 2017 by ArcView Group, the legal cannabis sales in the U.S. last year reached $6.7 billion, a growth of 30 percent from 2015. Sales are projected to increase to $20.2 billion by the year 2021 representing a 25 percent compound annual growth rate. MassRoots, Inc. (OTC: MSRT), Cara Therapeutics Inc. (NASDAQ: CARA), Insys Therapeutics Inc. (NASDAQ: INSY), GW Pharmaceuticals (NASDAQ: GWPH), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE)
In an interview to Forbes, Arcview's editor-in-chief Tom Adams said that, "the only consumer industry categories I've seen reach $5 billion in annual spending and then post anything like 25% compound annual growth in the next five years are cable television (19%) in the 1990's and the broadband internet (29%) in the 2000's." ArcView Chief Executive Officer Troy Dayton added, "One of the biggest stories was the alternative forms of ingestion… Concentrates and edibles are becoming customer favorites versus traditional smoking."
MassRoots, Inc. (OTCQB: MSRT) offers technology platforms for the cannabis industry. The Company's mobile applications enable consumers to provide community-driven reviews of cannabis strains and products, enabling consumers to make cannabis purchasing decisions. Yesterday the company announced that the company has launched an update to iOS mobile application, available through the Apple App Store.
In a press release MassRoots described the new features, "Geo-targeted native advertisements in MassRoots' local, buds and global feeds, enabling businesses to target advertisements to cannabis consumers in their local area. In depth strain and product pages with high quality photos and descriptions, enabling users to learn about their favorite strains and products and see what fellow enthusiasts have to say about them. Revamped reporting and content screening mechanisms, in addition to an enhanced geo-fence, to ensure MassRoots remains in compliance with state cannabis regulations and the Cole Memorandum."
MassRoots CEO Isaac Dietrich said in a statement, "Management believes that this update offers cannabis consumers the easiest way to find the best products at their local dispensary… The Company prides itself on our ability to leverage new technology in order to better serve the regulated cannabis industry. We look forward to continuing to introduce new features to our mobile applications to increase user engagement and drive revenue growth."
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 Therapeutics Inc. (NASDAQ: CARA), has recently announced that it has completed patient enrollment for the multi-dose phase of its adaptive Phase 2/3 trial of I.V. CR845 in dialysis patients suffering from moderate-to-severe uremic pruritus. "We're very pleased to have completed enrollment as planned for Part A of the Phase 2/3 trial in pruritus associated with chronic kidney disease, as these eight-week data will determine the optimal dosing to carry forward into planned registration trials. In our previous Phase 2 trial, I.V. CR845 significantly reduced itch and improved the quality of life for dialysis patients with this condition over a two-week treatment period," said Derek Chalmers, Ph.D., D.Sc., President and Chief Executive Officer of Cara Therapeutics. "We look forward to reporting top-line data from Part A of this trial in the first quarter of 2017 and, based on the results, initiating the planned registration phase later in the year."
Insys Therapeutics Inc. (NASDAQ: INSY) is a commercial-stage specialty pharmaceutical company. The Company develops and commercializes supportive care products. The company markets Subsys, a sublingual fentanyl spray for breakthrough cancer pain in opioid-tolerant cancer patients in the US. Its lead 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.
GW Pharmaceuticals (NASDAQ: GWPH) is involved in the development of cannabinoid prescription medicines using botanical extracts derived from the Cannabis Sativa plant. Epidiolex is GW's lead cannabinoid product candidate and is a proprietary oral solution of pure plant-derived cannabidiol, or CBD. GW's Epidiolex 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. The company's current Phase 3 pivotal trials program for Epidiolex includes two Phase 3 trials in Dravet syndrome, two in LGS, one in TSC, and one in IS. The first two of these Phase 3 trials, one in Dravet syndrome and one in LGS, have showed significantly greater reductions in specific seizure types for patients taking Epidiolex compared to those taking placebo.
Clinical-stage pharmaceutical company dedicated to the development of innovative transdermal synthetic cannabinoid treatments for patients with high unmet medical needs, Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) is currently in development of 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.
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