NEW YORK, August 25, 2017 /PRNewswire/ --
According to a recent report by New Frontier Data, the Viridian Cannabis Stock Index gained 236.1% in 2016 and outperforming such mainstream indexes as the Russell 2000 (up 19.5%), the Dow Jones Industrial Average (up 13.4%), the S&P 500 (up 9.5%), and the Nasdaq composite (up 7.5%). By examining the underlying sectors in the cannabis markets, these results reveal particularly strong growth throughout 2016 in both businesses that touch the plant and in ancillary businesses. New Frontier Data also reported that in 2017, medical cannabis sales are forecast to grow to $5.3 billion or accounting for 67% of total cannabis sales. By 2025, medical sales in currently legal states are forecast to grow to $13.2 billion, and at which point medical sales will account for 55% of all sales. Comparatively, sales of products from recreational use in 2017, are forecast to reach $2.6 billion or rising to $10.9 billion by 2025. MassRoots, Inc. (OTC: MSRT), Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP), Insys Therapeutics, Inc. (NASDAQ: INSY), Zynerba Pharmaceuticals (NASDAQ: ZYNE), Cara Therapeutics Inc. (NASDAQ: CARA).
"Cannabis stocks significantly outperformed major indexes in 2016, fueled by speculative investment based on anticipated expansion of new legal markets. In the run up to the election, stocks increased by 207.8% and continued to rise, even with an uncertain future under the new administration. While recent comments by the Trump administration did have an initial dampening effect on the market, we have seen continued growth relative to Q4 2016 whereby cannabis stocks are still outperforming other sectors," said Giadha Aguirre De Carcer, CEO of New Frontier Data.
MassRoots, Inc. (OTCQB: MSRT) yesterday announced, "The acquisition of CannaRegs, Inc. ("CannaRegs"), a leading technology platform that tracks changes in cannabis regulations and taxation at the municipal, state, and federal levels. MassRoots, Inc. has entered into a definitive agreement to acquire CannaRegs in a stock deal valued at approximately $12 million. The closing of the acquisition is subject to closing conditions as fully detailed in MassRoots' Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on August 23, 2017.
Founded by former Federal Reserve regulator Amanda Ostrowitz in 2014, CannaRegs will be critical in helping the California adult-use market stay compliant. As one of the premier technology companies in the cannabis industry, CannaRegs is recognized for leading the movement with majority female leadership at its helm."
"We hope that this acquisition will expand MassRoots' compliance offerings, consolidating the most important operations for cannabis businesses into one central platform," said MassRoots CEO Isaac Dietrich. "We expect with MassRoots' resources and relationships, we can grow the number of businesses utilizing CannaRegs and significantly increase MassRoots' contractually-obligated monthly recurring revenue."
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) is a Phase 3 clinical stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company's lead product candidate, anabasum, is a novel synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. On August 9, the company announced its financial results for the second quarter ended June 30, 2017. The Company also provided an update to its corporate progress, clinical status and anticipated milestones for anabasum, its novel synthetic oral endocannabinoid-mimetic drug that is designed to resolve chronic inflammation and halt fibrosis.
Insys Therapeutics, Inc. (NASDAQ: INSY) is a specialty pharmaceutical company that develops and commercializes innovative drugs and novel drug delivery systems of therapeutic molecules that improve the quality of life of patients. Using proprietary sublingual spray technology and capabilities to develop pharmaceutical cannabinoids, INSYS is developing a pipeline of products intending to address unmet medical needs and the clinical shortcomings of existing commercial products. On July 31, the company announced that SYNDROS, a proprietary, orally administered liquid formulation of dronabinol, CII, is now available for health care professionals to prescribe. SYNDROS is a liquid formulation of the pharmaceutical cannabinoid dronabinol. SYNDROS is indicated for use in treating anorexia associated with weight loss in patients with Acquired Immune Deficiency Syndrome and nausea and vomiting associated with chemotherapy in cancer patients who have failed to respond adequately to conventional antiemetic treatments.
Zynerba Pharmaceuticals (NASDAQ: ZYNE) is dedicated to improving the lives of people with severe health conditions where there is a high unmet medical need by developing and commercializing pharmaceutically-produced transdermal cannabinoid medicines designed to meet the rigorous efficacy and safety standards established by global regulatory agencies. On August 7, the company announced top-line results from its double-blind placebo controlled Phase 2 STAR 1 (Synthetic Transdermal Cannabidiol for the Treatment of Epilepsy) clinical trial evaluating ZYN002 (cannabidiol [CBD] gel) in adult epilepsy patients with focal seizures. ZYN002 did not demonstrate a statistically significant reduction of focal seizures during the treatment period compared to the baseline period for either the high or low dose cohorts compared to placebo.
Cara Therapeutics Inc. (NASDAQ: CARA) is a clinical-stage biotechnology company, CT focused on developing and commercializing new chemical entities designed to fundamentally change the way acute pain, chronic pain and pruritus are managed. Cara Therapeutics focuses on developing new products that selectively target the body's peripheral kappa opioid receptors. Studies on the effects of cannabis (marijuana) have led to the recent discovery of an endogenous system of ligands in humans involved in a number of physiological processes including pain and inflammation. Cara is developing lead molecules that selectively modulate peripheral CB receptors without targeting CNS cannabinoid receptors. Cara's most advanced CB compound, CR701, is in preclinical development. Chief Marketing Officer of Cara Therapeutics, Dr. Joseph Strauffer said, Cannabinoid Receptor Agonists like CR701 have the potential to provide improved pain relief for patients suffering from neuropathic pain.
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