NEW YORK, December 11, 2017 /PRNewswire/ --
According to a report published by Grand View Research, the global medical cannabis market is expected to reach USD 55.8 billion by 2025. Rising awareness of various medical applications in cannabis is one of the factors driving the market. The report indicated that chronic pain was the largest application segment, holding 39.6 percent of the revenue share in 2015, while application in cancer grows at the fastest rate at a CAGR of 18.2 percent during the forecast period. The growing number of cannabis legalization in the U.S. also contributed to the growth of the market. Currently, 29 states allow the sale of medical cannabis, while cannabis for recreational use is legal in 8 states. Doja Cannabis Co Ltd. (OTC: DJACF), Corbus Pharmaceuticals Holdings, Inc. (NASDAQ : CRBP ), Zynerba Pharmaceuticals Inc. (NASDAQ : ZYNE ), 22nd Century Group Inc. (NYSE : XXII ), Kush Bottles, Inc. (OTC: KSHB)
New Frontier Data CEO Giadha Aguirre De Carcer explained, "During this tough economy states are looking for any way to close their budget shortfalls and it appears that cannabis may hold an answer for them. New Frontier Data looked at the potential revenues that could be generated from state cannabis taxes and found that in this year alone, states could raise nearly $750 million and triple that number by 2020. These revenues will have a meaningful impact on state programs and provide governors with much needed breathing room in their budgets."
Doja Cannabis Co Ltd. (OTC: DJACF) also listed on the also listed on the Canadian Stock Exchange under the Ticker 'DOJA'. Earlier today the company announced breaking news that, "its wholly-owned subsidiary has received its import permit from Health Canada for the import of one shipment of cannabis seeds. The import permit will expire on December 31, 2017.
Trent Kitsch, CEO of DOJA commented, "We are pleased to have been granted an import permit by Health Canada. Our mandate has always been to differentiate ourselves, not only through our approach to the market, but also by curating a diverse cultivar offering.
Being amongst a limited number of licensed producers to be granted and successfully navigate the import license process, we now can now further build our genetic library and create some truly unique strains and products."
ABOUT DOJA - DOJA™ is a premium cannabis lifestyle brand growing high-quality handcrafted cannabis flower. DOJA's wholly-owned subsidiary is a licensed producer of cannabis under the ACMPR that has requested its Pre-Sales License Inspection, the last step prior to receiving a license to sell cannabis under the ACMPR. DOJA's state-of-the-art ACMPR licensed production facility is located in the heart of British Columbia's picturesque Okanagan Valley. DOJA was founded by the proven entrepreneurial team that started SAXX Underwear®."
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 November 27, 2017, the company announced that the U.S. Patent and Trademark Office issued U.S. Patent No. 9,820,964 to the Company with claims covering the use of pharmaceutical compositions comprising anabasum for the treatment of multiple fibrotic diseases, including the Company's lead indications: systemic sclerosis, dermatomyositis, cystic fibrosis as well as others. The patent provides intellectual property protection in the United States for the use of anabasum through 2034.
Zynerba Pharmaceuticals Inc. (NASDAQ : ZYNE ) is a clinical-stage specialty pharmaceutical company dedicated to developing and commercializing innovative pharmaceutically-produced transdermal cannabinoid treatments. Recently, the company reported new clinical data presented at the 2017 Annual Meeting of the American Epilepsy Society (AES) in Washington, DC. The key findings include that clinically meaningful responses to ZYN002, as measured by reductions in focal seizures from the baseline period of STAR 1, are correlated with continued treatment with ZYN002. Patients who received ZYN002 (195mg during STAR 1 for three months and 390mg for six months in STAR 2) for a total of nine months achieved a median reduction in seizures of 65%. Patients who received ZYN002 (390mg for three months in STAR 1 and six months in STAR 2) achieved a 48% median reduction in seizures from baseline. In addition, ZYN002 was shown to be very well tolerated through nine months of exposure.
22nd Century Group Inc. (NYSE : XXII ) is a plant biotechnology company focused on genetic engineering and plant breeding which allows the increase or decrease of the level of nicotine in tobacco plants and the level of cannabinoids in hemp/cannabis plants. The Company's primary mission in hemp/cannabis is to develop proprietary hemp/cannabis strains for important new medicines and agricultural crops. 22nd Century has developed a solution to this problem by creating industrial hemp plants that contain zero THC. The Company's ongoing research is product-oriented and focused on developing a range of next generation industrial hemp plants that contain optimized levels of medically important cannabinoids, such as CBD, CBC, and CBG.
Kush Bottles, Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry. Founded in 2010 as a packaging and supplies company for dispensaries and growers, Kush Bottles has sold more than 100 million units and now regularly services more than 4,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. The company has facilities in the three largest U.S. cannabis markets and a local sales presence in every major U.S. cannabis market. On November 28, 2017, the company reported financial results for its fiscal year ended August 31, 2017
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