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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