NEW YORK, March 27, 2017 /PRNewswire/ --
FinancialBuzz.com News Commentary
According to a new report by Arcview Market Research, the legal cannabis consumer spending across North America, grew 34 percent to $6.7 billion and can be expected to grow at
a 27 percent compound annual growth rate of (CAGR) over the next five years, from $6.7 billion in
2016, to $22.6 billion in 2021. This more than tripled the portion of Americans that will be able
to purchase cannabis without a doctor's recommendation. Voters in California, Massachusetts, Nevada, and Maine passed
adult-use measures in 2016. Arcview Editor-in-Chief Tom Adams stated, "When the #1 concentrate
brand in CO grows 84 percent but its market share percentage remains constant, it becomes clear we are in a remarkable business
boom. It reminds me of 1998, when Google was just one of dozens of search engines, or 1988 when Blockbuster was just one of
dozens of video store chains; future market leaders are just now being launched." Therapix Biosciences Ltd. (NASDAQ: TRPX), GW
Pharmaceuticals plc (NASDAQ: GWPH), Cara Therapeutics Inc. (NASDAQ: CARA), Insys Therapeutics Inc. (NASDAQ: INSY), Zynerba
Pharmaceuticals Inc. (NASDAQ: ZYNE).
Some countries are approaching medical cannabis as a possible new submarket of the pharmaceutical and biotech industry.
Israel, for example, is attracting international investments as it tries to position itself as a
cutting-edge exporter in the rapidly-growing market for medical-grade cannabis, Reuters reported. There are about 120 studies
ongoing in Israel, which includes clinical trials looking at the effects of cannabis in autism,
epilepsy, psoriasis and tinnitus.
Therapix Biosciences Ltd. (NASDAQ: TRPX) is an Israel-headquartered emerging specialty
pharmaceutical company, developing unique Cannabinoid technologies in treatment of central nervous system (CNS) disorders.
Therapix Biosciences Ltd. describes itself as, 'a specialty clinical-stage pharmaceutical company led by an experienced team
of senior executives and scientists, focused on creating and enhancing a portfolio of technologies and assets based on
cannabinoid pharmaceuticals. With this focus, the company has initiated two internal drug development programs based on
repurposing a U.S. Food and Drug Administration, or FDA, approved synthetic cannabinoid (dronabinol): Joint Pharma developing
THX-TS01 targeted to the treatment of Tourette Syndrome, and BrainBright Pharma developing THX-ULD01 targeted to the high value
and under-served market of mild cognitive impairments.'
On March 22nd, Therapix Biosciences announced, 'the pricing of its initial public offering in
the United States of 2,000,000 American Depository Shares ("ADSs"). Therapix plans to use the
net proceeds from the offering to advance the formulation and clinical development efforts for its two lead product candidates,
including Phase II clinical trials, and for working capital and other general corporate purposes.
GW Pharmaceuticals plc (NASDAQ: GWPH) is a biopharmaceutical company focused on discovering, developing and
commercializing novel therapeutics from its proprietary cannabinoid product platform. Earlier in February, the company announced
positive top-line results from an exploratory Phase 2 placebo-controlled clinical study, of a proprietary combination of
tetrahydrocannabinol (THC) and cannabidiol (CBD) in 21 patients with recurrent glioblastoma multiforme, or GBM. GBM is a
particularly aggressive brain tumor, with a poor prognosis. GW has received Orphan Drug Designation from the U.S. Food and Drug
Administration (FDA) and the European Medicines Agency (EMA) for THC:CBD in the treatment of glioma.
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. The company is currently developing lead molecules
that selectively modulate peripheral CB receptors without targeting CNS cannabinoid receptors. Peripheral CB receptor modulators
will be initially developed as a novel therapeutic approach for neuropathic pain, a condition, currently without consistently
effective therapies. Cara's most advanced CB compound, CR701, is in preclinical development.
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. Earlier in 2016, the company announced enrollment of the first patient in a Phase II clinical trial for the
treatment of cocaine dependence using its pharmaceutical cannabidiol (CBD) product candidate. The study is being conducted by
Dr. Didier Jutras-Aswad, MD, at the University of Montreal Hospital Research Center (CRCHUM) and is supported by
the Canadian Institutes of Health Research.
Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) is a clinical-stage specialty pharmaceutical company, dedicated to the
development of innovative transdermal synthetic cannabinoid treatment. On March 13th, the company
announced that it has completed enrollment in the Phase 2 STAR 1 (Synthetic Transdermal Cannabidiol for the Treatment of
Epilepsy) clinical trial, evaluating ZYN002 cannabidiol (CBD) gel in adult epilepsy patients with refractory focal seizures. The
Company also announced that enrollment has completed in the Phase 2 STOP (Synthetic Transdermal Cannabidiol for the Treatment of
Knee Pain due to Osteoarthritis) clinical trial evaluating ZYN002 CBD gel for the treatment of osteoarthritis.
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