The Canadian cannabis sector has been trending higher and came off its recent lows. This has caught the attention of cannabis investors and we are closely monitoring how the sector trades this week.
Over the last week, several significant company announcements have been reported and today, we have highlighted nine important company updates that cannabis investors need to be aware of.
Emerald Health and Village Farms: A Dynamic Duo
GW Pharmaceuticals (GWPH) is an industry leader for a reason…
Developing cannabis-based pharmaceutical treatments is not as easy as it looks and Zynerba Pharmaceuticals (ZYNE) is learning that the hard way.
Zynerba is trading considerably lower after reporting negative top-line results from its double-blind placebo controlled Phase 2 clinical trial evaluating ZYN002 cannabidiol (CBD) gel in adult epilepsy patients with focal seizures.
Medical cannabis has the potential to improve the daily lives of millions of people throughout the world. For that reason alone, the biotech sector will be one of the greatest beneficiaries of the legal cannabis movement.
Medical cannabis has the ability to treat countless debilitating and untreatable conditions and this has pharmaceutical companies scared. We expect to see several acquisitions within this space over the next year and have already identified several candidates.
Although Canadian companies levered to the emerging legal cannabis industry stole the headlines yesterday, Nasdaq-traded biotech firms focused on cannabis-based treatments continued to announce important developments.
Two companies on our watch list, Insys Therapeutics (INSY) and Zynerba Pharmaceuticals (ZYNE) were two of the biggest movers yesterday, rallying 7.7% and 4.4%, respectively.
New President and CEO Send Shares Higher
Zynerba Pharmaceuticals (ZYNE) reported fourth quarter and full-year financial results for the period that ended on December 31st and provided an overview of recent operational highlights.
Operational Highlights Show Continued Execution
Despite favorable economic data global markets recorded mixed movements which we believe was is the result of investors preparing for an interest rate hike this week.
Since one of the hottest sub-sectors of the cannabis industry was impacted by this volatility we think this weakness has created an opportunity for investors.
Agencies across the globe continue to recognize the medical benefits associated with cannabis. It is only a matter of time before this incredible plant will be legalized in the United States.
Despite favorable state-wide election results, concerns among cannabis investors have increased and cannabis stocks continue to move lower following an overextended industry wide rally as well as highly questionable cabinet nominations by president elect Donald Trump.
Although the recent downward trend is concerning, this weakness has created an opportunity for investors to purchase high quality cannabis investments at a considerable discount.
Biotech stocks levered to the cannabis industry have been trading soft over the last month following the DEA’s decision not to reschedule cannabis out of its current Schedule I status.Even though marijuana clearly has medical benefits, it remains a Schedule I substance alongside heroin, LSD, ecstasy, and bath salts under the Controlled Substances Act (CSA). According to the United States Drug Enforcement Agency, Schedule I substances have the following characteristics: