With Latest DEA and FDA Approvals, Medicinal Cannabis Technological Progress Reaching New Levels
Palm Beach, FL – (October 31, 2018) – Medicinal cannabis continues to perform at a high level as its adoption into mainstream markets continues. Canada and Several states in the United States are raking in hundreds of millions of dollars in tax revenues from the raging success of medicinal and recreational cannabis. According to Statista, medicinal cannabis revenues could reach as high as $5 Billion in the US alone by 2020. This past September, the U.S. Drug Enforcement Administration (DEA) rescheduled some cannabidiol, a move that allows the sale of the first nonsynthetic, cannabis-derived medicine to win federal approval. That decision came three months after the U.S. Food and Drug Administration approved Epidiolex, a CBD preparation for rare types of epilepsy which is a GW Pharmaceuticals plc (NASDAQ:GWPH) lead cannabinoid product candidate. Active cannabis companies in the markets this week include Generex Biotechnology Corporation (OTC:GNBT), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED), Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB), Aphria Inc. (TSX:APH.TO) (OTCQB:APHQF).
Generex Biotechnology Corporation (OTCQB:GNBT) BREAKING NEWS: HydRx Farms Ltd. (o/a Scientus Pharma) (“Scientus” or the “Company”), a biopharmaceutical company conducting research and product development for extracts and formulations related to medical cannabinoids and their derivatives, today provided an update on its collaboration with Generex Biotechnology Corporation (OTCQB:GNBT) (“Generex”), whereby the companies are co-developing products for the delivery of cannabinoids via the buccal mucosa (the inner lining of the mouth).
Having recently received Health Canada authorization to produce cannabis softgel capsules and oils at its state-of-the-art, 45,000 Sq. Ft. commercial production facility in Whitby, Ontario, the Company will turn its focus towards the final development of a buccal cannabis spray using Generex’s RapidMist™ technology.
“The ability to produce through our proprietary extraction and activation method an intermediary resin that is >99% activated for THC and CBD allows us to provide cannabis APIs at scale that can be incorporated into a variety of delivery methods, such as buccal spray, that were previously challenged by suboptimal potency and/or bioavailability,” said Har Grover, Chairman and CEO of Scientus. “Our collaboration with Generex provides access to the drug delivery technology that will enable development of an effective cannabis buccal spray. This route of administration is an attractive alternative to patients who have concerns about inhaling or eating medical cannabis, but still want its full therapeutic benefit.”
“The RapidMist Buccal Delivery System from Generex is perfectly suited to the formulation and administration of cannabinoids for therapeutic benefit”, said Joe Moscato, CEO of Generex. “THC and CBD ratios can be formulated specifically for therapeutic indications to achieve optimal benefit, and the device provides a consistent, reliable metered dose to ensure proper use. Patients will be satisfied with the ease of use and reliability of effect of the RapidMist Cannabis product line.” Read this and more news for Generex Biotechnology at: https://financialnewsmedia.com/news-gnbt
Other recent developments in the cannabis industry include and companies on watch:
Canopy Growth Corporation (NYSE:CGC) (TSX:WEED) recently announced the launch of a new brand for the recreational market in Canada, LBS (pronounced “L-B-S”). The Company has established a curated and world-recognized family of brands, both in-house and through partnerships with icons in the cannabis space. LBS is the latest exciting addition to join the family. The LBS brand slogan — “Worth Its Weight In Gold” — is a reference to the care and quality put into the brand’s products and also to its roots in California , the Golden State. The company name is also a nod to the shorthand for pounds. In addition to positioning itself as the gold standard in the cannabis industry, LBS will focus on embracing diversity and inclusiveness throughout all brand messaging and Company initiatives. LBS will offer a wide variety of cannabis strains and products, including flower, softgels, oil, and pre-rolls, that will be available in select stores across Canada as of October 17, 2018.
Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) recently announced that Polish Ministry of Health granted the Company approval for its first shipment of medical cannabis to Poland. In the coming days, Aurora Deutschland GmbH will ship the products to a pain treatment center and a hospital in Warsaw. This is an important milestone for medical patients in Poland, as it is believed to be the first time a non-government run business has been granted approval to supply medical cannabis products in the country. Under Polish legislation, physicians can prescribe medical cannabis products to patients who can then access it through registered pharmacies. In specific instances, products will be covered under statutory health insurance, thus establishing a new and significant medical market for Aurora. “Becoming the first company to supply cannabis to Poland is validation of Aurora’s ability to do business in international markets with high barriers to entry,” said Neil Belot, Chief Global Business Development Officer. “This is an important milestone for patient access in Poland, which will provide options for people seeking alternative medications to help manage symptoms of a wide range of medical conditions. Aurora continues to grow its international footprint, which now spans 19 countries on five continents, and puts us in an enviable position to capitalize on our early mover advantage.”
GW Pharmaceuticals plc (NASDAQ:GWPH) recently announced the closing of the previously announced underwritten public offering on the Nasdaq Global Market by GW of 1,900,000 American Depositary Shares (“ADSs”) and the full exercise by the underwriters of their option to purchase 285,000 additional ADSs from GW at a price to the public of $158.00 per ADS, raising gross proceeds of $345,230,000 (before deducting underwriting discounts, commissions and offering expenses). Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, J.P. Morgan and Cowen and Company, LLC acted as joint book-running managers for the offering. The ADSs described above were offered by GW pursuant to a shelf registration statement filed by GW with the Securities and Exchange Commission (“SEC”) that became automatically effective on April 17, 2017. A prospectus supplement related to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov.
Aphria Inc. (TSX:APH.TO) (OTCQB:APHQF) announced that its common shares have been approved for listing on the New York Stock Exchange (“NYSE”) and will commence trading effective the open of markets on November 2, 2018. Aphria’s shares will trade on the NYSE under ticker symbol “APHA”. The Company’s ticker symbol on the Toronto Stock Exchange (TSX) will also change from “APH” to “APHA”, effective November 2, 2018 . Existing shares of Aphria, which previously traded on the OTCQB under the ticker symbol “APHQF” will now trade on the NYSE.
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