On April 13th Donald Trump announced unprecedented support of legalizing marijuana. This is a very big step for companies that are researching CBDs and other cannabidiol products for consumers and patients. Jeff Sessions, the current Attorney General, has been extremely anti-marijuana, but Trump is in support of states’ rights to decide their own marijuana laws.
Just days later, Chuck Schumer and the democrats introduced legislation to decriminalize marijuana on the federal level. This is extremely important as it pertains to the ability of firms to research marijuana and, more importantly, cannabinoids. These moves by democrats, and Trump, could be a massive catalyst for companies involved in the CBDs.
GW Pharmaceuticals plc
Market Cap: $3.735B, current share price: $136.62
GWPH, a biopharmaceutical company focused on discovering, developing, and commercializing novel therapeutics from its proprietary cannabinoid product platform, received the nod for an FDA panel for the company’s cannabidiol product. Paving the way for the drug Epidiolex to be the first cannabis-based drug nearing FDA approval. The FDA panel voted 13-0 in favor of GW’s drug, and Cowen analysts have said to expect $1.3 bln in sales by 2022.
INSYS Therapeutics, Inc.
Market Cap: $518.6M, current share price: $6.96
INSY, focused on development, manufacture, and commercialization of pharmaceutical cannabinoids, recently announced that the company would advance clinical research of Dronabinol Inhalation using novel breath-actuated device. The company’s security is down more than 50 percent from it’s 52 week-high.
Terra Tech Corp.
Market Cap: $205.8M, current share price: $3.15
TRTC, a vertically integrated cannabis-focused agriculture company, reported record revenues for the period ending December 31st, 2017. The company’s security is down approximately 66 percent from its 52 week-high.
General Cannabis Corp.
Market Cap: $148.1M, current share price: $4.18
CANN, recently announced that the company had closed a private financing. The company issued $5.54 million of senior secured promissory notes and an aggregate of 4,432,000 warrants to purchase common stock at the closing. The proceeds of this debt raise will be used primarily to fund the Company’s expansion and for working capital. The company’s CEO stated “This new capital raise will allow us to continue to deliver increased value to our shareholders.”
(Source: Microcap Speculators)