3 biotech stocks leading the cannabis boom

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Although the growing and selling of marijuana remains the sexiest opportunity in the legal medical marijuana industry, we continue to see the most potential on the biotech side of the industry.

Biotech companies focused on medical marijuana really possess the greatest upside potential as they work to develop treatments derived from marijuana, which can be used to improve daily life for millions of people throughout the world.

Today, we highlighted three Nasdaq traded biotech firms focused on developing marijuana based treatments and provided insight into some of the recent company developments and price movements.  

Corbus: Where Do Shares Go After a 20% Rally

Corbus Pharmaceuticals Holdings (CRBP) was one of the top performers last week and the shares were up 16% during this time. CRBP is trading at $6.85 after this move higher and we continue to keep this stock on our radar.

Corbus is a pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The company’s leading product candidate, Anabasum is a novel synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes.

Anabasum has demonstrated positive results in two Phase 2 studies (diffuse cutaneous systemic sclerosis and cystic fibrosis) and is being evaluated in open-label extension studies in systemic sclerosis and skin-predominant dermatomyositis.

In the fourth quarter, Corbus plans to commence a Phase 3 study of Anabasum for the treatment of systemic sclerosis and are also planning to initiate a larger and longer Phase 2b study for the treatment of cystic fibrosis (by the end of the fourth quarter). We think this is a stock to watch!

GW Pharma: Possesses Several Catalysts for Growth

After GW Pharmaceuticals (GWPH) reported earnings in early August, the shares have been under pressure and have fallen more than 12%. This weakness was most likely due to the biotech firm extending its expectations for a New Drug Application (NDA) submission.

GW planned on submitting a NDA in mid-2017 but pushed this date out to October. The company is changing the landscape of the biotech industry and already sells a cannabis-derived treatment for multiple sclerosis is 27 countries.

GW Pharma is a company that investors need to watch as it continues to execute on its pipeline and create value for shareholders. We are favorable on GW’s long-term opportunity and view GW as one of the best cannabis investment opportunities.

Our bullish view is due to GW’s extensive pipeline of products in advanced stages of FDA testing, its balance sheet which is strong enough to support the cost of clinical trials, its impressive Wall Street coverage, and the $390 acquisition price placed on the company by Goldman Sachs.

Cara Therapeutics: Have the Shares Found a Bottom?

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Source: 420 Intel – United States

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