The marijuana market has remained incredibly interesting as a new industry to invest in, but new developments in legislation and the changing public sentiment have made that come to fruition now more than ever. With celebrities endorsing cannabis stocks and the population in full support of the market, many stocks have managed to come to the forefront of this budding industry.
One company that has been working to build its brand is the company Acreage Holdings. Acreage has been working to bring their company to the public market with an IPO happening potentially this fall. The company has stated that they just received as much as $119 million in funding to continue growing their business, which could in effect help them to become one of the larger players in the industry. Acreage currently has holdings in 13 states across the U.S. with headquarters in New York City. The company has also stated that they expect to use this new funding to help prepare for their listing on a public exchange very soon. Acreage has stated that they plan to list on the Canadian Securities Exchange or CSE this fall as mentioned prior, which means that more companies in the U.S. could potentially be flooding into the Canadian market very soon.
Kevin Murphy, the CEO of Acreage stated that “the liquidity on the CSE is incredibly attractive to Acreage, and we know that retail investors in the U.S. have become comfortable with that exchange,” Murphy said in a statement. “We expect to see a tremendous response to our offering this fall.”
The company Insys Therapeutics (NASDAQ: INSY) is another one of the big guys to continue leading the marker right now. As another one of the big pharmaceutical companies working to build their interest in the cannabis industry, Insys has been producing a cannabinoid-based drug known as Syndros. Although the rollout of this drug has been somewhat slower than usual, the potential still remains incredibly high. The company has also been involved highly in the Opioid crisis currently plaguing the U.S., but their new drug could effectively create a viable option for patients suffering from various conditions.
Last on the list is the company Intec Pharma Ltd. (NASDAQ: NTEC). The company recently began work on their Phase I clinical trial of a drug known as AP-CBD/THC. This is a combination of the two most prevalent chemicals in the cannabis plant, and could potentially have a large amount of use as we move toward the future. Zeev Weiss, CEO of Intec, stated recently that “The progression of AP-CBD/THC into the clinic is a significant achievement for Intec and marks a major step forward in developing a potential new therapy for pain management. It is also our first demonstration of the Accordion Pill platform for cannabinoid therapies. Moving forward, we plan to evaluate the Accordion Pill platform in several other indications where a safe, effective, prolonged and consistent cannabinoid therapy may be able to provide therapeutic benefit where other treatments have failed. We are very pleased to have initiated our Phase I trial with AP-CBD/THC.”
These companies continue to present new and exciting ways to invest in the cannabis market that have never before been available to the public. The hopes are high that over the course of the coming years, the marijuana industry will continue to develop with the massive amount of ferocity that it has maintained up to this point. Only time will tell how well these companies will continue to change the landscape throughout the market.
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