Market Overview

Medicinal Cannabis Market Expected to Grow to Nearly $20 Billion by 2024


Medicinal Cannabis Market Expected to Grow to Nearly $20 Billion by 2024

PR Newswire

LAS VEGAS, August 6, 2018 /PRNewswire/ --

FN Media Group Presents News Commentary 

On June 25, the FDA approved London-based GW Pharmaceuticals' Epidiolex, a drug containing CBD as its active ingredient, to treat two rare and severe forms of epilepsy, Lennox-Gastaut syndrome and Dravet syndrome, in patients 2 years old and older.

This is a major win for a CBD market that continues to expand. According to a recent report by Hexa Research, the U.S. medical cannabis market is projected to reach $19.48 billion by 2024.

These companies could benefit from the expected growth in Medicinal Cannabis:, Inc. (OTC:CIIX), CV Sciences, Inc. (OTC:CVSI), Aurora Cannabis (OTC:ACBFF), GW Pharmaceuticals, Inc. (NASDAQ:GWPH), and Insys Therapeutics, Inc. (INSY)., Inc. (OTCQB:CIIX)

Market Cap: $11.07M Share Price: $0.39 (CIIX), a premier financial info website for Chinese-speaking investors, is engaged in retail, online and direct sales of CBD/hemp-based products and other health related products. CIIX does this through their wholly owned subsidiary Inc., and its websites. CIIX is planning for a major revenue expansion domestically for its CBD/Hemp based business. The company released an 8-k today referencing a capital raise of up to $3 million.  

CV Sciences, Inc. (OTCQB:CVSI)

Market Cap: $282.86M Share Price: $3.12

CV Sciences, Inc. is a supplier and manufacturer of hemp-based phytocannabinoids including cannabidiol (CBD) oil and developer of specialty pharmaceutical therapeutics. The Company recently had news showing unaudited second quarter 2018 revenue. Second quarter 2018 revenue is expected to be USD 12.3 Million, up over 200% to the second quarter of 2017.  

Aurora Cannabis (OTCQX:ACBFF)

Market Cap: $3.11B Share Price: $5.45

Another CBD company receiving investor interest from recent new is Aurora Cannabis Inc. (ACBFF). The company recently received a Letter of Intent to establish one of the first medical cannabis production facilities in Malta. The Company received a Letter of Intent from Malta Enterprise for the establishment of a seed-to-pharma cannabis operation, including the construction of a hybrid production facility that will be focused predominantly on the production of oils and derivatives. Operations will be carried out by a new company, to be formed by Aurora and its local partner Cherubino Ltd., the largest pharmaceutical wholesaler in Malta with an operating history of over 100 years. Aurora will be the majority shareholder in the new venture.

GW Pharmaceuticals, Inc. (NASDAQ:GWPH)

Market Cap: $3.80B Share Price: $135.07

Referenced earlier in this report, GW Pharmaceuticals, Inc. (GWPH), and its FDA approved product Epidiolex. The company is preparing to announce their fiscal 3rd quarter results August 7th on a conference call at 4:30 pm. The company's stock has actually been on a downward trend over the last few months.

Insys Therapeutics, Inc. (NASDAQ:INSY)

Market Cap: $491.56M Share Price: $6.66

Not all CBD companies have had positive news, last Friday, Insys Therapeutics, Inc announced the U.S. Food and Drug Administration declined to approve its opioid painkiller, citing potential safety concerns. Insys' treatment is an under-the-tongue spray formulation of the opioid buprenorphine that was under review to treat moderate-to-severe pain. Despite the news, the stock has started to rebound.

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MS Disclosure: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. ACR Communication, LLC, which owns, is not registered with Finra or any other financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. ACR Communication, LLC [and/or] does not have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. ACR Communication LLC, which owns, is compensated for its services in the form of cash-based compensation or in equity in the companies it writes about, or a combination of the two. ACR Communication, LLC has been compensated one thousand dollars cash for this article and two thousand dollars total by Regal Consulting. LLC, for news commentary articles for CIIX. CIIX and Regal Consulting, LLC were given an opportunity to edit information included in this article. This article is based solely on public information and the opinions of ACR Communication, LLC, which believes the news commentary to include accurate and complete information. ACR Communication, LLC, will not buy or sell any shares in stocks contained within this article for forty eight hours after this article's distribution.

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