Cannabis Weekly Round-Up: NIH Funds Medical Marijuana Study

- August 18th, 2017

This past trading in the cannabis marketplace saw another major dip to the Marijuana Life Sciences Index, the first medical marijuana study funded by a US medical government research group.

The past trading week (August 14-18) saw the FDA admit to the benefits of cannabinoids as part of a request for comments, the TSX is still evaluating the dangers of cannabis companies trading on the stock listing while holding business in the US and will provide more info later. Canadian market news and the biggest gaining stocks of the week make finish up the cannabis weekly round-up.
The Investing News Network (INN) reported that thanks to a notice for people to provide comments on the use of cannabinoids, the US Food and Drug Administration admitted to the beneficial uses of CBD in “experimental models of several neurological disorders, including those of seizure and epilepsy.”
A new report from ISRAEL21c details the possibilities for the country of Israel to begin its export of medical cannabis. “The export of medical cannabis is an industry with significant economic potential for the State of Israel and will strengthen Israeli agriculture,” Finance Minister Moshe Kahlon toldISRAEL21c. “It will serve as an opportunity for [Israel] to exploit its relative advantage in developing medical products from medical cannabis.”
The TMX Group issued a statement on Thursday indicating they are working to clarify the situation regarding cannabis companies listed on the TSX, which may have business in the US or intentions of heading that way. Currently cannabis is illegal in the US on the federal level, however, on a state by state cases, there have been my locations that have emopportunitiesitienes of revenue and taxation in cannabis.
The Canadian marijuana ETF stayed stagnant over the trading week. Over the five-day trading period, the Marijuana Life Sciences Index ETF (TSX:HMMJ) finished with a 0 percent decline or increase. As of 1:27 p.m. EST on Friday, the ETF traded at $8.52. Year-to-date, the index has dropped 16.88 percent.
One of Aphria’s (TSX:APH; OTCQB:APHQF) most recent deals provided an update on the status of their expansion. Tokyo Smoke will open six new retail locations over the next two years in Calgary, Alberta, Saskatchewan, and Manitoba. “Expanding into the Prairies by partnering with Leo’s Group allows us to deliver the Tokyo Smoke experience tailored to the local market,” Alan Gertner, founder, and CEO of Tokyo Smoke said in the announcing statement.
Next week will see the launch of a new stock on the Canadian Securities Exchange (CSE). CannTrust Holdings (CSE:TRST) will begin trading on Monday, August 21. This LP is currently upgrading its 420,000 square feet greenhouse facility, with phase 1 expected to be operational before the year is over.
Two of the biggest winners this week in the cannabis public market include Cronos (TSXV:MJN) and Emblem (TSXV:EMC), they reported, at the time of this writing 2:11 EST, a 13.17 percent and a 8.33 percent gain for the past five trading days.
Don’t forget to follow us @INN_LifeScience and @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

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** This article is updated each week. Please scroll to the top for the most recent information**

Cannabis Weekly Round-Up: NIH Funds Medical Marijuana Study

By Bryan Mc Govern August 11, 2017
Over the trading period between August 7-11 in the cannabis market, some big news included another major dip to the Marijuana Life Sciences Index (TSX:HMMJ), while the week also brought the first medical marijuana study funded by a US medical government research group.
In a first of its kind type, the National Institutes of Health (NIH) funded a long-term study looking into the impact of medical marijuana on opioid use. NIH will give $3.8 million over a five-year period to the Albert Einstein College of Medicine and Montefiore Health System for the study.
“We hope this study will fill in the gaps and provide doctors and patients with some much needed guidance,” Dr. Chinazo Cunningham, associate chief of internal medicine at Einstein and Montefiore said in a statement as reported by MarketWatch.

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President Donald Trump also declared during the week a state of emergency regarding the opioid crisis affecting the country, whereas cannabis has been suggested as a viable alternative to opioids and their addictive effect on patients. However, Attorney General Jeff Sessions has been a rampant opposer of cannabis in all ways in the US.
The Investing News Network reported on Aphria’s (TSX:APH; OTCQB:APHQF) investment into the US market through the company Liberty Health Sciences (CSE:LHS), which recently began trading on the Canadian Securities Exchange. In a more hands-on deal, Aphria also announced investment in Licenced Producer (LP) hopeful Nuuvera, which will begin construction of a new greenhouse facility.
A new report from Marijuana Business Daily took a closer look at the potential growth medical cannabis companies in Canada may see through the international market.
“In addition to our expertise and the credibility of having operated successfully under rigorous government regulation in Canada, we have access to the level of capital required to make significant investments in equity and also in capital projects,” Cam Battley, board member of Cannabis Canada, told Marijuana Business Daily.
During the Canaccord Genuity Growth Conference in Boston, Canopy Growth (TSX:WEED) CEO Bruce Linton spoke with the Business News Network about the plans of the company in terms of the US market.
Due to the illegal nature of cannabis in the US, Linton said Canopy has no intention to break laws there and wouldn’t want to risk entering that market despite encouraging signs from states legalizing both recreational and medical marijuana.
THC BioMed (CSE:THC) announced on Friday (August 11) that  it signed a $12 million dollar “commitment” from Alumina Partners.
President and CEO John Miller said in a fast moving industry like cannabis the access for capital is essential. “We continue to remain conscious of dilution and look towards revenue generation and profitability to finance our growth only using financing as a last resort,” he said in a press release.
The Canadian marijuana ETF had a decrease over the trading week. Over the five-day trading period, the Marijuana Life Sciences Index ETF (TSX:HMMJ) dipped 9.55 percent. As of 1:45 p.m. EST on Friday, the ETF traded at $8.52. Year-to-date, the index has dropped 16.88 percent.
Lift News reported on the Standing Committee on Health posting briefs, submissions from the general public, regarding the “upcoming analysis” of Bill C-45, the much-anticipated cannabis act.
In a report this week by Cantech Letter, Canaccord analyst Neil Maruoka held a “Buy” rating for Maricann (CSE:MARI) despite the exit of chief financial officer Jeremy Blumer, set to be replaced on an interim basis by CEO Ben Ward.
“While we did have some reservations given the complexity of financial reporting for cannabis companies, following a discussion with management, we are confident that Mr. Ward has sufficient external support from experienced cannabis executives,” Maruoka said.
“I am astonished to hear people suggest that we can solve our heroin crisis by legalizing marijuana—so people can trade one life wrecking dependency for another that’s only slightly less awful,” MarketWatch reported.
It was another short gaining week for cannabis stocks, Aurora Cannabis (TSX:ACB; OTCQB:ACBFF) and Tetra Bio Pharma (CSE:TBP) saw a 0.41 percent increase and a 2.63 decrease respectively.
Don’t forget to follow us @INN_LifeScience and @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

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