Cannabis stocks are heating up as companies continue to execute and we are excited by these developments.
Today, we have highlighted 10 company updates that we believe investors need to be aware of.
10 Stock Updates to be Aware of
- Aurora Cannabis (ACB.TO) (ACBFF) has continued to execute and yesterday, the licensed medical marijuana producer completed the acquisition of both BC Northern Lights Enterprises and Urban Cultivator, leaders in the production and sale of proprietary systems for the indoor cannabis cultivation and indoor gardening appliances, respectively. These are strategic acquisitions for Aurora which plans to capitalize on the home gardening market in Canada.
- CanniMed Therapeutics (CMED.TO) (CMMDF) and Avaria Health & Beauty announced that they have signed a non-binding letter of intent for the distribution of topical medical cannabis products, product development and clinical research. The companies plan to embark on several projects, including clinical trials using Avaria’s patented Liposomal technology in the development of new topical products, and pursuing international expansion opportunities.
- Emerald Health Therapeutics (EMH.V) (EMHTF) received a favorable response from the market after the company announced the appointment of Chris Wagner as the company’s CEO. He has spent more than 25 years in marketing pharmaceutical products and building biotechnology companies. Bin Huang, PhD, will continue to focus on the management of the company’s operations and expansion as President of Emerald Health Botanicals.
- Organigram Holdings (OGI.V) (OGRMF) rallied more than 30% in the last moth and we are favorable on this move higher as the company has continued to execute. Yesterday, the licensed medical marijuana producer announced the appointment of Tim Emberg as the company’s Vice President of Sales and Commercial Operations. As VP of Sales and Commercial Operations, he will focus on continuing to build on key relationships within the medical cannabis market place, as well as ensuring a presence in the Ontario market.
- GW Pharmaceuticals (GWPH) remained under pressure yesterday and this comes after the shares fell almost 10% on Friday. We are monitoring GWPH for a bottom and this plunge comes after Zogenix Inc. (ZGNX) reported positive top-line results from its pivotal phase III trial of ZX008 in Dravet Syndrome. Zogenix reported a 64% reduction in seizures for patients, while GW reported a 30% reduction.
- InMed Pharmaceuticals (IN.CN) (IMLFF) announced the filing of a provisional patent application in the U.S. for INM-405 and other unique compositions as cannabinoid-based topical therapies for the treatment of pain. InMed is researching the potential of non-THC cannabinoids to treat pain using a proprietary topical formulation.
- Medicine Man (MDCL) issued an update on new client activity after the cannabis consulting firm entered 12 new license and or service agreements since its last update (August 17th). The cannabis branding and consulting company currently has 58 active clients in California, Oregon, Colorado, Nevada, Illinois, Michigan, Arkansas, Pennsylvania, Florida, Ohio, Maryland, and Puerto Rico in the United States and territories, and Australia, Canada, and South Africa, internationally.
- Starting today, EVIO, Inc. (EVIO) will commence trading under its new ticker symbol EVIO. The company previously traded under the symbol SGBY and the change was made to be better aligned with the corporate name and business.
- Innovative Industrial Properties (IIPR) announced that it has filed a registration statement for a public offering of Series A Cumulative Redeemable Preferred Stock. The company plans to use the net proceeds to invest in specialized industrial real estate assets that support the regulated medical-use cannabis cultivation and processing industry that are consistent with its investment strategy, and for general corporate purposes.
- Zynerba Pharmaceuticals (ZYNE) has been trading in a very volatile manner after Zogenix Inc. (ZGNX) reported positive top-line results from its Phase 3 Clinical trial for Dravet Syndrome. We have been monitoring Zynerba closely and the market responded favorably after Cantor Fitzgerald upgraded the company to Buy from Hold. Canaccord Genuity maintained its Buy rating on the pharmaceutical firm and raised its price target on ZYNE to $15.
Source: Technical 420