One major cog of the legal cannabis market is the CBD segment. CBD is an important part of the cannabis crop that doesn’t have any kind of psychotropic effects. It is generally used for medicinal purposes as against to recreational.
Forbes mentioned that in respect to the CBD market size, it is estimated to reach $3 billion by 2021. As of now there are as many as 15 states that permit CBD only. This is in addition to the DC plus 28 states that have approved medical marijuana.
The report suggests that the CBD market has been aimed by industry insiders. As per Headset Research report, in Washington state there are more than 800 CBD offerings in the marketplace. The firms that are set to benefit from this market is Cannabis Sativa Inc (OTCMKTS:CBDS), ChineseInvestors.com Inc (OTCMKTS:CIIX), Cara Therapeutics Inc (NASDAQ:CARA) and Eco Science Solutions Inc (OTCMKTS:ESSI).
Cannabis Sativa recently stated that it entered into a deal to acquire the intellectual asset for the White Rabbit brand of cannabis mints and cannabis sprays. The acquisition will comprise the proprietary and exclusive product formulations, manufacturing methods, product mixes and branding. This product line currently comprises of fast acting low quantity cannabis oral sprays and general low dose cannabis mints. These products are manufactured as CBD only, THC only as well as CBD/THC blends.
Cara Therapeutics is advancing lead molecules that selectively control peripheral CB receptors without aiming CNS cannabinoid receptors. They will be initially advanced as a unique therapeutic course for neuropathic pain, a problem currently without reliably effective treatments. Cara’s most developed CB compound, CR701, is still in preclinical stage. The CMO Dr. Joseph Stauffer expressed that cannabinoid receptor agonists have the potential to offer improved pain relief for people suffering from neuropathic pain.
In the last trading session, the stock price of Cannabis Sativa jumped more than 2% to close the week at $5.53.
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