February 08, 2019 (ACCESSWIRE via COMTEX) — CORAL GABLES, FL / ACCESSWIRE / February 8, 2019 / The marijuana stock market has managed to flourish over the last few years, despite the fact that cannabis itself remains illegal under federal law as a Schedule I narcotic. It’s almost laughable that marijuana is held to the same illegal regard as heroin or LSD, when modern science has made it quite clear that cannabis can actually benefit patients suffering from inflammatory diseases, anxiety, and countless other ailments. In terms of the future of the industry, lawmakers need to press onward with passing legislation in favor of cannabis, because this will allow companies in the sector to continue operating and developing novel products meant to improve the lives of consumers. If this takes place, investors looking for potential opportunities could benefit from keeping tabs on the nascent marijuana industry. Nabis Holdings (INNPF) (NAB), Green Thumb Industries Inc (otcqx:GTBIF), Cara Therapeutics Inc CARA, +10.31% and Curaleaf Holdings Inc (otc pink:CURLF) are four cannabis companies working to propel their industry into the future.
Nabis Holdings (INNPF) (NAB) is a Canadian investment company focused on investing in high-quality cash flowing and strategic assets across multiple aspects of the cannabis sector primarily in the U.S. limited license states with a roadmap to expand globally. Nabis’ corporate framework was conceptualized and put into action to enable the company to identify and acquire majority-stake interests across the broad spectrum of vertically integrated businesses, with a focus on strategic revenue generation, EBITDA and growth.
Nabis Holdings (INNPF) (NAB) announced earlier this week that the Company has entered into a binding term sheet with Momentum Ideas Co to acquire certain assets used and marketed under the brand Bloombox, including the Bloombox Software and data platform. Nabis’ acquisition of Bloombox will create a dominating presence in the growing U.S. cannabis market, featuring an integrated ecosystem of modern, next-generation technology.
Per the details of the agreement, the Bloombox team will work closely with Nabis Holdings (INNPF) (NAB), including Sam Gammon, the Company’s inbound Chief Technology Officer following the closing of the Investment.
Shay Shnet, Chief Executive Officer and Director of Nabis Holdings (INNPF) (NAB), said, “Bloombox is a strategic investment for Nabis as it creates a very well established retail and supply chain ecosystem to be used and distributed across the Nabis’ network of dispensaries across the United States. We look forward to working with the Bloombox team to further establish this retail cannabis software as the industry standard that we expect to be adopted by almost all cannabis retail locations, supply chain, & users.”
Green Thumb Industries Inc (GTBIF) announced earlier this week that the Company has signed into a definitive agreement to acquire For Success Holding Company, creator of the lifestyle suite of Beboe branded cannabis products and headquartered in Los Angeles.
Ben Kovler, GTI Founder and CEO, commented on the agreement, “the meticulously crafted suite of Beboe products supports the premium segment within GTI’s brand portfolio and is firmly aligned with our long-term growth strategy. Beboe has an extremely talented team, a robust innovation pipeline, and an aligned vision for what cannabis can mean for enhancing everyday life, not only for today but importantly for tomorrow’s cannabis consumer.
Cara Therapeutics Inc (CARA) saw impressive growth in its shares on Friday’s trading, with shares up 11.29%, trading at $16.95 per share just before noon. In early January, the biopharmaceutical company announced its completion of enrollment in the KALM-1 Phase 3 trial of KORSUVA™ (CR845/ difelikefalin) Injection in hemodialysis patients with moderate-to-severe chronic kidney disease-associated pruritus (CKD-aP).
Derek Chalmers, President and Chief Executive Officer of Cara Therapeutics, said, “we are pleased that our development team was able to enroll the trial within our projected timelines, and we look forward to reporting top-line data in the second quarter of this year.”
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Published: February 08, 2019
Founder & Interim Editor of L.A. Cannabis News