Pharmaceutical Advancements in Medicinal Marijuana Continue to Evolve While Producing Higher Quality Cannabinoid Extracts - Seite 2

$1 Million Annual Revenue Operation With Initial Expansion Target to $16 Million - The pending acquisition of First Choice Nursery is taking over what was a family owned nursery operation. The projected $1 million in annual revenue from the operation of 25 greenhouses will come primarily from the sale of traditional greenhouse-grown flowers for use in residential landscaping. The original nursery operation had a long history that includes contracts with Lowes and Home Depot. Puration and NCM Biotech plan to expand existing University Research relationships to include a portion of the greenhouse facility being utilized to develop a proprietary strain of CBD. Puration will use proceeds from the balance of the traditional nursery operation to expand the operation into its full 400 greenhouse potential. 

In other industry developments and market activity: 

GW Pharmaceuticals plc (NASDAQ: GWPH) closed up at $104.72 on Wednesday with over 300,000 shares traded by the market close. GW Pharmaceuticals announced back in May that that The New England Journal of Medicine has published results from a Phase 3 study of Epidiolex® (cannabidiol) in children with Dravet syndrome. Epidiolex, GW's lead product candidate and the potential first in a new category of anti-epileptic drugs, is a liquid formulation of purified, plant-derived cannabidiol (CBD), a non-psychoactive cannabinoid, which is being studied for the treatment of a number of rare, severe pediatric-onset epilepsy disorders. In the study, Epidiolex significantly reduced monthly convulsive seizure frequency compared to placebo in highly treatment-resistant children when added to existing treatment. Treatment with Epidiolex was generally well tolerated, with a safety profile consistent with prior open label experience.

CV Sciences Inc. (OTCQB: CVSI) finished Wednesday up slightly at $0.241 by the market close. The company recently announced that it held its pre-IND meeting with the U.S. Food and Drug Administration (FDA) on June 15, 2017, to review its drug development plan for CVSI-007, the Company's patent-pending product for smokeless tobacco addiction therapy consisting of nicotine-polacrilex chewing gum in combination with synthetic cannabidiol (CBD). CV Sciences President and CEO Michael J. Mona, Jr. commented, "Our pre-IND meeting with the FDA was very constructive and provided the Company with a favorable development roadmap for this important combination drug candidate."