Marijuana Stocks Daily Briefs: GW Pharma Celebrates, Namaste Uplists, Kush Bottles Gives It All Away
Breaking good is Nasdaq traded marijuana stock GW Pharmaceuticals plc (Nasdaq:GWPH) who announced on Thursday that the New Drug Application for their cannabidiol oral solution (CBD), known as Epidiolex, received unanimous approval from the Peripheral and Central Nervous System Drugs Advisory Committee of the U.S. Food and Drug Administration (FDA). The drug is designed to treat patients age two and older who suffer from seizures associated with Lennox-Gastaut syndrome and Dravet syndrome. Already making waves, the drug would be the first cannabis-derived medication to be approved for sale in the United States should it make it that far.
The approval meeting, which was aired publicly on the FDA’s website saw GW Pharmaceuticals present results of three randomized, controlled clinical trials and an open-label extension study. According to a statement, results of the study showed a significant decrease in the frequency of seizures in patients suffering from both targeted diseases. Adverse effects were mild or moderate, the company also noted in their statement.
“We are pleased by the Advisory Committee’s unanimous recommendation to approve Epidiolex, which would provide an important treatment option for patients with LGS and Dravet syndrome, two of the most severe and treatment-resistant forms of epilepsy,” commented Justin Gover, GW’s Chief Executive Officer in a statement. “This favorable outcome marks an important milestone in our company’s unwavering commitment to address the significant unmet need for patients with LGS and Dravet syndrome and our resolve to study Epidiolex under the highest research and manufacturing standards. We look forward to our ongoing discussions with the FDA as it continues to review the Epidiolex NDA."
As of Thursday afternoon, GW stock is up $0.94 per share, an increase of 0.70 percent. The company currently trades at $134.33 per share.
Namaste To Uplist To The TSX-V
Gettin’ on up that hill is Namaste Technologies Inc. (CSE:N) (OTCMKTS:NXTTF), who announced on Thursday their receipt of conditional approval to uplist to the TSX Venture Exchange. The move is conditional on the company fulfilling certain requirements as outlined by the TSX-V in earlier negotiations. Namaste expects to continue to trade under the stock symbol “N.”
"We are very pleased to have received conditional approval from the TSXV, commented company CEO Sean Dollinger in a statement. “We're also proud to have been accepted as a Tier 1 issuer. We believe that this listing will provide the company and its shareholders with many advantages, including greater visibility and enhanced market access for Canadian and international investors.”
Kush Bottles Offers Free Shipping For Online Orders; Expands Client Service Team
Going digital is Kush Bottles, Inc. (OTCQB:KSHB), who announced on Thursday they will offer free shipping on all online orders in the domestic United States. Moreover, the company added in-market representatives to their team to boost their customer experience. Due to their continued growth, Kush Bottles hopes to streamline their processes by incentivizing customers to order online.
"Cannabis businesses are looking for a partner that is both competitive on pricing and continually improving to create better value,” said Nick Kovacevich, CEO of Kush Bottles in a statement. “Our deep product inventory, which now contains over 2500 SKUs, as well as our expert knowledge of the complex regulations that govern the cannabis industry, can help increase our customers' profitability by improving their supply chain efficiency,"
Cynthia Nixon Calls Marijuana Reform A Racial Justice Issue
Former Sex and The City star Cynthia Nixon has made marijuana reform a central platform in her run to unseat Andrew Cuomo (D) as Governor of New York. As Leafly recently reported, the Democratic candidate originally made a case for legalization based on revenue, before coming out with her current thoughts.
“There are a lot of good reasons for legalizing marijuana, but for me, it comes down to this: we have to stop putting people of color in jail for something that white people do with impunity,” Nixon said in a video she recently posted on YouTube.
Statistics for the state of New York show that black people make up 48 percent of those arrested for low-level marijuana infractions, while Latinos account for 38 percent, and white people nine percent, according to Leafly.
Advocacy groups support Nixon’s assertion, with Kassandra Frederique, New York state director for the Drug Policy Alliance telling Leafly, “White people do get arrested for marijuana, but what we’re saying is you’re more likely to get arrested for marijuana if you’re black or Latino.”
Nixon’s full video discussing marijuana reform and racial disparity can be seen below: