With news in just last week that the
Republican-controlled House of the Texas Legislature has approved cannabis oil
for medicinal purposes, as the passage of Senate Bill 339, known as the “Texas
Compassionate Use Act,” means Governor Greg Abbott is now within striking
distance of allowing dispensing organizations to obtain a license to dispense
low-THC cannabis in the state, the medical marijuana industry is once again
buzzing about the upper limit potential of this sector. Passage of SB 339 would
make Texas the latest addition to a growing list of states in the U.S. passing
similar landmark medical marijuana (MMJ) legislation, spurred on by mounting
scientific evidence for cannabis-based therapies being able treat the
clinically unmet needs of numerous types of patients, particularly in cases of
intractable epilepsy, where conventional antiepileptic drugs have failed.
The Texas bill’s passage could be big
news for a market that was already estimated to be running around $2.7 billion
last year here in the U.S., according to data from cannabis industry investment
and research firm, ArcView Market Research. ArcView calculated a 74% jump last
year over 2013’s figures for what is, according to their broader analysis, now
the fastest growing industry in the entire country. Projections for this year
are in the neighborhood of $3.5 billion, a figure expected by ArcView to rise a
whopping 208% or more by 2019, as more and more states pass not only similar
compassionate care laws decriminalizing some form or other of medical cannabis,
but perhaps even going for blanket legalization like in Colorado, which raked
in some $53 million in tax revenues during their first year of legalization.
One of the more exciting companies in
this fast-growing sector is GrowBLOX Sciences (OTCQB: GBLX), which has
developed a host of key technologies needed to thrive in this yet-nascent
industry. GrowBLOX Sciences has organized itself into three distinct divisions
in order to pursue the company’s bold operational goal set, which spans big data-driven
clinical R&D, as well as cultivation using their proprietary GrowBLOX™
Technology suite of systems.
The company has even organized a
commercial product development division for targeting dispensaries and various
other end markets. You can take a look at the company’s website by visiting
www.growblox.com
The company’s GB Sciences division,
which focuses on scientific validation and new drug discovery, plans to use
certified raw materials matured in the GrowBLOX™ cultivation chambers to
develop novel cannabis-based therapies. Leveraging a data-driven
biopharmaceutical development approach of running therapies through accelerated
human phase IV clinical trials is visionary. This “fast-track” process will be
supplemented and accelerated by the company’s proprietary Patient-Reported
Outcomes (PRO) smartphone app, which will also enhances the company’s ability
to test and refine the chemical ratios of active ingredients. Investors should
watch GBLX closely. The long-term patient data that the company will be
aggregating via their patient-reported outcomes based smartphone app will also
help improve the company’s predictive treatment algorithm approach to therapy
development. Harnessing this data is one of the key advantages the company will
have in the long run, something that will give GBLX a significant edge over
competitors.
The current players in the medical
cannabis space are just now scratching the surface of the opportunities that
are manifesting at every turn when applying a comprehensive scientific approach
to this booming cannabis market.
Investors will want to keep a close
eye on companies like GrowBLOX Sciences. As the industry evolves into more than
just cultivating a plant, it will be the new technologies, as well as the data
that emerges from this, that will be of enormous value just around the corner.
For more information, visit
www.gbsciences.com
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