Marijuana Stocks: Cara Therapeutics Inc (CARA) Stock Soars on FDA Breakthrough Therapy Status – Investorplace.com

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Cara Therapeutics Inc (NASDAQ:CARA) stock was flying high on Friday following good news from the U.S. Food and Drug Administration (FDA).

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The good news that is sending CARA stock up today is the awarding of “Breakthrough Therapy” status to I.V. CR845. I.V. CR845 is Cara Therapeutics Inc’s treatment for moderate-to-severe uremic pruritus in chronic kidney disease patients undergoing hemodialysis.

Cara Therapeutics Inc’s I.V. CR845 is being awarded the Breakthrough Therapy status so that it can be developed more quickly. This is done for treatments that have evidence that they will work better than current methods.

Cara Therapeutics Inc’s drug has the evidence to back it. A Phase 2/3 clinical trial of I.V. CR845 saw the drug meet both its primary and secondary endpoints. This includes a 68% reduction in worse itching scores and a 100% improvement to quality of life.

“The FDA’s decision to grant Breakthrough Therapy designation is recognition of both the significant unmet medical need among CKD patients with UP and the potential of I.V. CR845 to address it,” Derek Chalmers, President and CEO of Cara Therapeutics Inc, said in a statement. “We have already initiated our Phase 3 program and look forward to working closely with the FDA to bring this potential new treatment option to hemodialysis patients as quickly as possible.”

Cara Therapeutics Inc’s next Phase 3 study will include 240 hemodialysis patients with CKD-associated pruritus that have already taken part in its previous studies. The goal will be to determine the long-term safety of the drug.

Marijuana stocks, such as CARA, have been gaining attention of late. This is due to regulations around the drug becoming more relaxed.

CARA stock was up 9% as of noon Friday and is up 134% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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First Marijuana Stock ETF Is Plummeting – The Fresh Toast – The Fresh Toast

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Two months ago, the Toronto Stock Exchange announced it would begin trading the world’s first marijuana exchange-traded fund, allowing investors to buy shares of a portfolio of marijuana-related stocks. News of the Horizons Marijuana Life Sciences ETF made headlines around the world and the first marijuana stock was heralded as great cannabis investment.

Within a week of its initial offering priced at $10, the shares — using stock ticker HMMJ — soared 18 percent and cannabis industry insiders took this as a sure sign of the market’s maturity and growth potential.

Since then, the shares have fell back down to earth, with the price hovering lately somewhere near $8.50, which is roughly a 16 percent drop from the open price.

What is an EMT?  Here is how NASDAQ defines it:

Exchange Traded Funds are funds that track indexes like the NASDAQ-100 Index, S&P 500, Dow Jones, etc. When you buy shares of an ETF, you are buying shares of a portfolio that tracks the yield and return of its native index. The main difference between ETFs and other types of index funds is that ETFs don’t try to outperform their corresponding index, but simply replicate its performance. They don’t try to beat the market, they try to be the market. ETFs have been around since the early 1980s, but they’ve come into their own within the past 10 years.

So essentially, investors own more than a dozen cannabis stocks through a single investment fund, removing the risk of a bet on one company.

Will there be an industry rebound? Has HMMJ hit bottom?

As for the industry as a whole, Marijuana Business Daily‘s “Marijuana Business Factbook 2017” estimates legal cannabis sales in the U.S. to hit between $5 and 6 billion this year and more than $17 billion by 2021. Cowen &

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3 Pot Stock Investments to Watch Now – Money Morning

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Pot stock investments remain speculative since marijuana is still illegal under U.S. federal law. Plus, the Trump administration has been vague on its cannabis policies, leaving investors in the dark.

However, 29 states and the District of Columbia have legalized medical marijuana. And in the November 2016 elections, residents of Massachusetts, California, Maine, and Nevada all voted to legalize recreational marijuana.

And while the Trump administration has been vague at the federal level, President Donald Trump still seems to be a proponent of state marijuana laws. After the rest of the country legalizes medical cannabis, recreational legalization won’t be too far behind.

This will remove the stigma some investors have of investing in marijuana stocks. That will create more demand for pot stock investments, which can send prices skyrocketing.

That’s why today we wanted to provide Money Morning readers with a pot stock watch list as marijuana legalization sweeps the country.

And the first marijuana stock on our watch list is one of the safest pot stock investments on the market to own right now…

Pot Stock Investments to Watch, No. 3: GW Pharmaceuticals

GW Pharmaceuticals Plc. (Nasdaq ADR: GWPH) has consistently been one of the best marijuana stocks to watch for several years running.

There are two important reasons why GW Pharmaceuticals is a top-quality pot stock. The first is that it is traded on a major index, which has stricter regulations in terms of being listed than over-the-counter (OTC) markets.

Most pot stocks trade on OTC markets.

Video Which States Will Legalize Marijuana Next?

The second reason that GW could be a good play is its several major marijuana-based drugs in development.

GW’s drug, Sativex, is already out in approximately 30 countries (not the United States) for the treatment of spasticity related to multiple sclerosis (MS). They

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With New Nevada Marijuana Laws on July 1, Watch These Three Marijuana Stocks – Money Morning

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On July 1, 2017, Nevada will legalize the use and sale of recreational marijuana, which could be a catalyst for long-term gains for three marijuana stocks.

We’ll get to those three cannabis stocks in just a bit. But first, we wanted to make sure Money Morning readers know all the important details of Nevada’s new marijuana laws. You see, these new laws could inject hundreds of millions of dollars into the Nevada marijuana industry…

What to Know About Nevada’s New Marijuana Laws

Nevada isn’t just legalizing pot, it’s also changing three laws surrounding marijuana.

First, according to the Reno Gazette Journal, there will be a 15% tax on cultivation (for marijuana producers) for both medical and recreational marijuana starting July 1. Additionally, there will be a 10% retail tax on recreational marijuana only.

The cultivation taxes collected by the state will go towards schools, while the revenue from recreational marijuana sales taxes will be put in the state’s rainy day fund.

From just this tax on recreational cannabis, Nevada is expected to generate more than $60 million in revenue over the next two years.

Second, new medical marijuana patients will also receive a break on the cost of medical marijuana cards. Currently, cards cost roughly $100 and expire after a year. Now, the cards will cost roughly $50 and be good for two years.

Reducing the cost of medicinal marijuana cards will make them more affordable for Nevadans.

The Best Pot Stocks: After months of research, we’ve found the most lucrative and fastest-growing legal pot stocks in America. And for a limited time, you can get all the details for free. Learn more…

Third, the other change in the Nevada cannabis laws deals with past convictions from when marijuana

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SEC Charges Poster Boy Of Pot Penny Stock Bubble With Fraud – Forbes