NetworkNewsWire Editorial Coverage: Changes in public opinion
regarding cannabis have greatly fueled the fire blazing under the
red-hot state-legalized marijuana market. A recent Gallup poll
shows that 60 percent of Americans now support the legalization of
marijuana1, while another report shows that marijuana
sales jumped an incredible 30 percent in North America in 2016 to
reach $6.7 billion2. While many investors are looking to
find profitable plays in this burgeoning market, continuing federal
restrictions make medical marijuana one of the safest investment
routes. Standout companies that present prime opportunities in this
space include India Globalization Capital, Inc. (NYSE MKT:
IGC) (IGC
Profile), Cara Therapeutics, Inc.
(NASDAQ: CARA), Zynerba Pharmaceuticals,
Inc. (NASDAQ: ZYNE), Cannabis Science Inc. (OTC:
CBIS) and Vitality Biopharma, Inc. (OTCQB:
VBIO).
India Globalization Capital, Inc. (NYSE MKT:
IGC) is currently readying four cannabinoid products for
medical trials, including a potential blockbuster treatment for
Alzheimer’s disease. Although there are about a dozen publicly
traded cannabis pharmaceutical stocks currently on the market, IGC
is the only one to have patent filings for a potential
cannabis-based Alzheimer’s breakthrough. Compared to its peers,
IGC’s market cap of just over $10.8 million begs the question of
whether the value of this innovator is under pegged. A look at the
broader market and the company’s developments provide further
insight.
Alzheimer’s, the most common cause of dementia among older
adults is a chronic neurodegenerative disease that progressively
destroys memory and cognitive skills. Alzheimer’s is the
sixth-leading cause of death in the United States and will cost the
nation an estimated $259 billion in 2017, according to information
from the Alzheimer’s Association3. The breakthrough
potential of IGC’s IGC-AD1 (Hyalolex), which targets the reduction
of beta-amyloid buildup in Alzheimer’s patients and lessen some of
Alzheimer’s worst symptoms, could be astronomical.
The accumulation of amyloid plaque on neurons in the brain is
believed to be the major cause of Alzheimer’s disease. IGC recently
acquired exclusive rights (http://nnw.fm/3QaWV) to its novel tetrahydrocannabinol
(THC)-based treatment for Alzheimer’s from the University of South
Florida, where research using an animal model showed the reversal
of amyloid plaque buildup. The lead investigator at the university
used cannabis extract on transgenic mice and discovered that the
cannabis extract actually reversed beta-amyloid accumulation. What
this indicates is a potential means of restoring memory function in
Alzheimer’s patients—a game-changing development indeed! IGC
expects to begin human trials this year.
Under the definitive license agreement with the University of
South Florida, IGC is the exclusive licensee of the patent filing
“THC as a Potential Therapeutic Agent for Alzheimer’s Disease,”
which claims the discovery of a new pathway in which low doses of
THC bind to beta-amyloid plaques and prevent them from aggregating
on neurons—the very process that is linked to causing cognitive
decline in Alzheimer’s patients. This new pathway offers exciting
potential in the treatment of Alzheimer’s, and, if the patent is
granted and proven, IGC will own the rights to it. Acquisition of
the patent additionally helps IGC protect its proprietary
formulation of IGC-AD1. The lead investigator at the University of
South Florida now helping IGC was featured on CNN by Dr. Sanjay
Gupta on the “Weed 3, The Marijuana Revolution,” available for
viewing at www.igcinc.us
In addition to IGC-AD1, the company’s other cannabis-based
products currently moving toward trials include Natrinol for the
treatment of cachexia in AIDS and cancer patients; Serosapse, which
addresses various Parkinson’s disease endpoints; and Caesafin,
which employs combination therapy to alleviate seizures in dogs and
cats. Other companies we have seen with this kind of cannabis based
runaway potential, have market capitalizations between $25 million
to $500 million as compared to IGC’s $10 million market cap.
When it comes to market value, the heavyweight of this group is
clinical-stage biopharmaceutical company Cara Therapeutics,
Inc. (NASDAQ: CARA), which has a market
cap of $506.1 million. Focused on the development and
commercialization of new chemical entities that are designed to
alleviate pain and pruritus through the selective targeting of
peripheral kappa opioid receptors, the company is developing a
novel, proprietary class of product candidates that target the
peripheral nervous system and have shown initial efficacy in
patients with moderate to severe pain without creating many of the
unwanted side effects that are typically associated with current
pain therapeutics. The company’s CR701 candidate is a cannabinoid
receptor agonist designed to reduce pain.
Perhaps most similar to IGC in terms of product candidates and
an early-stage pipeline is Zynerba Pharmaceuticals, Inc.
(NASDAQ: ZYNE), a clinical-stage pharmaceutical company
engaged in developing innovative transdermal synthetic cannabinoid
treatment for patients who have high unmet medical needs. As of
July 18, Zynerba’s market cap stood at $251.7 million – a far cry
above IGC’s market valuation. Zynerba’s development pipeline
includes two lead product candidates that are being evaluated in
five therapeutic indications. ZYN002 is the first and only
synthetic CBD and has been formulated as a patent-protected
permeation enhanced gel for transdermal delivery through the skin
and into the body’s circulatory system. It is currently in phase 2
clinical development in patients with refractory epilepsy,
osteoarthritis of the knee and Fragile X syndrome. The company’s
ZYN001 is a pro-drug of THC that facilitates transdermal delivery
through the skin and into the circulatory system by means of a
patch. A phase 1 clinical program for ZYN001 commenced in the first
half of 2017.
Another small-cap player – with a market cap of $120.2 million -
is Cannabis Science, Inc. (OTC: CBIS), a company
focused on developing cannabinoid-based medicines to provide
innovative treatment options for unmet medical needs, with an
immediate focus on treating cancer. The company is working with
leading experts to develop, produce and commercialize novel
therapeutic approaches to treat a variety of critical ailments,
from cancer and infections to age-related illnesses and
neurobehavioral disorders. The company’s current development
programs include CS-TATI-1, which will be targeted at both newly
diagnosed and treatment-experienced patients with drug-resistant
HIV strains and those that are intolerant to current therapies;
CS-S/BCC-1 for skin cancer; and CS-NEURO-1 for various
neurobehavioral disorders, including ADHD and anxiety.
Vitality Biopharma, Inc. (OTCQB: VBIO), another
medical marijuana company, is focused on applying the power of
cannabinoids to treat serious neurological and inflammatory
disorders and currently has a market cap of $40.2 million. VBIO is
developing proprietary cannabinoid prodrug pharmaceuticals that are
FDA- and DEA-compliant. The company believes oral cannabinoid
pharmaceuticals can help the full therapeutic potential of
cannabinoid medicines to be realized. Oral prodrugs allow for a
regulatory strategy that has a lower risk and is similar to
specialty pharmaceutical development. VBIO is leveraging existing
clinical studies that demonstrate the efficacy of cannabinoids in
treating inflammatory bowel disease, Nijmegen breakage syndrome
(NBS), multiple sclerosis, neuropathic pain and other disease
indications. The company has developed a new class of cannabinoid
prodrugs called cannabosides that can be targeted and limited to
the body’s gastrointestinal tract to prevent drug psychoactivity
and unanticipated side effects.
The spectrum of market value for these cannabis-based
pharmaceutical players’ swings across the board, and India
Globalization Capital has several aspects that may warrant a higher
valuation. While each of the above-named companies present an
opportunity to invest in the rapidly advancing medical cannabis
space, investors looking for an entry point through an undervalued
company may want to take a closer look at India Globalization
Capital, Inc. (NYSE: IGC).
Editorial Sources:
(1) Gallup http://nnw.fm/CPS7h
(2) Arcview http://nnw.fm/zE44Q
(3) Alzheimer’s Association http://nnw.fm/LpC8P
For more information on India Globalization Capital, please
visit: India
Globalization Capital (IGC) or http://www.igcinc.us
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