Pot Stock Bull Market Primed for Even More Growth as Major Markets Legalize

Pot Stock Bull Market Primed for Even More Growth as Major Markets Legalize
Pot Stock Bull Market Primed for Even More Growth as Major Markets Legalize

CannabisNewsWire Editorial Coverage: With the looming legalization of marijuana in California slated for next month and Canada preparing for legal recreational use July 2, 2018, it is no surprise the North American Marijuana Index is at record highs, up roughly 67 percent since late October. The recent $22.6 billion forecast for the U.S. market by 2021 from leading analyst Arcview, combined with conservative estimates from Canada’s Parliamentary Budget Office of around $6.2 billion by next year for the Canadian market, is helping to fuel a massive influx of capital into the sector. Particularly attractive are innovators like biopharma developer InMed Pharmaceuticals, Inc. (CSE:IN) (OTCQB:IMLFF), which has a compelling biosynthesis technology that will allow the company to manufacture bio-identical cannabinoids of every naturally occurring ones in-house, without the need for plant feedstock. Robust, high-yield and cost-effective biosynthesis technology like this could eventually acquire substantial market share that is currently held by some of today’s leading medical marijuana producers, such as Aurora Cannabis, Inc. (TSX:ACB) (OTCQB:ACBFF), Canopy Growth Corp. (TSX:WEED) (OTC:TWMJF), Aphria, Inc. (TSX:APH) (OTC:APHQF), and Hydropothecary Corp. (TSX.V:THCX) (OTC:HYYDF).

With a market cap of around $102 million and a strong pipeline of novel, rapidly developing cannabinoid-based drug therapies, shares of InMed Pharmaceuticals, Inc. (CSE:IN) (OTCQB:IMLFF) are up well over 450 percent year to date. The company’s biosynthesis process, while revolutionary in the application of manufacturing cannabinoids, is fundamentally based on a tried and tested methodology used extensively throughout multiple industrial applications. For example, bacteria or yeast-based systems are currently employed to make pharmaceuticals like biosynthesized insulin used daily by millions of diabetics worldwide. The only thing that may be more attractive to investors than the company’s potentially disruptive cannabinoid biosynthesis technology is the actual drug development pipeline, which currently spans areas from dermatology (INM-750 for Epidermolysis Bullosa) and ocular (INM-085 for glaucoma), to the enormous pain management market (INM-405).

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