Biotech companies are refusing to be bested by recreational weed. Cannabis has become the latest buzzword. All summer it has been all anyone could talk about. Headlines were dominated by US states’ continued legalization and Canada’s historic Bill C-45.
Now, with the launch of the recreational market underway, everyone from alcohol distribution companies to beauty industry officials are trying to tunnel their way into the weed marketplace. Biotech companies, however, don’t seem to be letting the hype overtake their own success.
Whether they deal with marijuana or not, these three companies are not letting this rumored multibillion-dollar industry slow them down. Here are three noteworthy biotech companies adamantly rejecting the idea of recreational weed outshining them.
GT Biopharma, Inc. (GTBP)
Market Cap: $104.43 Million
GT Biopharma, Inc. is a biopharmaceutical company in the clinical stages. The company operates out of the District of Columbia and is primarily focused on creating and marketing immune-oncology products for patients. These include OXS-1550, a protein drug generated to target cancer cells, and OXS-3550, a protein conjugate meant to hone in on CD33+ malignancies.
Last month, the company announced via press release that it had inked a Material Transfer Agreement (MTA) agreement with a top pharmaceutical company. The terms of the MTA state that the pharmaceutical company will have to provide GT Biopharma’s leading researcher, Dr. Daniel Vallera, with a large quantity of its multibillion-dollar oncology drug for his study. This breakthrough is a big step forward for the company’s OXS-1550 program.
The program centers around one of the most innovative oncology drugs of the same name. After targeting cancer cells, OXS-1550 binds to them and ultimately eliminates them from the body by installing its cytotoxic diphtheria toxin payload and halting protein synthesis. According to Dr. Vallera, this widely prescribed drug from the big name pharmaceutical company could have a much greater effect on patients when coupled with GT Biopharma’s OXS-1550.
INSYS Therapeutics, Inc. (INSY)
Market Cap: $556.52 Million
INSYS Therapeutics, Inc. is a pharmaceutical company that specializes in improving patient care via cannabinoids. INSYNS is backed by a team of esteemed and driven scientists that are focused on delivering leading cannabinoid research. Currently, the company markets a sublingual fentanyl spray called SUBSYS, meant to help alleviate pain in opioid-tolerant cancer patients.
Additionally, their oral solution, SYNDROS, has been formulated in order to help offset nausea in cancer patients receiving chemotherapy and extreme weight loss that effects AIDS patients. The company has completed a study for an oral cannabidiol solution meant to treat pediatric epilepsy. Currently, the Arizonian company is trying to help eliminate the opioid epidemic in the US by attempting to eliminate dependency on that drug.
CARA Therapeutics, Inc. (CARA)
Market Cap: $602.33 Million
CARA Therapeutics, Inc. is a clinical-stage biopharmaceutical company. It focuses on developing and marketing medicines that target kappa opioid receptors to treat pruritus and pain. Operating out of Stamford, Connecticut, the company is currently working with numerous clinical trials in different phases to help patients suffering from pruritus and kidney disease associated with the illness.
CARA recently announced via press release that it had dosed its first patient in the second Phase 3 efficacy trial of KORSUVA, an injection administered to hemodialysis patients suffering from kidney disease as a result of their pruritus. Their trial is set to launch globally by enlisting patients from the US and overseas in Europe and countries along the Pacific Rim region. Currently, there are no official therapies that meet the requirements neither in the US nor in the EU, but the FDA has recently granted Breakthrough Therapy for KORSUVA.
With their industry know-how, these companies aren’t being shaken up by the so-called ‘rookies’ making a splash on the market. Their scientific research and loyal backing points to steady returns as more states decide to legalize. Investors should note the years of experience under the belts of these companies.
Esteemed advancements in both technology and cannabis research have allowed these companies to create an impressive portfolio and potential for investors. This is especially the case as legalization could eliminate any limiting regulations that were previously in place.
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