CFN Media Group posted an article highlighting Future Farm Technologies Inc (OTCMKTS:FFRMF) efforts and its place in the growing market for cannabinoids. The industry for cannabinoid-based pharmaceuticals is estimated to grow to over $50 billion by 2029 from $2 billion in 2020, as per Statista, led by growing interest among pharmaceutical firms. While Insys Therapeutics Inc. and GW Pharmaceuticals plc may be the most widely famous firms in the segment, many smaller firms have development-stage plans in the works.
Cannabinoid compounds, such as cannabidiol, have showed promise in treating several different underlying medicinal problems without any side effects of conventional pharmaceutical drugs. As per Google Scholar, there exists over 2,000 papers issued about Cannabidiol this year alone. Several firms have also become growingly interested in the therapeutic prospect for the CBD, as shown by 1,600 plus U.S. patents that are given mentioning CBD. For instance, GW Pharmaceuticals’ lead candidate Sativex® has been demonstrated to be effective in treating peripheral and central neuropathic pain, rheumatoid arthritis, as well as cancer pain in several randomized clinical studies and has far minimal side effects as compared to addictive opioids.
The conventional pharmaceutical market has largely driven clear of the cannabinoid-based market following the legal status of cannabis in the U.S. With several of these firms facing patent cliffs over the imminent years, and cannabis decriminalization taking hold across the United States, smaller firms with favorable clinical programs could record interest on the part of leading pharmaceutical firms seeking to expand their portfolios. CBDs are being studied for cure of several multi-billion dollar problems including psoriasis, epilepsy, inflammation, pain and Parkinson’s disease.
In the last trading session, the stock price of Future Farm jumped more than 37% to close the day at $1.31. The gains came at a share volume of 3.98 million compared to average share volume of 695,330.
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