Commerce City, Colo-based FusionPharm Inc. (OTCPINK: FSPM) makes and sells cultivation containers for marijuana growers.
Its stock volume and share value have been on a downward trend as of late, but there is no news indicating why this is the case. In fact, the company has been churning out a spate of positive news releases since the beginning of the year.
Doubled Manufacturing Square Footage
On Feb. 13, FusionPharm announced it had more than doubled its Denver Colorado area manufacturing facility, adding 10,000 additional square feet of manufacturing space. That’s because the company said that management felt that its existing manufacturing space was inadequate to handle current and future order flow effectively. The new facility is adjacent to the company's existing facility.
The company added that additional manufacturing facilities are planned for the east and west coast of the United States in 2014.
$1-Million Cash Infusion
Then on Feb 25, FusionPharm announced that it has completed a $1million round of equity funding. It said that management intended to use the funds to complete outfitting of its recently expanded manufacturing facilities, provide for construction of new sales centers in key markets and to provide operations funding for acquisition of key personnel.
On Mar. 13, FSPM’s share price closed at $6.77, down 53 cents from its closing price of $7.30 the previous day.
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The London-based pharmaceutical share volume could be surging on the heels of a recent announcement the company made that the Food and Drug Administration (FDA) has granted orphan drug designation for Epidiolex®. This is GW’s product candidate that contains plant-derived Cannabidiol (CBD) as its active ingredient, for use in treating children with Lennox-Gastaut syndrome (LGS), a rare and severe form of childhood-onset epilepsy.
Epidiolex is an oral liquid formulation of a highly purified extract of CBD, a non-psychoactive molecule from the cannabis plant.
In November 2013, GW announced that the FDA had granted orphan drug designation for Epidiolex in the treatment of Dravet syndrome.
Following the successful follow-on offering completed in January 2014, GW intends to advance a full clinical development program for Epidiolex for the treatment of both LGS and Dravet syndromes. Working with leading pediatric epilepsy specialists in the United States,
GW expects to commence an initial Phase 2 clinical trial for Epidiolex in the second half of 2014. This trial, if successful, is expected to lead to Phase 3 pivotal trial programs in both Dravet syndrome and LGS intended to support New Drug Applications with the FDA.
On Mar. 13, GWPRF’s share price closed at $6.74, down 12 cents from its closing price of $6.86 the previous day.
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Finally, Hemp Inc.'s (OTCPINK:HEMP) wholly owned subsidiary, the Industrial Hemp and Medical Marijuana Consulting Co. Inc., recently signed an agreement with Greene Concepts Inc. (OTC:LKEN) to provide professional consulting services for its new Hemp Web portal.
The thrust of the consulting agreement will center on Hemp’s subsidiary helping source hemp-based products, including hemp-based ink, hemp paper and other industrial hemp related products for Green Concept’s “hemp-centric” website, the Hemp Exchange (http://www.globenewswire.com/newsroom/ctr?d=10070361&l=1&a=http%3A%2F%2Fhemp-x.com&u=http%3A%2F%2Fhemp-x.com%2F).
Access to Many Hemp Products
“Hemp, Inc. has been evaluating products in this industry for the last 5 years,” said Hemp’s CEO said Bruce Perlowin. “We have a vast resource of companies that produce hemp products that can enhance the Hemp Exchange portal and we have close relationships with these companies,” he added, in a written statement.
This is just the latest move by Hemp to expand its footprint into various sectors of the vast legal-hemp/marijuana business.
Under terms of the proposed joint venture, Marijuana, Inc. will assist VaporBrands with the development and distribution of specialized marijuana vaporizing products to be sold primarily through existing medical marijuana dispensary networks.
In addition, VaporBrands and Marijuana, Inc. have agreed to research, develop and distribute vaporizer products specifically for the use of Hemp Oil in natural medicine. Marijuana, Inc. has also agreed to assist VaporBrands in expanding the retail distribution of its current and future electronic nicotine based cigarette products.
Mar. 13, HEMP’s share price closed at 12 cents, unchanged from yesterday’s close.
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