By Stephen L Kanaval via Iris.xyz

Over the last few days it has not been a challenge to find a cannabis stock of some interest. As legalization looms large in Canada, the sector is reaching a fever pitch. So, many investors are looking for companies that will be big players in the industry long after the dust settles. Cronos Group Inc. (CRON [NSD] – $11.86) has bounced significantly since late summer. The stock price has increased more than %100 going from $6.15 on August 15th to now well above $13.00.

One of the most recent catalysts for CRON has been an announcement that the company will be partnering with Aleafia Health Inc. (ALEF: CA [CDX] – $3.10 0.71 (29.71%) to study insomnia and daytime sleepiness. Global insomnia therapeutics is big business valued at more than $2.18 billion in 2016 with a forecast CAGR of 5.3%.

“For far too long, the answer to a patient’s sleeping disorder or chronic pain has been a prescription and a bottle of pills,” said Aleafia Chief Medical Officer Dr. Michael Verbora. “There is mounting evidence of the risks of prescription sleeping aids including worsening mental health and increased risk of dementia. This study may in part point to medical cannabis as an alternative to harmful prescription drugs.”

Unlocking the Healing Properties of CBD More Rapidly

This end result of this study – a type of biopharmaceutical innovation – would go down the road of GW Pharmaceuticals  (GWPH [NSD] – $166.52 ) and Epiodiolex versus some of the other names soaring in the industry right now like Aurora Cannabis  (ACBFF [OTCQX] – $9.47) and Canopy Growth Corp. (CGC [NYE] – $52.50).

Click here to read the full story on Iris.xyz.

Subscribe to our free daily newsletters!
Please enter your email address to subscribe to ETF Trends' newsletters featuring latest news and educational events.