June 26 was a groundbreaking day for the US cannabis industry.
That’s the day the FDA, the US agency responsible for approving new drug candidates, approved its first-ever cannabis drug.
The first-ever medical treatment derived from a marijuana plant will hit the U.S. market in a few months after regulators on Monday gave the epilepsy treatment the green light.
The Food and Drug Administration approved GW Pharmaceuticals Plc’s Epidiolex to treat two rare forms of childhood epilepsy, according to a statement from the agency. The liquid is made from a compound in the marijuana plant called cannabidiol, a different chemical from tetrahydrocannabinol, or THC, which gets users high.
US cannabis stocks just had their best day of the year after a game-changing shift in US cannabis policy hit the Street. If I’m correct, the stage is now set for a huge rally that could send cannabis stocks deep into a new all-time high.
On April 13, the US cannabis index jumped more than 15%, the largest one-day gain of the year, on news of a huge shift in US cannabis policy.
In news that completely shocked the cannabis industry and stocks, President Trump promised to support legislation to protect state cannabis rights.