CORAL GABLES, FL / ACCESSWIRE / November 29, 2018 / The healthcare industry is evolving but isn't without its hurdles. While doctors and researchers work to find cures and solutions to both common and uncommon ailments, some barriers in the market end up costing patients hundreds and even thousands of dollars.
According to CNBC, Americans spend a combined total of about $3.4 trillion on medical care every year -- that's nearly $10,500 per person per year. And, in 2016, a U.S. Census Bureau report revealed, 91.2 percent of the U.S. population had health insurance, though the cost was still too high for some. With investors looking at potential safe haven industries, healthcare and biotechnology have come up in the latest round of conversations. Thursday we're looking at four health and biotechnology stocks to watch.
Premier Health Group, Inc. (PHGRF) (PHGI) has engaged discussions with Licensed Producers under the Access to Cannabis for Medical Purposes Regulation, other licensed medical cannabis companies and government officials in order to establish a framework for both patient and physician education. Furthermore, the Company is actively recruiting additional physicians for its existing clinics and a cannabis focused physician that is licensed in Canada.
This move could prove to be and exciting one for Premier. The Canadian medical cannabis clinic market is estimated to be worth approximately $2.35 billion by 2025. With this in mind, the company said that it expects to provide additional updates on acquisitions in Q4-18 and Q1-19.
Premier Health Group, Inc. (PHGRF) (PHGI)'s subsidiary, HealthVue is focused on developing proprietary technology to deliver quality healthcare through the combination of connected primary care clinics with telemedicine and artificial intelligence. The company currently has an ecosystem of over 100,000 active patients and have plans to rapidly increase that number both domestically and internationally. This is compared to Canopy Growth's reported 84,400 registered patients at September 30, 2016. Additionally, in its latest financial report, Aurora Cannabis reported that it had 67,484 active registered patients.
Alliqua BioMedical, Inc. (ALQA) along with TO Pharmaceuticals LLC announced plans this week for Alliqua to spin off its AquaMed Technologies, Inc. subsidiary, which develops, manufactures and markets high water content, electron beam cross-linked aqueous polymer sheet hydrogel products and merge it with TOP, creating a new public bio-pharmaceutical company to be called TO Pharma, focused on discovering, developing and commercializing novel therapeutics based on TOP's proprietary cannabinoid product platform in a number of FDA-regulated clinical indications and in select OTC markets.
Seth Yakatan, CEO of TOP, noted that ''We are excited to combine TOP's technology and research with the unique capabilities of AquaMed's hydrogel technology, to form a truly global pharmaceutical company. We are excited and confident that the anticipated development of the combined business should generate significant shareholder value.''
Alliqua BioMedical, Inc. (ALQA) through its AquaMed subsidiary, can provide a custom manufacturing solution to partners in the medical device; cosmetics; and OTC industry, utilizing its proprietary hydrogel technology.
Tonix Pharmaceuticals Holding Corp. (TNXP) is a clinical-stage biopharmaceutical company focused on discovering and developing pharmaceutical products to treat serious neuropsychiatric conditions and biological products to improve biodefense through potential medical counter-measures.
This morning Tonix announced that it has received the official minutes from the October 29th Breakthrough Therapy Type B Clinical Guidance meeting with the U.S. Food and Drug Administration (FDA). The minutes are consistent with the preliminary guidance the Company received at the meeting and confirm FDA's acceptance of the new Phase 3 ''RECOVERY'' study design.
The RECOVERY study will be a double-blind, randomized, placebo-controlled study of Tonmya 5.6 mg over 12 weeks of treatment for civilian and military-related PTSD in approximately 250 participants across approximately 25 clinical sites.
Shares of Tonix took off during early market hours as shares traded as high as $9.
Adial Pharmaceuticals, Inc. (ADIL) is a clinical-stage biopharmaceutical company focused on the development of treatments for addictions. The Company's lead investigational new drug product, AD04, is a genetically targeted therapeutic agent for the treatment of alcohol use disorder (''AUD'').
Adial announced that it has established a Scientific Advisory Board (SAB) and has appointed Dr. Giovanni Addolorato, a leading global expert in the field of alcohol use disorder (AUD), as its first member and Chairperson. The SAB will help to guide the Company's strategy and advance AD04, its lead therapeutic agent for AUD, with Phase 3 trials expected to commence in the first half of 2019.
Shares were briefly halted this morning and upon trading, reached highs of $3.39 before 11AM.
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