Usually a lot of the action is happening in the Canadian cannabis companies, however today there's a lot of movement in the U.S. markets.
Atlantic Alliance Partnership Corp (NASDAQ:AAPC)
Shares of Atlantic Alliance Partnership Corp are on our radar again today. Shares are up over 4% in early trading today, with the company currently trading at $10.75 per share. Last night in after-hours trading, shares of AAPC spiked to a high of $25 per share on low volume. Yesterday, Atlantic Alliance Partnership Corp. announced that the company has entered into a merger agreement with cannabis-focused real estate investment trust, Kalyx. Kalyx owns and operates nine commercial properties located in four states, Arizona, Colorado, Oregon and Washington State. This transaction provides a path for Kalyx to list on the NASDAQ making them the second cannabis focused REIT to trade publicly.
Insys Therapeutics, Inc. (NASDAQ:INSY)
Shares of Insys Therapeutics are up over 6.5% in early trading today, with the company currently trading at $11.38 per share. Insys reported Q1'17 financials this morning, and hosted a conference call to discuss. The street seems to be bullish on the company given the ongoing cannabinoid-based "compassionate use studies in subjects with refractory pediatric epilepsy." Other parts of the quarter were not so bullish:
"Net revenue for the first quarter of 2017 was $36.0 million compared to $60.4 million for the first quarter of 2016."
"Gross margin was 87% for the first quarter of 2017 compared with 92% for the first quarter of 2016."
Therapix Biosciences Ltd. (TASE:TRPX)(NASDAQ:TRPX)
Therapix Biosciences announced yesterday morning that the company has entered into an agreement to conduct a stage II clinical trial of THX-TS01 for Tourette Syndrome in Germany. As of midday trading, shares of TRPX are up over 0.7% on this exciting news, currently trading at $7.35 per share.
Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE)
Shares of Zynerba are down over 5% in early trading this morning, currently trading at $18.75 per share. This morning, Zynerba reported Q1'17 financial results. The company reported a net loss for the quarter of $7,259,021 vs. a net loss of $4,281,374 for the same quarter last year.
The best part about the companies on today's watchlist is that they're all accessible commission-free through Robinhood. We'll be sure to keep readers posted regarding any important industry developments. Be sure to subscribe to one of our free newsletters so you never miss an important update!
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