Cannabis stocks tumble as FDA chief’s departure leaves CBD regulation in limbo

Cannabis stocks extended their early losses Wednesday, as investors weighed the surprise news that the head of the U.S. Food and Drug Administration has resigned, leaving the fate of the cannabis ingredient CBD in regulatory limbo.

The FDA has already approved a CBD-based medication aimed at treating a very severe type of childhood epilepsy, but that was based on traditional clinical trials, a lengthy and expensive process that companies would prefer to avoid. He noted that Gottlieb has said the FDA was open to alternative pathways to CBD approval, including allowing only low concentrations in food and drinks, and keeping high concentrations for drugs to encourage further research.

Elsewhere in the sector, Aurora Cannabis Inc.’s U.S.-listed shares ACB, -2.20% ACB, -1.02% were down 2.7%, shedding some of their prior-day gains made after Cowen named it a Top Pick in the cannabis sector.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cannabis stocks mostly higher after FDA head promises April talks on CBD regulationCannabis stocks were mostly higher Thursday, as investors digested the latest earnings reports from the sector and comments from the head of the U.S. Food and Drug Administration on plans for regulation of CBD. I'm all about $NBEV at 5.00 :)
Source: MarketWatch - 🏆 3. / 97 Read more »

Martha Stewart to advise cannabis companyCanadian cannabis company Canopy Growth is adding Martha Stewart as an advisor. She'll help the company develop CBD and hemp products for people and pets. Convicted felon I see you MarthaStewart
Source: CNN - 🏆 4. / 95 Read more »

Regulators are gearing up to decide how to handle the $1 billion CBD industry, whose lotions and cookies currently exist in a legal hazeAt a congressional hearing this week, regulators said they planned to discuss their approach to policing the $1 billion CBD industry in April.
Source: BusinessInsider - 🏆 729. / 51 Read more »