Though cannabis is not but legal across the U.S., new technologies are currently opening doors to promising new applications of marijuana—and pharmaceutical corporations are gearing up for a future exactly where these possibilities could hit the industry, says Piper Jaffray.

The back story. In 2017 Canada legalized cannabis, but the road toward acceptance in the U.S. appears longer. The U.S. has taken a more patchwork strategy to marijuana legalization, with individual states making their personal regulations for now (and not constantly favoring legalization). 

But lots of investors, from institutions to consumer-staples giants and retailers are betting on a future in which the U.S. prohibition is lifted nationwide. And that suggests additional than just pot. Other goods like  CBD oil are already generating in-roads, and of course, provided that health-related marijuana is currently an accepted therapy in numerous locations, cannabinoid-primarily based drugsare another potential development location.

What’s new. Piper Jaffray’s Michael Lavery recently met with executives of Cellibre, a private cellular agriculture firm that employs tactics borrowed from medicine to enable labs to develop molecules from cell cultures. This is a promising technologies for marijuana simply because the cells “naturally replicate themselves and can build distinct molecules without having unnatural byproducts.” [Read more at Barron’s]