FDA Advisory Committee Meeting is 4/19/18
If they give Epidiolex the thumbs up tomorrow, there is a 90% chance (based on previous drug candidates) that the FDA will grant it final approval on 6/27/18
Since Epidiolex is MJ-derived CBD, this will be the 1st time that the federal government admits that the plant-based form of MJ has medical value
This decision means that CBD will no longer be illegal
The FDA/DEA will automatically be required to Reschedule CBD from Schedule I (federally illegal) to a lower Schedule or remove it from the Schedule of Controlled Substances entirely
Epidiolex is requesting Schedule 4 or 5, so that is likely where CBD will land, even though there is no evidence of risk abuse or dependence risk -- it is better for pharma companies for it to remain on the Schedule if possible
The other big ramification of the government admitting that CBD has medical value is that now discussions of MJ being moved to Schedule 2 should pick up
I say this because the FDA has already approved 3 different synthetic THC medications, so they have basically admitted that THC has medical value (nausea, appetite)
If the FDA now admits that CBD and THC both have medical value, and those are the dominant constituents of the MJ plant, then logically it follows that the MJ plant has medical value and should be rescheduled to Schedule 2/3, thereby becoming federally legal
Discussions in the media surrounding rescheduling MJ should create bigtime interest in the MJ sector
So those growing impatient with the MJ side of things just need to hang in there a little bit longer
If history is any guide, there is typically an anticipatory runup before significant catalysts in the MJ sector that have a date attached to them, so the potential is there for a strong run starting sometime in May heading into the FDA approval date
SGMD is well positioned to go parabolic when the sector becomes HOT once again
