The US marijuana index saw higher volume in April, while the Canadian one continued trending downward, according to data from the Marijuana Index.

The US index saw a 19-percent increase last month thanks in part to former Speaker of the House John Boehner’s announcement that he would be joining the advisory board of cannabis operator Acreage Holdings, reversing his past stance on the drug.

“Six constituents gained more than 20 [percent] and 10 companies overall gained more than 10 [percent],” the Marijuana Index wrote.

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According to the firm, the biggest gainers on the US index in April were General Cannabis (OTCQB:CANN) with a 96-percent return, and CV Sciences (OTCQB:CVSI) with a 60-percent return.

Over the border, the Canadian index didn’t fare as well during April. The Canadian index saw a 9-percent decrease, while 80 percent of its constituents operated in the red. This index is comprised of 24 constituents and covers a wide range of cannabis stocks.

Meanwhile, the overall North American Index, which is a combination of the two indexes, managed a 3-percent increase during the month.

“Canada’s stock market experienced mix results in April, with the S&P/TSX Venture Index, Canada’s leading small-cap index, decreasing 1.6 [percent],” said the Marijuana Index. “The average trading volume of constituents on the Canadian Marijuana Index decreased 16 [percent] in April.”

Two Canadian producers most active stocks in index

According to the Marijuana Index, April’s most active cannabis stocks were Canopy Growth (TSX:WEED) and Aurora Cannabis (TSX:ACB). The two Canadian licensed producers ended the month down.

GW Pharmaceuticals (NASDAQ:GWPH) was the most active American stock in the index. The company is working on an investigational cannabidiol (CBD) oral solution known as Epidiolex; it is aimed at treating seizures associated with Lennox-Gastaut syndrome and Dravet syndrome.

The company’s movement can be credited to its receipt of a unanimous recommendation for the approval of its New Drug Application from the Peripheral and Central Nervous System Drugs Advisory Committee of the US Food and Drug Administration. If approved, this would be the first cannabis-based treatment federally approved by the agency.

During April, two of the top cannabis ETFs available to investors saw little to no gains. The Horizons Marijuana Life Sciences Index ETF (TSX:HMMJ) increased in value by a marginal 0.98 percent, while the Evolve Marijuana ETF (TSX:SEED) decreased 1.9 percent, representing a C$0.33 loss for investors.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Revive Therapeutics Ltd. (“Revive”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce the appointment of Dr. Joel Moody, MD, MPH, DTM&H, as a medical and clinical advisor to the Company to assist in the expansion of clinical studies in Canada and the clinical data analysis on the ongoing U.S. Food & Drug Administration (“FDA”) Phase 3 clinical trial (the “Study”) to evaluate the safety and efficacy of Bucillamine in patients with mild-moderate COVID-19.

“We would like to welcome Dr. Moody as a medical and clinical advisor to our team and we look forward to his contributions in our ongoing FDA Phase 3 clinical study as well as expanding our COVID-19 studies in Canada,” said Michael Frank, CEO of Revive. “Dr. Moody’s experience in clinical epidemiology, data analysis and research are key to our FDA Phase 3 study as we gather clinical data from patients enrolled.”

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