Business

LOS ANGELES- Algernon Pharmaceuticals Inc., a Canadian clinical stage pharmaceutical development company, has announced a non-brokered private placement aiming to raise $150,000. The offering comprises units priced at $0.075 each, with each unit consisting of one Class A common share in the company and one common share purchase warrant. These warrants allow the holder to ...

LOS ANGELES- Mind Medicine (MindMed) Inc., a clinical stage biopharmaceutical company, has reported promising results from its Phase 2b clinical trial of MM-120 (lysergide d-tartrate) in treating generalized anxiety disorder (GAD). The trial achieved its primary endpoint, with MM-120 showing significant improvements in the Hamilton Anxiety rating scale (HAM-A) compared to a placebo at Week ...

NEW YORK- New York's journey into the legal cannabis market has been fraught with challenges, marked by a series of setbacks including numerous lawsuits and regulatory hurdles. This tumultuous rollout has had a significant impact on the state's licensed cannabis growers, who now grapple with a surplus of unsold product and financial strain. Farmers across ...

NEW YORK-PharmaDrug Inc., a specialty pharmaceutical company, has recently provided a comprehensive update from CEO Robert Steen on their strategic acquisition of SecureDose Synthetics Inc. This move marks a significant step in PharmaDrug's ongoing efforts to research, develop, and commercialize controlled substances and natural medicines, including psychedelics and previously approved drugs. SecureDose Synthetics, a private ...

LOS ANGELES- MariMed Inc., a cannabis company with a multi-state presence, has announced the commencement of its cannabis product manufacturing and processing activities at its new facility in Mt. Vernon, Illinois. The move, despite encountering construction and regulatory challenges, signals the company's commitment to expanding its operations and product availability across the state, particularly with ...

LOS ANGELES- New Jersey's state cannabis market is witnessing a significant uptrend, both in sales and regulatory progress, as it matures into a robust industry. According to the latest report from the state’s Cannabis Regulatory Commission (CRC), licensed cannabis dispensaries in New Jersey achieved a record-breaking $206.2 million in sales for the quarter ending September ...

LOS ANGELES - In a notable expansion of its operations, Branded Legacy, Inc. announced on Tuesday the acquisition of Florida-based MariJ Pharmaceuticals, Inc., a company specializing in certified organic mobile extraction and production of CBD from industrial hemp. This strategic move, which was finalized on Monday, December 4, 2023, marks a significant milestone in Branded ...

Clearmind Medicine Inc. a biotech company at the forefront of developing novel psychedelic-derived therapeutics, has announced encouraging outcomes from its latest pre-clinical trial. The study, spearheaded by Professor Joseph Tam of The Hebrew University of Jerusalem, explored the efficacy of a groundbreaking treatment combination for obesity, metabolic disorders, and depression. This innovative trial utilized Clearmind's ...

LOS ANGELES- Clearmind Medicine Inc has announced the results of its pre-clinical trial involving a combination therapy, marking a significant step in the development of treatments for addictions, obesity, metabolic disorders, and depression. The trial evaluated the efficacy and safety of combining Clearmind's proprietary psychedelic treatment, MEAI, with SciSparc Ltd's Palmitoylethanolamide (PEA), an anti-inflammatory agent. ...

LOS ANGELES- The cannabis industry experienced a significant surge in sales on Green Wednesday, the day before Thanksgiving, marking it as a high-point in annual cannabis commerce. Jane Technologies reported recreational cannabis sales totaling an impressive $9,209,061.73 on November 22, 2023. This figure represents an 18.12% increase from the Green Friday sales of 2022, demonstrating ...

LOS ANGELES- October 2023 witnessed a modest reduction in medical cannabis sales in Arkansas, reaching $22.5 million, a slight decrease from the same period in 2022. This data, sourced from the state's Department of Finance and Administration and reported by Green Market Report, reveals a nuanced view of the state's cannabis market. Interestingly, Arkansas's medical ...

LOS ANGELES- Algernon Pharmaceuticals Inc., a Canadian clinical stage pharmaceutical development company, has announced a significant advancement in its research program. The company has signed a Letter of Intent (LOI) with Seyltx Inc., a U.S.-based drug development firm, to acquire Algernon’s NP-120 (Ifenprodil) research program. This partnership, valued at USD $2M in cash and a ...

LOS ANGELES- In the ever-expanding landscape of the cannabis industry, where green is not just a color but a thriving economic force, the question of taxation looms large. As states grapple with the complex task of regulating and taxing cannabis, a taxing dilemma has emerged, raising critical questions about fairness, sustainability, and the industry's long-term ...

LOS ANGELES-In an environment marked by regulatory complexities, companies in the emerging field of psychedelic medicine are cautiously progressing, acknowledging the challenges posed by the absence of federal legality. From stability testing milestones to financial disclosures, recent developments provide a tempered glimpse into the industry's trajectory. Red Light Holland's Methodical Advancements: Microdosing Capsules Undergo Rigorous ...

LOS ANGELES- Georgia's medical cannabis industry is taking significant strides with the Georgia Access to Medical Cannabis Commission awarding four additional business permits. This development brings the total number of licensed cannabis companies in the state to six, marking a crucial phase in the industry's growth. The latest permit recipients, as reported by Atlanta’s Fox ...

COLUMBUS, Ohio— In a defining moment for Ohio, residents went to the polls on Tuesday to cast their votes on Issue 2, a statewide ballot measure that has ushered in a new era of recreational cannabis legalization in the state. The measure, having been passed, now allows adults aged 21 and over to purchase and ...

CLEVELAND, Ohio – In Ohio, a momentous decision looms large on the horizon, transcending the scope of mere recreational cannabis decriminalization. The state's citizens are poised to exercise their voting rights on November 7, deliberating the ramifications of Issue 2, a pivotal ballot initiative. Champions of legalization posit that Ohio could recapture tax revenue currently ...

NEW YORK— RISE Dispensaries, a burgeoning cannabis retail chain under Green Thumb Industries Inc., proudly announced the inauguration of RISE Dispensary Sun City Center. Marking their 10th retail footprint in Florida and the 86th on a national scale, this dispensary is set to open its doors on Oct. 27. In commemoration of this milestone, RISE ...

LOS ANGELES- In a notable merger move in the psychedelic therapeutics landscape, Small Pharma Inc. has received the green light from the Supreme Court of British Columbia for its acquisition by Cybin Inc. This all-stock transaction, slated for completion around Oct. 23, will lead to Small Pharma's shares being delisted from the Toronto Stock Exchange. ...

NEW YORK — Recreational cannabis sales in New York have hit the $83 million mark from the onset of 2023 through September 29, based on the latest preliminary data provided by the state's cannabis regulatory body. This sales update was disclosed during a public meeting held by the New York Office of Cannabis Management (OCM) ...

NEW YORK— Following the implementation of the Cannabis Act in 2018, Health Canada's recently released "What We Heard Report" paints a complex picture of the nation’s adult-use cannabis industry. While the legalization of cannabis for adult use has made significant strides in its economic impact and curtailing illegal sales, several challenges lie ahead for businesses ...

LOS ANGELES-- 4Front Ventures Corp. a multi-state, vertically integrated cannabis operator and retailer, has publicized its recent procurement of a $10 million senior secured credit facility agreement. The agreement is with ALT Debt II, LP, an affiliate of the financial powerhouse, Altmore Capital. This strategic move comes as 4Front seeks to channel these funds into ...

DENVER — August witnessed Colorado's recreational cannabis market and its established medical marijuana industry reach a significant landmark, achieving over $15 billion in cumulative sales since the inauguration of the adult-use market in January 2014. This accomplishment is rooted in the state's Department of Revenue data, which reveals cannabis sales in August amounted to $132.4 ...

  NEW YORK — In a significant legal triumph, FSD Pharma Inc. a Canadian biopharmaceutical firm, received a favorable ruling from the Ontario Superior Court of Justice on Thursday against its former chief executive, Dr. Raza Bokhari. The conflict traces back to May, when an arbitration verdict mandated Bokhari to remit C$2.81 million to FSD ...

LOS ANGELES — In a significant push to bolster its nascent cannabis sector, the New Jersey Economic Development Authority (NJEDA) announced a $12 million grant award to 48 marijuana enterprises as part of the state's Cannabis Equity Grant Program. Originally, the plan was to allocate $250,000 grants to 24 businesses. However, with Governor Phil Murphy ...