Business

LOS ANGELES- In a recent development marking a leap in the medical application of ketamine, PharmaTher Holdings announced that the U.S. Food and Drug Administration (FDA) accepted the Abbreviated New Drug Application (ANDA) for its KETARX ketamine product. The target date for this priority original ANDA, under the 2022 Generic Drug User Fee Amendments (GDUFA), ...

LOS ANGELES- The cannabis industry has experienced unprecedented growth and transformation in recent years, driven by changing regulations and shifting consumer attitudes. As the market matures, cannabis operators are increasingly looking to streamline operations, improve efficiency, and position themselves for long-term success. One crucial strategy in achieving these goals is company-wide restructuring. However, this process ...

LOS ANGELES- Cybin Inc. (CYBN) announced the successful enrollment completion in its Phase 2 study of CYB003, a novel deuterated psilocybin analog, which is being assessed for potential treatment benefits in Major Depressive Disorder (MDD). The final, sixth cohort of the study has seen participants receive either a placebo or a 16mg dose of CYB003. ...

LOS ANGELES- In a significant stride towards revolutionizing treatments for mental health disorders, Enveric Biosciences disclosed that it has secured a pivotal patent from the United States Patent and Trademark Office. Granted on September 12, 2023, the U.S. Patent No. 11,752,130 titled "Carboxylated Psilocybin Derivatives and Methods of Using," pertains to Enveric's developing EVM301 Series ...

NEW YORK, NY–In recent days, cannabis stocks have been on an upward trajectory, buoyed by positive regulatory developments. This rally has sparked optimism among investors, particularly in the Canadian Licensed Producers (LPs) and U.S. Multistate Operators (MSOs) segments. The resurgence began following reports of a leaked letter from the U.S. Department of Health and Human ...

LOS ANGELES– In a significant move underscoring its commitment to fortifying its financial foothold, Canopy Growth Corporation, a player in the North American cannabis and consumer packaged goods sector, announced on Monday its entry into subscription agreements for a private placement offering. Strategic Financial Maneuver In an announcement made through a press release dated September ...

NEW YORK - Columbia Care Inc., a cultivator, manufacturer, and retailer of cannabis products in the U.S, has embarked on the next stage of its strategy to enhance its balance sheet, commencing with a private placement agreement to improve its financial stability and pave the way for further growth. A Structured Financial Initiative The New ...

LOS ANGELES- In an effort to revitalize the state's cannabis industry and bolster tourism in dormant urban areas, California assemblymember Matt Haney (D-San Francisco) has introduced legislation that may potentially reshape the existing cannabis marketplace. AB 374, a proposed bill that garnered substantial bipartisan support, seeks to empower local governments to license cafes where people ...

LOS ANGELES- In the state of Maine, the burgeoning adult-use cannabis sector is witnessing a significant uptick in sales, reaching a pinnacle in August with revenues exceeding $21 million, as per data released by the state's Office of Cannabis Policy. This surge is a testament to the steadily growing market, which is poised to eclipse ...

NEW YORK - In a pivotal move, the New York Cannabis Control Board has greenlit a comprehensive set of regulations that lays the foundation for a significant expansion of the Empire State's burgeoning cannabis industry. The regulations, enthusiastically approved by the Cannabis Control Board, meticulously detail the licensing and operational protocols for various facets of ...

NEW YORK-- In a significant move that could reshape the cannabis landscape in New York, state regulators voted on Tuesday to permit existing medical cannabis operators to apply for adult-use retail licenses. This decision potentially positions these operators to dominate what is anticipated to be one of the largest markets on the East Coast. The ...

LOS ANGELES–California is poised to become the third state in the nation to decriminalize the use of psychedelics, following the State Assembly's recent approval of a bill. This legislation would grant individuals aged 21 and older the right to possess and utilize limited quantities of natural psychedelic substances like psilocybin (found in hallucinogenic mushrooms), dimethyltryptamine ...

LOS ANGELES–California is poised to become the third state in the nation to decriminalize the use of psychedelics, following the State Assembly's recent approval of a bill. This legislation would grant individuals aged 21 and older the right to possess and utilize limited quantities of natural psychedelic substances like psilocybin (found in hallucinogenic mushrooms), dimethyltryptamine ...

LOS ANGELES-- In a strategic shift indicative of changing market dynamics, Tilt Holdings, a prominent Phoenix-based cannabis operator, has resolved to sever its ties with a cannabis partnership initiated with the Shinnecock Nation. A mere three weeks after divulging its intention to reassess the business arrangement, the firm has formally announced the sale of its ...

TORONTO — Mindset Pharma Inc. based in Toronto, is set to be acquired by the Japan-based Otsuka Pharmaceutical Co. via its American subsidiary. This all-cash deal, announced Thursday, is valued at about C$80 million ($59.15 million). The terms of the agreement denote that for every share held, Mindset shareholders will obtain $0.75 in cash. This ...

ATLANTA — Georgia's Access to Medical Cannabis Commission (GMCC) has given the nod to three additional dispensary locations, augmenting the availability of low-THC oil products for patients across the state. During the public meeting on August 23, members of the GMCC unanimously approved these new locations. One of the giants in the cannabis industry, Florida-based ...

LONDON — The Association of the Cannabinoid Industry (ACI), a key trade group in the United Kingdom, has voiced its concerns over the prolonged delay by the country's Home Office in establishing a clear regulatory framework for cannabidiol (CBD) products. CBD, a non-psychoactive compound derived from the cannabis plant, has been available on U.K. store ...

NEW YORK — In what could be described as the burgeoning movements within the psychedelics sector, Cybin , a clinical-stage biopharmaceutical firm, has announced its intention to acquire U.K.'s Small Pharma. This move sparks dialogue on potential shifts and consolidations anticipated in the industry. Under the agreed terms, Small Pharma shareholders are set to receive ...

LOS ANGELES — The U.S. cannabis industry, still in its nascent stages, witnessed notable shifts in 2023 with a projected reduction in states reaching the billion-dollar mark in retail sales, according to a comprehensive report by Cannabis Business Times. Eight states are expected to achieve this benchmark, down from nine in 2021. Traditional leaders like ...

Planet 13 Holdings, based in Las Vegas, has unveiled a substantial $48.9 million agreement to acquire the comprehensive cannabis enterprise of VidaCann, a Florida-based company. This acquisition encompasses a network of 26 medical cannabis dispensaries, marking a significant stride in the cannabis industry. The deal, composed of stock, cash, and debt components, has garnered unanimous ...

MONTGOMERY, Ala. — The road to medical cannabis access in Alabama remains blocked as a legal battle unfolds over the methods employed in selecting companies for the potentially lucrative licenses. In the heart of Montgomery County, Circuit Judge James Anderson firmly dismissed a plea from the Alabama Medical Cannabis Commission on Thursday. The request had ...

NEW YORK-- In a strategic move to diversify its portfolio, Tilray Brands, one of the world's largest cannabis companies, is broadening its reach into the alcoholic and cannabis beverage sectors. The company has recently announced acquisitions from major beverage giants Molson Coors and Anheuser-Busch. On Friday, Tilray revealed its plans to acquire the remaining 57.5% ...

LOS ANGELES-- In a significant move within the burgeoning cannabis industry, multistate operator Greenlight announced on Monday its acquisition of an operating recreational and medical dispensary in Las Vegas and an 18,000-square-foot cultivation facility in Buckhannon, West Virginia. The financial details of these acquisitions remain undisclosed. The West Virginia facility further solidifies Greenlight's presence in ...