Business

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 ...

LOS ANGELES- Lucy Scientific Discovery Inc. has been in the spotlight, not for its recent acquisitions but for missing its annual report filing deadline with the U.S. Securities and Exchange Commission (SEC). While the company has kept its investors in the loop about anticipated losses, the official documents are expected to be filed by Oct. ...

LOS ANGELES— Among decaying cornstalks and scarecrows, spanning 120 acres north of Paw Paw on County Road 665, stands a rich, green crop of lucrative trees — marijuana plants from Grasshopper Farms. In the cannabis industry, the annual October harvest, known as "Croptober", signifies the reaping of the state's outdoor marijuana crops. This season, Florida ...

NEW YORK — The Empire State today marked the opening of its general cannabis licensing window, despite the legal blockade on its Conditional Adult-Use Retail licensing program put in place by a judicial ruling in August. The current 60-day phase allows submissions for a spectrum of cannabis licensing, encompassing cultivators, processors, distributors, retailers, and micro ...

DETROIT–Michigan is set to become the epicenter of the cannabis industry as the highly anticipated MJUnpacked Conference unfolds from October 10th to 12th, 2023. This distinctive event, organized by Jage Media, Inc., promises an exclusive gathering of nationwide license holders and accredited investors, providing a unique platform for networking, collaboration, and strategic planning. An Exclusive ...

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. ...