Insights

  LOS ANGELES- Skymint, a leading cannabis operator in Michigan, is facing significant operational changes as it shuts down its Harvest Park growing and processing plant in Dimondale, near Lansing. The closure, announced in an internal memo obtained by Crain’s Detroit, is set to impact approximately 180 employees, with layoffs commencing on February 12 and ...

LOS ANGELES- November marked a historic month for Illinois' adult-use cannabis retailers, as they achieved the highest single-month sales of legal cannabis since the opening of weed shops in January 2020. The Illinois Department of Financial and Professional Regulation reported an impressive $139.1 million in total recreational cannabis sales. This figure breaks down into $105.5 ...

LOS ANGELES-Arizona's cannabis market, after experiencing a downturn over the summer, is showing signs of stabilization in the recent months, although overall sales for the year remain lower than expected. The state's cannabis industry has been navigating a fluctuating market, with the latest figures indicating a complex financial landscape. According to data from the Arizona ...

LOS ANGELES- Recent research conducted by scientists at Cornell University in New York has opened a new avenue in the study of hemp, suggesting that cannabinoids produced by the plant may serve as a source for developing natural pesticides. This study, undertaken by the School of Integrative Plant Science at Cornell AgriTech’s College of Agriculture ...

LOS ANGELES- Optimi Health Corp. a Canadian company recognized for its work in controlled psychedelic substances such as natural psilocybin and MDMA, has announced a significant supply agreement with Sunshine Earth Labs Ltd., a British Columbia-based biosciences company also licensed by Health Canada. This strategic alliance highlights a commitment to supplying globally the Good Manufacturing ...

LOS ANGELES- In a continued effort to regulate and control the cannabis market in New York, state agencies are intensifying their crackdown on illegal dispensaries. Alexander, in a recent press release, highlighted the importance of this initiative: “The number one remedy for the problem of these illicit shops is getting more legal businesses open. New ...

LOS ANGELES- The psychedelics industry is witnessing a remarkable surge in business deals, partnerships, and mergers, marking a significant shift toward mainstream acceptance and legitimacy. A staggering 500% increase in dealmaking over the past four years highlights the sector's rapid growth, as reported by the GlobalData Pharma Intelligence Center Deals Database. This uptick in business ...

LOS ANGELES- New Jersey is on the brink of a significant legislative change in its cannabis policy. A new bill has been introduced, aiming to legalize home cultivation of cannabis for registered medical cannabis patients. This move could mark a notable shift in the state's approach to cannabis, which currently allows both adult and medical ...

LOS ANGELES - Florida’s medical cannabis market is witnessing significant growth, with over 850,000 active cannabis patients, representing about 4% of the state's population. Insights from the Brightfield Group’s U.S. Cannabis Consumer highlight several key trends shaping this burgeoning market. Demographic Trends Florida’s medical cannabis consumer base slightly differs from the national average. Notably, the ...

LOS ANGELES- In 2018, the United Kingdom took a significant step by legalizing medical cannabis, yet its integration into the National Health Services (NHS) has been slow, marked by a lack of clinical studies and limited prescription availability. Recent developments, however, signal a shift in this landscape. Sky News has highlighted that despite the legalization, ...

LOS ANGELES -In a critical step toward establishing its medical cannabis industry, Alabama's Medical Cannabis Commission (AMCC) approved a new set of licenses on December 1, marking the third attempt in a complicated licensing journey. The decision, taken during the AMCC's regular meeting, encompassed a diverse array of licenses, including seven for cultivation, four for ...

LOS ANGELES- MJBizCon, the premier cannabis industry conference, made its mark in Las Vegas this year, captivating attendees with the latest trends, innovations, and groundbreaking developments. It's tough now for many operators with many going to the wall. Only the strongest, most highly capitalized companies have survived the last few years.  As cannabis enthusiasts and ...

LOS ANGELES- In a remarkable initiative supporting Minnesota's recent legalization of recreational cannabis, Steve Rosenfeldt, a local entrepreneur, is offering free workshops on cannabis cultivation and basics. Aimed at empowering residents with the skills and knowledge for home cannabis cultivation, these workshops align with Minnesota's new adult-use cannabis law, which permits home growing. Rosenfeldt, owner ...

Cybin Inc. a psychedelic biotech drug development, has recently announced the comprehensive results from its Phase 2 trial of CYB003, a groundbreaking treatment for Major Depressive Disorder (MDD). These findings, presented at a high-profile R&D investor briefing in New York City, have garnered significant attention from analysts, investors, the media, and the public, who could ...

LOS ANGELES- Oregon, a state known for its progressive stance on cannabis, is currently grappling with significant oversupply issues in its market. This challenge is compounded by various other difficulties that have been persisting in the state's cannabis industry. Historical Context and Legislative Developments Oregon has been a trailblazer in cannabis legislation, having decriminalized the ...

LOS ANGELES- The University of Utah is taking a significant step forward in the realm of medical cannabis research with the establishment of the Center for Medical Cannabis Research (CMCR). Announced on November 21, this initiative marks a concerted effort to gather evidence-based data on medical cannabis, addressing a growing need for scientific understanding in ...

LOS ANGELES- In a significant move to bolster social equity within the cannabis industry, both California and Michigan have recently taken steps to channel more funding into social equity cannabis companies. California is set to allocate $15 million to local governments with social equity permit programs, while Michigan has earmarked $1 million in grants for ...

LOS ANGELES' In a significant development for Georgia's medical cannabis sector, state regulators have resumed the licensing process, concluding a prolonged two-year legal standoff. This move, as reported by the Valdosta Daily Times, comes after a decisive ruling by the Georgia Court of Appeals, which has paved the way for the issuance of long-awaited medical ...

LOS ANGELES- A recent CBS News report has brought to light a significant trend among veterans dealing with PTSD: an increasing number are seeking psychedelic-assisted treatments in Mexico, utilizing substances currently deemed illegal by the U.S. government. This development underscores the growing desperation for effective mental health treatments among veterans, as traditional methods often fall ...

LOS ANGELES- Optimi Health, a Canadian company specializing in psychedelic drug research and formulation, has achieved a significant milestone with Health Canada's approval of an amendment to its Dealer's Licence. This crucial development allows Optimi to commence the official supply process for Canada's Special Access Program (SAP), under the guidelines of the Controlled Drugs and ...

LOS ANGELES- Psyence Group Inc a clinical-stage life science biotechnology firm at the forefront of utilizing nature-derived psilocybin for mental health and wellbeing, today announced the resignation of Mr. Marvin Singer from his role as a Non-Executive Director. Citing personal reasons for his departure, Mr. Singer's resignation marks the end of a significant era for ...

LOS ANGELES- In a groundbreaking study at Lund University in Sweden, researchers are employing psychedelic substances, specifically acid (LSD) and ketamine, to delve into the intricate workings of the brain. This unique approach aims to pave the way for advancements in artificial intelligence. As revealed in a press release earlier this year, the team at ...

NEW YORK- Clearmind Medicine Inc., a biotech company renowned for its innovative work in developing psychedelic-derived therapeutics, has announced a strategic decision to conduct a reverse share split of its ordinary shares. This move is aimed at regaining compliance with the Nasdaq Minimum Bid Price Rule. The reverse split, set at a ratio of 1-for-30, ...

LOS ANGELES- Revive Therapeutics Ltd, a specialty life sciences company, has recently announced significant progress in the development of a new lyophilized formulation of Bucillamine, a drug initially designed for medical needs and rare disorders. This development is part of a collaborative effort with the University of Waterloo. The research team, working under an agreement ...

LOS ANGELES- In a significant move for the state's cannabis industry, Oklahoma has decided to extend its moratorium on new medical cannabis licenses up to 2026, as reported by Tulsa World. This extension hinges on a critical condition: the moratorium will remain unless the Oklahoma Medical Marijuana Authority (OMMA) concludes that all pending license reviews, ...