Insights

PHOENIX — As the state-mandated deadline of Sunday, Oct. 8, looms, more than half of Arizona’s social equity cannabis retail licensees risk missing the critical opening date for their businesses. Of the 26 license holders, 14 are behind schedule, which could potentially lead to penalties including the revocation of their licenses. Despite this, the Arizona ...

LOS ANGELES — A recent economic assessment suggests that Ohio could reap significant financial benefits should voters opt to legalize recreational cannabis use. As reported by the Ohio Capital Journal, analysis from the Columbus-based Scioto Analysis indicates an annual net benefit of approximately $260 million if Issue 2 is approved in the upcoming November 7 ...

LOS ANGELES- In a significant move to provide enhanced digital health services and specialty medicines, including medicinal cannabis, Kanabo (KNB), a patient-centric provider, has announced a collaborative partnership with British Cannabis. This collaboration will facilitate the availability of pharmacy-grade CBD health supplements to patients. Starting soon, British Cannabis's CBD products will be procurable through prescriptions ...

LOS ANGELES- In a major step for mental health treatment innovation, Cybin Inc. today publicized the interim results of its Phase 2 clinical trial for CYB003, its proprietary deuterated psilocybin analog. These findings highlight a robust and statistically substantial decrease in depressive symptoms as early as three weeks post a single 12mg dosage, a remarkable ...

LOS ANGELES-- In a move reflecting the evolving landscape of the cannabis sector, the Nevada Cannabis Compliance Board (CCB) has awarded six conditional consumption lounge licenses, all set to be situated in Las Vegas. The decision was made during a meeting in Carson City, Nev., on Oct. 24. Notably, two of the cannabis industry's leading ...

LOS ANGELES- In a notable legal decision, a federal judge in Northern Virginia declined to halt the enforcement of a recently established state law imposing stricter controls on hemp-derived products, as reported by the Virginia Mercury on Monday. The law, which tightens the regulations on products containing delta-8 THC, was defended by U.S. District Judge ...

DENVER — In a move that underlines the state's commitment to fostering equitable growth in the cannabis industry, Colorado's Cannabis Business Office (CBO) has unveiled the inaugural recipients of the state's Cannabis Business Loan Program. Launched in collaboration with the mission-oriented lender, NuProject, this initiative facilitates loans ranging from $50,000 to $150,000. The program is ...

LOS ANGELES- A coalition of Massachusetts-based cannabis businesses has initiated legal proceedings against U.S. Attorney General Merrick Garland, presenting a strong case against the current federal cannabis prohibition. The litigants argue that the said prohibition is not only unconstitutional but also unduly infringes on state rights, thereby placing their businesses in jeopardy by compelling them ...

WASHINGTON STATE — State regulators announced a suspension on the quality-assurance certification of the Olympia-based testing lab, True Northwest, after multiple concerns arose regarding the lab's testing reliability and operational procedures. In an official statement, the Washington State Liquor and Cannabis Board (LCB) mentioned, “The lab did not provide an acceptable corrective action report following ...

LOS ANGELES- In a recent survey, compelling insights were unveiled concerning the changing attitudes and behaviors of individuals towards cannabis consumption, emphasizing its medicinal applications and subsequent implications in the professional arena. Key Insights: Usage Dynamics: Among participants, 18% disclosed having used cannabis for therapeutic objectives in the past year, with 19% using it for ...

NEW YORK- The New York Office of Cannabis Management (OCM) has released a comprehensive report addressing the widespread misinformation suggesting that cannabis is being contaminated with fentanyl. This misinformation has been perpetuated through various channels, from law enforcement narratives to political leaders. The report titled “Cannabis and Fentanyl: Facts and Unknowns” aims to separate fact ...

LOS ANGELES- In a significant development within Oregon's cannabis sector, the Oregon Cannabis Association and the Cannabis Industry Alliance of Oregon have decided to merge. The boards of both organizations approved this union last week, as reported by Oregon Public Broadcasting. The newly formed entity, named the Cannabis Industry Alliance of Oregon, will represent a ...

LOS ANGELES- In a significant development for the field of neuropsychiatric treatment, Beckley Psytech Ltd, a leading clinical-stage biotechnology firm, announced today the initiation of its international Phase IIb study on BPL-003. This novel synthetic intranasal formulation of 5-MeO-DMT is being tested for its potential in treating Treatment Resistant Depression (TRD). The study, a multi-centre ...

LOS ANGELES- Delta-8-Tetrahydrocannabinol (delta-8 or ∆8-THC) is making headlines as its popularity soars, primarily due to federal regulations that ambiguously classify it. Resembling the more commonly known Delta-9-Tetrahydrocannabinol in structure and effect, this lesser-known cannabinoid is now under the microscope for its origins, safety, and place in the industry. Historical Perspective Delta-8 was first partially ...

TORONTO — Aurora Cannabis, the Alberta-based licensed producer, has finalized a confidential settlement with Willow Biosciences over a previously ongoing patent litigation that began in July 2021. The specific terms and conditions of the settlement remain under wraps, with both companies refraining from public disclosure of detailed particulars. Aurora had previously initiated the patent infringement ...

TORONTO — FSD Pharma, a noted biopharmaceutical company, and its partner Celly Nutrition Corp. have jointly announced a virtual meeting for FSD Pharma's securityholders. Slated for November 20, 2023, at 1:00 p.m. Toronto time, this virtual gathering will take place via the AGM Connect platform. The main objective of this assembly is to approve the ...

LOS ANGELES- A groundbreaking hearing of the House VA’s subcommittee on Health, set to discuss the potential of psychedelic-assisted therapies in combating mental health disorders, has been postponed. The delay was attributed to the ongoing turmoil in the House over the election of a new speaker. The aptly named "Emerging Therapies: Breakthroughs in the Battle ...

LOS ANGELES — PharmaDrug Inc, a pharmaceutical company, has made two significant announcements today. Firstly, it has detailed its upcoming share consolidation, and secondly, it has named a new Chief Financial Officer. Beginning October 24, 2023, PharmaDrug will initiate its share consolidation, consolidating its common shares at a rate of seven pre-consolidated common shares to ...

TORONTO — Revive Therapeutics Ltd., a specialty life sciences firm dedicated to developing treatments for rare disorders and medical needs, announced today its collaboration with Defence R&D Canada – Suffield Research Centre (DRDC), an entity within the Canadian Department of National Defence. The partnership aims to explore the efficacy of Bucillamine as a potential remedy ...

LOS ANGELES- A groundbreaking study, recently published, has shed light on the profound implications of psilocybin use, especially in the realm of mental health. Demonstrating consistent reductions in depression, anxiety, and alcohol misuse, the research also highlighted marked improvements in emotional stability, spiritual fulfillment, and sociability. This collaborative research, executed by scientists from Johns Hopkins ...

LOS ANGELES- In the wake of the global pandemic, a novel study has shed light on the potential advantages of cannabis for those who contracted COVID-19. Published in the reputable CHEST Journal, the study suggests that cannabis consumers diagnosed with the virus experienced notably improved outcomes and a reduced mortality rate compared to those who ...

LOS ANGELES- The movement to decriminalize psychedelics in California, a campaign spanning over six decades, stands at a pivotal juncture. SB58, the bill that seeks to decriminalize various natural psychedelics and pave the way for their therapeutic use, has now reached the desk of Governor Gavin Newsom. The question remains: will he endorse or veto ...

NEW YORK- Amid a flood of applications and growing uncertainty from prospective cannabis entrepreneurs, New York’s Cannabis Control Board (CCB) has granted a two-week extension for cannabis business license applications. Originally slated to close on December 4th, the submission window will now remain open until December 18th. This unanimous decision by the CCB aims to ...

LOS ANGELES-- In a significant ruling, a Maryland judge rejected a temporary restraining order against hemp producers, affirming that hemp products remained legal as per the provisions of the 2018 Farm Bill. The lawsuit was initiated by the Maryland Hemp Coalition against the 2023 Cannabis Reform Act (CRA). The coalition criticized the CRA for its ...

LOS ANGELES–Welcome to Farris Forward, a new series of articles by Jon Farris exploring the intersection of strategy and leadership in the cannabis and psychedelics industries, or any industry where humans work.  Read on: Navigating Through the Business Seas In the treacherous waters of the business world, imagine being a captain steering your ship through ...