Insights

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 ...

LOS ANGELES–Welcome to Farris Forward, a new series of articles by Jon Farris exploring the intersection of strategy and leadership. In the difficult and fast-paced world of business, especially in cannabis, it's easy to get caught up in the "what" and "how" of your endeavors. Companies often pride themselves on the products they make or ...

NEW YORK-  In a significant development in Canada's cannabis landscape, advocates are pressing the federal government to revise the potency limits for cannabis edibles. A petition launched last week is seeking a tenfold increase in the maximum permitted THC levels, from the current 10 milligrams per product to 100 milligrams per package. Background of Cannabis ...

LOS ANGELES-- TerrAscend Corp. displayed a strong financial posture by updating its revenue guidance for 2023 during its investor day at the Toronto Stock Exchange. This adjustment propelled the company's stock upwards by 4%, resulting in a current value of $1.91 per share. The company, showing confidence in its operational trajectory, elevated its 2023 forecast ...

LOS ANGELES-- In a significant stride for the medical cannabis community, Tilray Medical, an affiliate of Tilray Brands, Inc., declared its involvement in a groundbreaking clinical trial slated to delve into the therapeutic potential of medical cannabis against glioblastoma, a particularly aggressive variant of brain cancer. Set to be orchestrated in Spain, this clinical trial ...

WASHINGTON, D.C. — The U.S. Food and Drug Administration (FDA) has raised concerns over the unsupervised and unauthorized use of compounded ketamine and ketamine-based drugs for treating psychiatric conditions. In a recent alert, the FDA pointed to the dangers posed by the unregulated use of such drugs, especially in the wake of the substance's growing ...

OTTAWA — A recent report by the Canadian government suggests the nation's legal cannabis industry is encountering significant economic challenges, shedding light on the realities faced by businesses after the 2018 legalization. The report, titled "What We Heard Report," was published by Health Canada on October 10th, detailing the findings of a legislative review of ...

NEW YORK — Cannabis payment systems have always been rife with controversy and uncertainty. As we explore the landscape, the focus is primarily on services purporting to have a compliant mechanism to accept credit cards. To be succinct, while cannabis remains federally illegal, all payment systems for it are mere workarounds. Some are safe, others ...

NEW YORK — Cannabis microbusinesses in New Mexico may soon face a hike in their annual license fees, should proposed rule changes be ratified after a public comment period. A slated policy revision by the state Regulation and Licensing Department’s Cannabis Control Division (CCD) aims to double the annual permit fees for integrated cannabis microbusinesses ...

  LOS ANGELES— Alaska has intensified its stance on the rapidly expanding national hemp goods sector, especially targeting hemp-derived products that some locals colloquially term "diet weed." Lt. Gov. Nancy Dahlstrom inked new regulations into law last week, slated to be effective from Nov. 3. These stipulations move the purview of intoxicating hemp items to ...

Toronto — Optimi, a leading Canadian psychedelics drug research and formulation enterprise, announced a pivotal achievement today. Health Canada has sanctioned an amendment to the company's Dealer's Licence, setting the stage for Optimi to commence its supply endeavours for Canada's Special Access Program (SAP). This initiative is rooted in compliance with the Controlled Drugs and ...

The Pennsylvania legislature has made strides in advancing a comprehensive tax reform measure, which notably addresses a crucial obstacle faced by state-sanctioned medical cannabis entities: the IRS's 280E code. This code presently restricts these businesses from availing federal tax deductions. Approved by a narrow margin of 102-101 in a party-line House vote on Tuesday, the ...

NEW YORK- In a significant move on Tuesday, New York regulators gave the nod for the state's medical marijuana entities to file applications for adult-use retail licenses. This opens the arena for multi-state operators (MSOs) holding a lion's share of the state's ten "registered organization" permits to tap into what might soon become the most ...

TEL AVIV— Clearmind Medicine Inc.  a biotech firm the charge in discovering and developing innovative psychedelic-derived treatments for significant health concerns, revealed a new collaboration today. The company has forged a Clinical Trial Agreement with the renowned Johns Hopkins University School of Medicine (JHU) to oversee its Phase I/IIa clinical evaluation of its proprietary MEAI-based ...

PHOENIX — The State of Arizona's well-intentioned efforts to address historical disparities in the cannabis industry appear to be veering off course. A deep dive into the allocation of social equity licenses, designed to benefit those who were adversely affected by the war on drugs, reveals that these permits might be benefiting established corporate entities ...

TORONTO — Nearly two years after its announcement, Canada's government-mandated cannabis "strategy table" is beginning to show signs of activity. The initiative, aimed at addressing core challenges faced by the nation's beleaguered cannabis industry, had been lost in bureaucratic inertia, sparking concerns among stakeholders. However, recent developments suggest a renewed momentum. The strategy table, conceived ...

NEW YORK — With increasing numbers of states legalizing cannabis, state marijuana regulators, producers, and other invested parties are wrestling with how to protect consumers, especially in a landscape where lab-testing requisites, enforcement, and broad-scale product recalls diverge dramatically across states. Presently, each state independently determines its lab testing standards for cannabis potency, contaminants, production, ...

LOS ANGELES-- In a sector where every advancement is keenly watched, two significant players in the psychedelic drug industry provided the market with notable updates on their respective drug testing procedures. Atai Life Sciences Shares Phase 1 Results Atai Life Sciences confirmed the successful completion of its Phase 1 study concerning VLS-01, its proprietary DMT ...