Insights

LOS ANGELES- The movement for psychedelics reform in the United States is gaining significant traction, with numerous states considering decriminalization, legalization, or rescheduling proposals, as well as other measures to facilitate access to new therapies. In California, the TREAT initiative, aimed at creating a state agency to fund and promote psychedelics research, was withdrawn from ...

LOS ANGELES- Optimi Health Corp. a key player in the psychedelics sector, recently announced the amicable resolution of a dispute regarding the termination of a supply agreement with a private entity, initially signed on May 4, 2023. This development marks a significant stride in the company's efforts to maintain harmonious and professional relationships with its ...

NEW YORK- The cannabis industry's unprecedented growth trajectory has positioned it as a lucrative investment landscape. However, the nascent nature of the sector, coupled with regulatory intricacies and market uncertainties, underscores the critical importance of rigorous due diligence for prospective investors. In this comprehensive guide, we delve into the intricate steps necessary to conduct thorough ...

LOS ANGELES- In a strategic move to bolster smaller local cultivators, Vermont has announced a temporary suspension of issuing new licenses for large-scale cannabis growers. This decision was disclosed on Tuesday by state officials, marking a significant step in Vermont’s efforts to balance its burgeoning legal cannabis market. James Pepper, the chairman of Vermont’s Cannabis ...

LOS ANGELES- The recent dispatch of MDMA and psilocybin from Canadian-based PharmAla Biotech to its Australian joint venture, Cortexa, marks a pivotal progression in the emerging domain of psychedelic-assisted therapies. This venture not only underscores a burgeoning global curiosity in these substances as possible remedies for a range of mental health ailments but also underscores ...

In a historic move mirroring a national shift, Ohio voters have chosen to greenlight the legalization of adult-use cannabis, making it the latest state to adopt a more progressive stance on the once controversial substance. The passage of Issue 2 during the recent election, with a 56.97% majority, signals a remarkable change in attitude since ...

A Canadian biopharmaceutical firm, Cybin, has shared promising results from a clinical trial suggesting the potential of psychedelic compounds in treating mental health issues. The company's focus on developing advanced psychedelic therapeutics has yielded a significant milestone with their proprietary compound, CYB003. CYB003 Demonstrates Significant Reduction in Depression Symptoms Cybin's recent press release detailed the ...

As the United States continues to explore the boundaries of drug policy reform, numerous state legislatures and advocacy groups are engaging in a concerted effort to redefine the legal status of psychedelics. From decriminalization and legalization to the establishment of new research agencies, the landscape of psychedelics law is shifting, albeit with nuanced public support. ...

NEW YORK — A legal tussle over a six-figure electricity bill has emerged between the owners of Area 420, a Colorado cannabis business park, and one of its tenants, as reported by NBC. The dispute, centered on an unsettled debt exceeding $100,000, has led Potch LLC, the parent company of Area 420, to pursue foreclosure ...

Alabama — After navigating through a series of legal hurdles and procedural delays, the Alabama Medical Cannabis Commission (AMCC) is now targeting December to finalize industry licenses, a move that its chairman describes as part of an "aggressive" timeline. This latest development comes as the commission attempts to recover from a summer marked by regulatory ...

LOS ANGELES— Employees at Home State Dispensary in Kansas City have made a landmark decision to unionize, becoming the first group of cannabis workers in the metro area to do so. The budtenders and inventory clerks have elected to join Teamsters Local 955, marking a significant moment for labor relations within Missouri's burgeoning cannabis industry. ...

NEW YORK — Mind Medicine Inc. (MindMed), a biopharmaceutical company leading the charge in psychedelic drug development, has assured stakeholders of its financial viability well into 2026. This assurance comes even as the company, which currently does not generate revenue, moves closer to the potential market introduction of its proprietary LSD formulation intended for anxiety treatment. ...

LOS ANGELES- Psyence Group Inc.  a trailblazer in the clinical-stage life sciences sector specializing in nature-derived psilocybin for mental health treatments, has announced significant developments in its Psyence Production division. The company takes pride in operating one of the pioneering government-licensed commercial psilocybin cultivation facilities, located in Southern Africa and ISO22000 certified, which positions Psyence ...

LOS ANGELES- In a bold move that underscores the growing tension between state legislation and federal restrictions, a coalition of U.S. cannabis operators and investors has filed a lawsuit challenging the federal government's application of the Controlled Substances Act (CSA) to cannabis. The suit claims that the federal prohibition of cannabis stands in stark conflict ...

LOS ANGELES--If your company is gearing up to attend a cannabis conference, it's crucial to approach it with a well-thought-out strategy. The earlier you start your preparations, the better the results you can expect. My team and I started this SOP for MJBizCon, and I wanted to share it with any other teams planning to ...

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 ...