Insights

LOS ANGELES- PharmaDrug Inc. a  specialty pharmaceutical firm dedicated to the advancement and commercialization of controlled substances and natural medicines, including psychedelics and previously sanctioned drugs, announced a significant leadership restructure. The company confirmed the appointment of Dr. David Kideckel as Chairman of the Board, succeeding Robert Steen, who will continue in his role as ...

LOS ANGELES— Avesta Ketamine and Wellness, a leading provider of innovative mental health treatments, has announced a groundbreaking partnership with the Department of Veterans Affairs (VA) to offer free ketamine therapy for eligible veterans. This initiative is set to address the critical mental health challenges faced by veterans, including treatment-resistant depression (TRD), post-traumatic stress disorder ...

LOS ANGELES — In a significant move that highlights the stringent regulatory landscape of the medical cannabis industry, the Mississippi State Department of Health (MSDH) has announced plans to revoke the operating license of Rapid Analytics, a key player among the state's medical cannabis testing facilities. This decision, disclosed in a press release on Thursday, ...

LOS ANGELES- In a significant move for the cannabis industry, Maryland has initiated a pioneering step with the approval of nearly 1,500 applicants, all vying for a mere 179 cannabis licenses. This development marks a crucial phase in the state's adult-use cannabis program, which made its foray into the legal market in July of the ...

NEW YORK- In a pivotal move to advance the state’s cannabis industry, the New York Cannabis Control Board (CCB) approved the first round of adult-use cannabis business licenses and introduced draft rules for home cultivation. The board's actions, taken during their meeting on February 16, signal a significant step forward in regulating and expanding access ...

LOS ANGELES- In a significant legislative development, South Carolina's Senate has passed the Compassionate Care Act of 2024, propelling the state towards potentially establishing a medical cannabis program. However, this move, marked by stringent regulations, positions South Carolina at a crossroads, reflecting the state's cautious approach to a debate that has been both restrictive and ...

NEW YORK- Ohio's journey towards implementing a recreational cannabis program is encountering significant obstacles, as the state grapples with legislative standstills and political disagreements. Despite the recent legalization, the path to operationalizing the program remains fraught with uncertainty, primarily due to a mix of administrative rulemaking challenges and political gridlock. House Speaker Jason Stephens (R) ...

LOS ANGELES— In a decisive move, the Florida Senate on Tuesday passed legislation aimed at banning delta-8 tetrahydrocannabinol (THC) products while introducing new, stringent regulations on the state's burgeoning hemp industry. This unanimous decision reflects the legislature's growing concern over the unregulated proliferation of hemp-derived substances, particularly those appealing to minors. The bill, spearheaded by ...

LOS ANGELES- In a pivotal move for medical cannabis legislation, the South Carolina Senate has passed a bill aimed at legalizing medical cannabis for individuals with certain serious health conditions. This decision marks a significant step toward providing relief for patients within a framework designed to maintain strict control over the drug's production and distribution, ...

LOS ANGELES- A significant legislative development occurred in Florida on Monday as a House legislative subcommittee moved forward with a bill aimed at regulating psychoactive hemp-derived cannabinoids, including Delta 8 and Delta 10 THC. House Bill 1613, sponsored by Republican State Representative Tommy Gregory, seeks to address the burgeoning market of hemp products that have ...

LOS ANGELES- In a significant move for the U.S. Virgin Islands, the territory's Cannabis Board sanctioned a comprehensive set of rules and regulations for the adult-use cannabis sector on Tuesday, marking a pivotal advancement since the legalization was legislated in January of the previous year. This long-anticipated approval by the board lays the groundwork for ...

LOS ANGELES- Cybin Inc., a development of next-generation psychedelic treatments for mental health disorders, today unveiled its unaudited financial outcomes for the third quarter ending December 31, 2023, alongside key business achievements. This period has been marked by significant advancements in the company’s psychedelic research, particularly within its CYB003 and DMT programs, showcasing Cybin’s commitment ...

LOS ANGELES- In a pivotal decision reflecting the evolving landscape of cannabis commerce, New Mexico has chosen to endorse the operation of drive-thru cannabis dispensaries, a move that underscores the state's commitment to convenience and the normalization of cannabis. This development came to light during the state's latest legislative session, where the proposition to sustain ...

LOS ANGELES- Pennsylvania's cannabis industry is on the brink of a significant transformation as Governor Josh Shapiro pushes for the legalization of recreational marijuana use. In his recent budget address, the Democratic leader urged lawmakers to allow adults over the age of 21 to possess and use cannabis by July 1, with plans for retail ...

LOS ANGELES- Michigan's cannabis industry has witnessed a varied growth pattern, with adult-use sales driving the market forward while medical cannabis sales face a significant decline. The state's cannabis sales increased by 17.1% compared to the previous year, showcasing a slower yet positive growth rate. However, the dynamics within the market present a contrasting picture. ...

NEW YORK- In an unexpected turn of events, the mayor of Winnebago, Minnesota, Scott Robertson, and his son Jacob Robertson, have been arrested for operating commercial-grade greenhouses to cultivate cannabis in quantities far exceeding the state's legal limit. The arrests were made following a collaborative investigation by multiple law enforcement agencies, initiated by an anonymous ...

Compass Pathways, a biotechnology firm at the forefront of mental health innovation, has initiated the UK segment of its global phase 3 study of COMP360 psilocybin therapy for treatment-resistant depression (TRD). This advancement, approved by the Medicines and Healthcare Regulatory Agency, marks a critical phase in the exploration of psilocybin as a potential treatment for ...

LOS ANGELES- In a move reflecting Idaho's staunch stance on cannabis prohibition, state legislators are deliberating on a bill aimed at curtailing advertisements for cannabis products from neighboring states where it is legal. The proposed legislation comes in response to the visibility of billboards and other forms of advertising that promote out-of-state cannabis, sparking concern ...

NEW YORK – atai Life Sciences a pioneering  company specializing in mental health treatment innovations, today announced the promotion of Anne Johnson to Chief Financial Officer (CFO). Johnson, who has served as the interim CFO since October 2023 and Chief Accounting Officer since August 2022, will officially succeed Stephen Bardin in the CFO role. Bardin ...

NEW YORK— Cybin Inc. a biopharmaceutical industry dedicated to transforming mental healthcare with innovative psychedelic-based therapies, has achieved a significant milestone with the recent grant of two patents by the Japan Patent Office. These patents, numbered 2023-500532 and 2023-533436, mark a crucial step in the company's quest to develop next-generation treatments for mental health disorders, ...

NEW YORK- Governor Kathy Hochul of New York has openly criticized the state's approach to rolling out its adult-use cannabis market, describing the process as a "disaster." This candid admission comes amidst a series of legal challenges that threaten to further delay the licensing of new cannabis retailers in the state. The governor's comments reflect ...