Insights
New Study Affirms Long-Term Safety of CBD for Dogs
NEW YORK- In an era where CBD products have surged in popularity for their health benefits in humans, a new study funded by the National Animal Supplement Council (NASC) brings promising news for our four-legged friends. According to research published in the journal *Frontiers in Veterinary Science*, hemp-derived CBD and other cannabinoids are not only ...
Virginia Advances in THC Detection
LOS ANGELES- The Virginia Department of Forensic Science (VDFS) has made significant progress in the development of reliable methods for detecting THC and other cannabinoids in blood samples, marking a pivotal advancement in forensic science amidst the evolving legal landscape of cannabis. Funded by the Department of Justice’s National Institute of Justice with an initial ...
Call for Enhanced Research and Surveillance on Ketamine Treatments
LOS ANGELES A recent publication in the Journal of American Medical Association (JAMA) Psychiatry has underscored the urgent need for increased research and surveillance in the realm of ketamine treatments. Authored by Dr. Samuel T. Wilkinson, Dr. Joseph J. Palamar, and Dr. Gerard Sanacora, the article casts a spotlight on the burgeoning use of ketamine, ...
North Carolina Welcomes Its First Adult-Use Cannabis Dispensary on Tribal Land
NEW YORK- In a groundbreaking move for North Carolina's cannabis industry, the Eastern Band of Cherokee Indians is poised to unveil the state's inaugural adult-use cannabis dispensary. Slated for an April 20th opening, this development not only signifies a notable shift in the region's approach to cannabis but also establishes the tribe as a frontrunner ...
Ohio Moves to Drastically Reduce Medical Cannabis Registration Fee to One Cent
LOS ANGELES- In a significant step toward making medical cannabis more accessible to patients, Ohio has announced plans to reduce the registration fee for medical cannabis patients to a nominal one cent. This move, aimed at providing immediate financial relief, precedes the state's ultimate goal of eliminating the fee entirely. The decision reflects a broader ...
Verano Holdings Financial Highs and Lows in 2023
LOS ANGELES- Verano Holdings, a player in the cannabis industry, showcased a mixed financial performance for the year ending December 31, 2023. The company reported a significant revenue uptick, reaching $938 million, marking a 7% increase from the prior year's $879 million. This growth underscores Verano Holdings' expanding footprint and operational success across multiple states. ...
Revive Therapeutics Advances Clinical Research with Completion of Funding Round
LOS ANGELES- Revive Therapeutics Ltd. has successfully concluded the final tranche of its previously announced private placement, marking a significant milestone in the company's fundraising efforts. This move, detailed in press releases dated January 24, 2024, and January 31, 2024, saw the issuance of 33,917,428 units at a price of $0.035 per unit, culminating in ...
Utah Lawmakers Push for Protections for Medical Cannabis Patients
LOS ANGELES- In a significant legislative push, two key Utah state lawmakers are spearheading a bill aimed at safeguarding the rights of medical marijuana patients against discrimination by local governments. This initiative follows the 2018 approval of medical cannabis use by Utah voters, a measure that garnered nearly 53% of the vote, illustrating a shift ...
PharmaDrug Appoints New Chairman Amid Strategic Corporate Shifts
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 ...
New Mexico Advances Psilocybin Research with Memorial Legislation
-LOS ANGELES- In a significant move toward exploring alternative therapeutic treatments, New Mexico Governor Michelle Lujan Grisham has signed Senate Memorial 12 (SM-12), initiating a comprehensive study on the therapeutic potential of psilocybin, the psychoactive compound found in certain mushrooms. The memorial, distinct from typical bill proposals, mandates the New Mexico Department of Health and ...
Germany Takes a Historic Step by Legalizing Cannabis for Adult Use
BERLIN- In a landmark decision last week, Germany's Bundestag moved to legalize the consumption and cultivation of cannabis for adults, marking a significant shift in the nation's drug policy. The measure, which was passed with a majority vote of 407-226, stops short of permitting commercial sales but introduces a legal framework for cannabis clubs, where ...
Avesta Ketamine and Wellness Partners with Veterans Affairs to Offer Free Ketamine Therapy to Veterans
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 ...
Mississippi to Revoke License of Medical Cannabis Testing Lab After Rule Violations
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, ...
Maryland’s Cannabis Licensing Rush: A Beacon of Social Equity and Industry Diversity
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 Cannabis Control Board Advances with Adult-Use Licenses and Research Initiatives
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 ...
South Carolina Advances on Medical Cannabis
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 ...
Ohio’s Recreational Cannabis Rollout Mired in Political and Legislative Hurdles
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) ...
Florida Senate Advances Legislation to Ban Delta-8 THC
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 ...
South Carolina Senate Approves Conservative Medical Cannabis Bill
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, ...
Florida Advances Bill to Restrict Hemp-Derived Cannabinoids
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 ...
U.S. Virgin Islands Sets Stage for Adult-Use Cannabis Market
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 ...
Cybin Inc. Reports Psychedelic Treatments and Financial Growth in Q3
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 ...
New Mexico Embraces Drive-Thru Cannabis Dispensaries
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 ...
Pennsylvania’s Cannabis Market Poised for Expansion as Recreational Use Moves Closer to Reality
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 ...
Michigan’s Cannabis Market Experiences Mixed Growth
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. ...