Welcome to the Cannabis Countdown. In This Week’s Edition, We Recap and Countdown the Top 10 Marijuana and Psychedelic Stock News Stories for the Week of May 11th – 17th, 2020.
Without further ado, let’s get started.
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10. 3 Reasons Why Big Pharma Hates the Threat of Psychedelic Medicine and 1 Company That’s Facing Them Head On
The First Drug in the Psychedelics Space, Ketamine-Based Spravato By J&J Was Approved Last Year and At $6,700 a Month, Spravato is Expected to Generate Over $1.3 Billion Annually
Drugs based on Psilocybin (Magic Mushrooms) and MDMA have been granted breakthrough status by the FDA. These psychedelic compounds will be used to treat conditions such as depression, PTSD and substance abuse. Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496) is one company that believes they have the tools necessary to develop industry-threatening drugs. The companies that will be most successful in developing Psychedelic medications will be those that build a strong foundation in drug formulation and clinical studies; Champignon has both of these in spades.
READ FULL PSYCHEDELICS ARTICLE
9. After Presumed Dead, Here’s Why Aurora Cannabis Stock Skyrocketed Over 120% in 2 Days
In Just 2 Trading Sessions, ACB Stock Rallied 123.2% Giving the Company’s Shareholders Renewed Optimism
Aurora Cannabis (TSX: ACB) (NYSE: ACB) (FRA: 21P) is alive after soaring back to life following the cannabis firm’s surprise Q3 Earnings results. Can Aurora sustain its newfound momentum and continue to improve its financial position? Here’s what analysts had to say following ACB’s Q3 earnings.
READ FULL AURORA CANNABIS ARTICLE
8. Cronos Group Today is Like Apple in 1977, Raymond James Says
Raymond James Analyst Rahul Sarugaser Made an Unusual Comparison, Likening Cronos Group to Apple in the 1970s
Anyone looking too closely at recent quarterly numbers from Cronos Group (TSX: CRON) (NASDAQ: CRON) (FRA: 7CI) may be missing the forest for the trees, says Raymond James analyst Rahul Sarugaser who in a Friday update to clients said Cronos’ technology and intellectual property will dominate the market.
READ FULL CRONOS GROUP ARTICLE
7. Hollister Updates on Psychedelics Acquisition, Tommy Chong Alliance, Venom Extracts Merger and More
Hollister Also Provided a Corporate Update on the Company’s Business Operations During the Coronavirus Pandemic
Thanks to cannabis being deemed essential in the states Hollister Biosciences (CSE: HOLL) (OTC: HSTRF) (FRA: HOB) operates in, the company has remained operational throughout the crisis. COVID-19 has drastically changed the way consumers purchase goods, here’s how Hollister plans to capitalize on the potentially permanent consumer behaviour changes.
6. MindMed Reports First Quarter 2020 Results and Corporate Update
MindMed Raised Nearly $19 Million Through Financings Completed During the Quarter
MindMed (NEO: MMED) (OTC: MMEDF) (FRA: BGHM) further developed the infrastructure in the period for its drug development platform to discover, develop and deploy psychedelic inspired medicines. As part of this process, the company actively pursued its strategy to further grow its clinical trial collaborations and intellectual property (IP) acquisitions during this period.
5. Interview: Champignon Brands Brings on One of the World’s Top Depression Experts as Company CEO
Dr. McIntyre Talks About His New Role as Well as the Company’s Recent $10 Million Financing
Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496) CEO Dr. Roger McIntyre sat down for an interview to discuss his new role with the company that is pursuing the development and commercialization of rapid onset treatments for depression and PTSD using psychedelic medicine.
WATCH FULL CHAMPIGNON CEO INTERVIEW
4. Trulieve Cannabis is Kicking Butt, M Partners Says
Ahead of Trulieve’s Q1 Results Due Next Week, M Partners Analyst Paul Piotrowski Issued a Research Update
The analyst says he expects Trulieve’s (CSE: TRUL) (OTCQX: TCNNF) revenue to grow but for profit to be slimmer. With the update, Piotrowski is retaining his ‘Buy’ rating and $31 price target. The analyst is also calling for Trulieve to generate fiscal 2020 revenue and adjusted EBITDA of $400.4 million and $165.6 million, respectively.
3. MediPharm Labs Australia Signs First European White-Label Cannabis Supply Agreement With UK-Based Cannaray’s Therismos
Under the 3 Year Deal, MediPharm Australia Will Supply Cannabis Oils That Meet the High-Quality Standards Set By the German Institute for Drugs and Medical Devices
MediPharm Labs (TSX: LABS) (OTCQX: MEDIF) (FRA: MLZ) announced that its subsidiary, MediPharm Labs Australia Pty. Ltd. has secured its first European white-label cannabis supply agreement with Therismos Limited, a subsidiary of Cannaray Limited.
READ FULL MEDIPHARM LABS ARTICLE
2. Aleafia Health Reports Excellent Q1 2020 Earnings
Aleafia Reported its Financial Results for the First Quarter of 2020
Aleafia Health (TSX: ALEF) (OTCQX: ALEAF) (FRA: ARAH) reported net revenue of $14.6 million, an increase of 143% over the previous quarter. Aleafia also posted positive adjusted EBITDA of $6.4 million and announced gross profit increased by 203% from the previous quarter, coming in at $11.7 million.
READ FULL ALEAFIA HEALTH ARTICLE
1. Champignon Brands to Enter U.S Psychedelics Market Via Acquisition of California Ketamine Clinic
The News Came Just 1 Day After the Firm Announced Dr. Roger McIntyre as its New CEO as Well as a $10 Million Bought Deal, Dr. McIntyre is Regarded as the World’s #1 Depression Researcher
Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496) announced the company signed a term sheet to acquire the California-based Ketamine Wellness Clinic of Orange County. As Champignon continues to advance its North American psychedelic clinic expansion strategy, this news sets the stage for the firm to officially enter the lucrative U.S. Psychedelics market.
READ FULL CHAMPIGNON BRANDS ARTICLE
Also Read: 5 Reasons to Get Your Portfolio High on Psychedelic Medicine
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