Welcome to the Cannabis Countdown, the Legal Marijuana Industry’s Number One Curated Weekly News Recap.
In This Week’s Edition, We Recap and Countdown the Top 10 Cannabis and Psychedelic Stock News Stories for the Week of June 7th – 13th, 2021.
Without further ado, let’s get started.
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As Another Cannabis Earnings Season Comes to a Close, the Financial Results From Some of the Smaller U.S. Multi-State Operators (MSOs) Have Fallen Under the Radar, Despite Posting Awe-Inspiring Numbers
A perfect example of an under-the-radar company that recently posted stellar earnings is Hollister Biosciences (CSE: HOLL) (OTC: HSTRF) (FRA: HOB), which saw its Q4 and full-year 2020 revenue skyrocket +3,243% and +2,960% year over year, respectively. Hollister followed that up with a blowout Q1 2020 earnings report, which saw the company’s revenue surge another +97% over Q4 (+2,332% YoY) and featured net income of $2 million and adjusted EBITDA of $2.8 million. In addition to Hollister’s strengthening fundamentals, the rapidly rising cannabis MSO also holds a significant stake in the burgeoning psychedelics industry, making HOLL stock one of the more unique, “best of both worlds” investment opportunities.
COMPASS Pathways Is a Mental Healthcare Company Focused on Accelerating Patient Access to Evidence-Based Medical Innovation
That is a fancy way of saying the company is using magic mushrooms to treat what is largely untreatable; depression and specifically treatment-resistant depression (TRD). If Compass Pathways (NASDAQ: CMPS) successfully demonstrates its proprietary formulations can aid patients with depression in its ongoing Phase II and, eventually, Phase III clinical trials, the potential for the company huge. Results of its Phase IIB clinical trials are expected to be released at the end of FY 2021.
Yesterday, Cronos Group Showed Once Again That the Demand for U.S Cannabis Assets is High With Their Strategic Investment in One of the Larger Private Operators, PharmaCann
Cronos Group (TSX: CRON) (NASDAQ: CRON) (FRA: 7CI) is investing $110.4 million for a 10.5% potential ownership stake via a call option as Cronos cannot own U.S cannabis assets if they want to keep their shares trading on the tier one exchanges. This deal values PharmaCann at roughly $1.05 billion. This announcement seems like it has not affected analysts’ outlook on Cronos, with the weighted 12-month price target stuck at C$9.38, or a downside of roughly 13%.
Completion of These Critical Steps Positions Company to Submit Application to Commence Phase 1 Human Trials by Year-End
Field Trip Health (CSE: FTRP) (OTC: FTRPF), a leader in the development and delivery of psychedelic therapies, today announced that it has completed initial drug metabolism and pharmacokinetic (“DMPK”) studies for FT-104, its novel psychedelic compound in development. In-vitro preclinical studies confirmed that metabolism of FT-104 is rapid and complete in several animal species, converting FT-104 into the active form of the drug with relatively few metabolites, validating FT-104’s action as a prodrug for the underlying molecule from which FT-104 was derived. The active is a known psychedelic molecule which has yet to be disclosed.
New York-Based Columbia Care Has Licenses in 18 U.S. Jurisdictions and the European Union, Operating 122 Facilities Including 92 Dispensaries and 30 Cultivation and Manufacturing Facilities
U.S. multi-state operator Columbia Care (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FRA: 3LP) continues to look very attractively valued, according to Echelon Capital Markets analyst Andrew Semple, who delivered an update to clients on Friday. Semple has reasserted his “Buy” rating and C$14.00 target, which at the time of publication represented a projected 12-month return of 108%.
One of the Most Vital Positions in Any Company is Undoubtedly the Chief Executive Officer (CEO)
In the most ideal of circumstances, a CEO can serve as beacon leadership that guides their company from one successful venture to the next. Worst case scenario, a subpar CEO can lumber from one questionable decision to another and drag an otherwise successful company into the muck with them. This leadership paradigm can be most keenly felt in the world of biotech. Just because an executive is a good manager and skilled at fundraising, that does not mean that will necessarily translate into the skills necessary to take a biotech company to the next level. Case in point: earlier this week MindMed (NEO: MMED) (NASDAQ: MNMD) (FRA: MMQ) announced that its CEO, J.R. Rahn, would be stepping down effective immediately.
The Guidelines Were Developed and Led by Braxia’s CEO Dr. Roger S. McIntyre, M.D., and Braxia Health Medical Director, Joshua Rosenblat, M.D., M. Sc., Along With an International Group of 26 Medical Experts Across Five Continents
Braxia Scientific (CSE: BRAX) (OTCQB: BRAXF) (FRA: 496), a medical research company with clinics providing novel ketamine treatments for persons with depression and related disorders, is pleased to announce the American Journal of Psychiatry, the most widely read psychiatric journal in the world, has published the International Expert Opinion and Implementation Guidance (the “Guidelines”) for the clinical use of rapid-acting Ketamine and Esketamine for treatment-resistant depression (TRD).
Cannabis Company Tilray, Which Recently Merged With Rival Aphria, Has Seen its Stock Surge as of Late Thanks to — You Guessed it — Love From the Reddit Crowd
As backers tout the growing number of states legalizing recreational and medical marijuana, some investors are holding out for the dream scenario of federal legalization — even though that might be a stretch in the near term. But are investors going a little crazy? Tilray (NASDAQ: TLRY) (FRA: 2HQ) is now up more than 130% this year. That’s much higher than the gains for rivals Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1) and Cronos Group (TSX: CRON) (NASDAQ: CRON) (FRA: 7CI), which have the backing of consumer products giants Constellation Brands (NYSE: STZ) (FRA: CB1A) and Altria Group (NYSE: MO) (FRA: PHM7), respectively.
ATAI Life Sciences Will Go Public This Week and Investors Wanting to Cash in on One of the Hottest Medicine and Mental Health Trends Need to Pay Attention to This Stock
The ATAI Life Sciences IPO will raise around $100 million that the company can add to its already sizeable cash on hand, about $97 billion as of the end of 2020. ATAI stock could be the biggest psychedelic stock opportunity on the Nasdaq to date. This trend will continue to grow with further research into psychedelics for mental health treatment. Right now, it’s just the beginning.
RWB is Positioning Itself to Be One of the Top Three Multi-State Cannabis Operators Active in the U.S. Legal Cannabis and Hemp Sector
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) is predominantly focusing its investments on the major US markets, including Michigan, Illinois, Florida, California, Arizona and Massachusetts, with respect to cannabis, and the US and internationally for hemp-based CBD products. Brad Rogers, Chairman and CEO of RWB joined the Daily Dive to give investors a high-level overview of the company, discuss the state of Michigan from a cannabis perspective, his experiences in the Canadian sector, and the long-term vision of the company.
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