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 July 12th – 18th, 2021.
Without further ado, let’s get started.
* Yahoo Finance readers, please click here to view the full article.
10. Curaleaf Partners with Hip Hop Icon to Introduce B Noble Pre-Rolls
The Massachusetts-Based Cannabis Company, Joined Forces With Hip Hop Pioneer and Visual Artist Fab 5 Freddy to Release a New Brand of Pre-Rolled Cannabis With a Social Cause
B Noble, released July 13 in Massachusetts and Maryland, is a two-pack of high-quality, 1g joints. The name of the product refers to Bernard Noble, a man whose prison sentence for marijuana possession sparked a movement to reform the country’s archaic drug laws. Some of the revenue from B Noble pre-rolls, which Curaleaf (CSE: CURA) (OTCQX: CURLF) hopes to distribute nationally this fall, will be donated to local organizations working to advance social equity in communities that suffered the worst in the War on Drugs.
9. Cybin Files its 13th Patent Application and Announces Digital Therapeutics Strategy
The Company is Evolving its Programs Beyond the Psychedelic Molecule, into an Eco-System That May Potentially Drive Improved Patient Treatments Through the Advancement of its Digital Therapeutics Development
Cybin Inc. (NEO: CYBN) (OTC: CLXPF), a biotechnology company focused on progressing Psychedelic therapeutics, today announced that it has filed its 13th new provisional patent application and has advanced the build-out of its digital therapeutics strategy.
A Cannabis-Lifestyle and Consumer Packaged Goods Company With Operations in Canada, the United States, Europe, Australia, and Latin America, Tilray is Set to Release its Updated Quarterly Results, as Well as Annual Results for the Year Ending May 31, 2021, on a Call July 28
Neal Gilmer of Haywood Capital Markets has rated Toronto-based Tilray (NASDAQ: TLRY) (FRA: 2HQ) as a stock to “Hold” for the time being, setting a target price of $16.50/share which at press time represented a projected return of 15%, in a report to clients on July 15. Gilmer views Tilray’s upcoming earnings, along with future acquisitions, product launches, and expansion into new markets as catalysts for his updated rating.
7. Interest in “Shroom Stocks” Rises as Investors See Potential of Psychedelics as Therapy
Magic Mushrooms, LSD, and MDMA, Once Thought to Be Purely Recreational Drugs, Are Under Investigation By Many Publicly Traded Companies as Potential Psychedelic Treatments for a Range of Diseases
The market for prescription Psychedelic therapies got validation in 2019 with the FDA’s approval of Johnson & Johnson’s (NYSE: JNJ) Spravato (esketamine), a derivative of the anesthetic ketamine, for treatment-resistant depression and major depression with suicidal thoughts and actions. Perhaps the largest company in terms of market cap focused exclusively on psychedelic treatments is Compass Pathways (NASDAQ: CMPS), which just had its IPO in September 2020. MindMed (NEO: MMED) (NASDAQ: MNMD) (FRA: MMQ) is another top Psychedelics player with a large capitalization.
READ FULL SHROOM STOCKS ARTICLE
6. Aurora Cannabis is Gearing Up: Delivers an $8 Million Weed Shipment to Israel
Touted as One of the “Largest Single Shipments of Cannabis” Received to Date By the Middle Eastern Country, the Sale Also Significantly Bolsters Aurora’s International Medical Business
Canadian cannabis giant Aurora Cannabis (TSX: ACB) (NASDAQ: ACB) (FRA: 21P) is delivering a nearly CA$8 million ($6.77 million) weed shipment to Israel. “We are excited about the evolution of the cannabis industry in Israel and commend the Ministry of Health and the Israeli Medical Cannabis Agency for ensuring thoughtful regulation of cannabis, in the best interest of Israeli cannabis patients,” Miguel Martin, CEO of the Alberta-based Aurora said Thursday. “We look forward to continuing to provide high-quality cannabis to Israel as part of our strategy to expand our medical cannabis portfolio in key international markets.”
5. Revive Therapeutics Provides Update on FDA Phase 3 Clinical Trial for Bucillamine in COVID-19
The Phase 3 Clinical Trial is Ongoing With the Next DSMB Meeting at 600 Completed Patients With the Aim to Complete Enrollment in Q3-2021 and Complete the FDA EUA Submission in Late-Q3/Q4-2021
Revive Therapeutics (CSE: RVV) (OTCPK: RVVTF) (FRA: 31R) provided an update on the Company’s U.S. Food & Drug Administration (FDA) Phase 3 clinical trial to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19. The Study is a randomized, double-blind, placebo-controlled trial and the safety and efficacy data at each remaining interim analysis timepoint, which currently are 600 and 800 completed patients, are only made available to the Independent Data and Safety Monitoring Board (DSMB) for review and recommendations on continuation, stopping or changes to the conduct of the Study.
4. Hollister Biosciences Added to Horizons US Marijuana Index ETF and Included in Solactive US Marijuana Companies Index
Solactive Offers the Full Spectrum of Index Products to its Clients Which Include Asset Managers, Investment Banks and ETF Providers Around the World, While The U.S. Marijuana Companies Index is Designed to Provide Exposure to the Performance of a Basket of North American Stocks With Significant Business Activities or Exposure to, the United States Marijuana and Hemp Industries
Hollister Biosciences (CSE: HOLL) (OTC: HSTRF) (FRA: HOB) a diversified cannabis branding company is pleased to announce that it was added as an index constituent in the Solactive U.S. Marijuana Companies Index effective as of the U.S. market open on June 21, 2021, as part of the Index’s June 2021 quarterly rebalancing and as a result, is now a holding in the Horizons U.S. Marijuana Index ETF (NEO: HMUS).
3. Red Light Holland Expected Merger Partner Creso Pharma Completes Acquisition of Halucenex Life Sciences
Halucenex a Key Strategic Asset for Proposed Merger Between Red Light Holland and Creso Pharma to Create The HighBrid Lab
Red Light Holland (CSE: TRIP) (OTC: TRUFF) (FRA: 4YX), an Ontario-based corporation engaged in the production, growth and sale of a premium brand of magic truffles to the legal, recreational market within the Netherlands, is pleased to announce that Creso Pharma (ASX: CPH) (OTC: COPHF) (FRA: 1X8) has completed its previously announced acquisition of Halucenex Life Sciences. The acquisition of Halucenex followed considerable due diligence and marks Creso Pharma’s entry into the Psychedelic-assisted psychotherapy (PAP) sector.
2. Why Are Cannabis Stocks Down? Cantor Fitzgerald Explains Impacts of Draft Bill & Advises: ‘Use the Weakness’ To Buy Curaleaf, Green Thumb, Trulieve and Cresco
Wednesday Was a Historic Day for the Marijuana Industry with the Unveiling of the Highly-Anticipated Senate Bill That Would Federally Legalize Cannabis
Cantor Fitzgerald’s Pablo Zuanic offered several possible explanations for this reaction in his latest analyst note, while also emphasizing that investors should “make use of yesterday’s weakness.” There’s an upside, claims Zuanic who recognized that Wednesday was a historic day for the industry despite the decline of Cannabis Stocks. With a certain amount of ambivalence around many aspects of the bill, particularly regarding banking reform, Zuanic advised investors to carefully pick multistate cannabis operators to invest in. Cantor’s top U.S. picks remain Curaleaf (CSE: CURA) (OTCQX: CURLF), Green Thumb (CSE: GTII) (OTCQX: GTBIF) (FRA: R9U2), Trulieve (CSE: TRUL) (OTCQX: TCNNF) and Cresco Labs (CSE: CL) (OTCQX: CRLBF).
READ FULL CANNABIS STOCKS ARTICLE
1. Investment Banks Bullish On Psychedelics Co Atai Life Sciences: Cantor, Credit Suisse, Citigroup, Cowen, Aegis And Others Launch Coverage, Positive Ratings
This week, a Number of Financial Firms and Investment Banks Initiated Coverage of Atai Life Sciences, the Peter Thiel-Backed Biotech Exploring a Host of Psychedelic Compounds and Treatments for Use in Mental Health
Analyst ratings on Atai Life Sciences (NASDAQ: ATAI) ranged from a very sober sector performance rating from RBC Capital Markets with a $19 12-month price target, to a very bullish Overweight rating from Cantor Fitzgerald, which gave Atai a 12-month price target of $45. Other coverage included an Outperform Rating from Credit Suisse, with a price target of $25; Buy ratings from Citigroup and Aegis Capital with price targets of $26; and a Buy rating from Berenberg with a $35 price target. Canaccord Genuity also gave Atai a Buy rating and Cowen & Co. rated it as Outperform.
From the creators of The Cannabis Investor & Psychedelic Profits, introducing WealthyVC.com
As a leading creator and publisher of original digital financial media, Wealthy VC features a series of industry-focused Investment articles dedicated to showing everyday Investors new opportunities in rapidly growing, little-known stocks in the stock market’s hottest sectors.
Check Out the Most Recent Trending Articles From Wealthy VC Below:
- This Company’s Hydrogen at the Pump Technology is Set to Make it the Tesla of Commercial Transportation
- These Clean Tech Stocks Will Clean Up With Biden’s New Spending Bill
- Four CleanTech Leaders Reddit May Take For a Ride
With U.S. Pot Stocks the Hot Theme of 2021, Here’s Why Red White & Bloom Could Be One of the Cannabis Sector’s Top Performers
Follow TCI on Social Media: Facebook | Instagram | Twitter | LinkedIn | Investor Group
Follow Psychedelic Profits on Social Media: Facebook | Twitter | LinkedIn | Investor Group
Did you enjoy this article? If so, sign up for our Email Newsletter below to start receiving our weekly recap of the week’s best articles.
Get Your Copy of The Ultimate Cannabis Investing Guide
Join the Discussion in the TCI Investor Group
Featured ArticlesCannabis Stock NewsCannabis Industry ArticlesTechnical Analysis ArticlesWatch Cannabis Stock Videos