Welcome to the Cannabis Countdown, the Legal Marijuana & Psychedelics 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 August 30th – September 5th, 2021.
Without further ado, let’s get started.
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Having both medical and recreation approval allows RWB to complete its pending and fully-paid for Michigan acquisition
American super state operator Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) released huge this week regarding its Michigan operations. Through Red White & Bloom’s wholly-owned subsidiary, RWB Michigan, the company has now secured the necessary Michigan adult-use prequalification status required to move forward with its Great Lakes State business plan. The new recreational license award marks the final major regulatory hurdle for RWB to complete its long-awaited Michigan acquisition, which includes substantial cannabis retail, cultivation and real estate assets boasting 2020 revenue of USD $69 million, which was excluded from RWB’s 2020 financials.
Why psychedelic stocks benefit from clinical research and how to identify the psychedelic stock winners
As the medical world continues to dive deeper into the potential of psychedelic therapeutics, so too are investors looking to cash in on the next potential boom. Investing in psychedelic stocks gives shareholders the unique opportunity to enter a billion-dollar industry at the ground level, and while regulatory timelines remain uncertain, numerous studies continue to produce revolutionary results that simply cannot be ignored. Investors purchasing psychedelic stocks are buying into the future of the fight against mental illness, a disorder that plagues millions worldwide. While techniques and medicinal offerings have been derived to lessen the impact of these mental diseases, most ailments remain incurable. Given the infancy of the industry, patents and proprietary technology can also play a key role in identifying which psychedelic stocks offer the most promise, as everything from the molecular makeup of a product to the method of delivery can be patented. Take Cybin Inc. (NEO: CYBN) (OTC: CLXPF) for example, as the biotech firm has devised a unique under-the-tongue dissolving film to deliver the proper dose of psilocybin as part of their CYB-001 program. Cybin has also received regulatory approval for CYB-004, an inhaler system that also delivers a dose of psilocybin.
Those investors who recognized the potential of Canadian cannabis company Cronos Group five years ago are now enjoying their skyrocketing returns
Vertically integrated cannabis company Cronos Group (TSX: CRON) (NASDAQ: CRON) (FRA: 7CI) was one of the first “pure-play” Cannabis Stocks to join a major U.S. exchange in 2018. At first, the company’s core operations involved medical marijuana, but once Canada opened its doors to recreational weed, the company jumped in. Over the last five years, Cronos’ stock has outperformed some of the most popular stocks in the world, such as Apple (NASDAQ: AAPL), Netflix (NASDAQ: NFLX), Facebook (NASDAQ: FB) and Amazon (NASDAQ: AMZN). In 2021, Cronos entered the U.S. cannabis market via a $110.4 million investment in the U.S. multi-state operator PharmaCann, obtaining a 10.5% stake. Cronos’ strategic move laid the ground for its full operations once cannabis becomes legal on the federal level in the U.S.
Dr. Matthew Johnson will lead research to look at the science and efficacy of MYCO-001 for the treatment of smoking cessation and nicotine dependence
Mydecine Innovations (CSE: MYCO) (OTC: MYCOF) announced it has partnered with Principal Investigator Dr. Matthew Johnson of Johns Hopkins University on a study evaluating the administration of MYCO-001 with a structured smoking cessation treatment program in nicotine-dependent individuals. The planned placebo-controlled study, based with the Johns Hopkins psychedelic research group, will study the science and efficacy of MYCO-001 to treat nicotine dependence. Dr. Matthew Johnson, a globally recognized leader in this field who has published extensively on the science of psychedelics, has been contracted by Mydecine to complete this phase 2/3 clinical trial of his ongoing research and develop methodologies to better advance future-controlled studies and clinical trials of psychedelics.
The German pharma company focused on psychedelics for mental disorders attracted two new buy ratings from Jefferies and Hauck & Aufhauser
Initiating the coverage of Atai Life Sciences (NASDAQ: ATAI), Jefferies analyst Andrew Tsai wrote: “Atai offers an interesting angle for investors seeking diversified exposure to psychedelics, which we think could garner considerable mindshare over the medium-term.” Jefferies estimates a ~$27 price target for the billionaire Peter Thiel– backed company, implying a premium of ~75.6% to the last close. Also, Hauck & Aufhauser analyst Aliaksandr Halitsa observes that psychedelics “with their remarkable healing potential” are in a resurgence to transform mental health care. “As an aggressive early-mover, Atai is pioneering this revolution,” argues Halitsa, initiating the coverage of German clinical-stage biopharma company with a buy rating and $38 per share target to imply a premium of ~147.1% to the last close.
Benzinga’s Cannabis Insider is a live show for cannabis investors
On Tuesday’s show, hosts Patrick Lane and Javier Hasse Invited Brad Rogers, CEO of Red White & Bloom (CSE: RWB) (OTCQX: RWBYF). In addition, Lane and Hasse also looked into the following Cannabis Stocks: Cresco Labs (CSE: CL) (OTCQX: CRLBF), Ayr Wellness (CSE: AYR.A) (OTCQX: AYRSF), Organigram (TSX: OGI) (NASDAQ: OGI) (FRA: 0OG), Australis Capital (CSE: AUSA) (OTCQB: AUSAF) and Flora Growth (NASDAQ: FLGC).
Once a risky investment, the cannabis industry has established itself as one of the fastest-growing investment opportunities on the planet, with the sector outperforming the broader market already this year
For the first time, we are seeing a similar trajectory emerge for the psychedelic industry. Smart capital is moving in to take advantage of the opportunity to invest in the next frontier. Despite being an industry in its early stages, the potential for psychedelic health care is growing, with the market projected to reach $10.75 billion by 2027. For instance, when Atai Life Sciences (NASDAQ: ATAI), a biopharmaceutical company that develops psychedelic medications, made its recent debut on the Nasdaq, shares surged by 40% on the first day of trading. As a result, the startup, which counts PayPal billionaire Peter Thiel as one of its major investors, is now valued at $2.6 billion.
Pot deals continue to heat up as summer comes to a close
New York- and Toronto-based TerrAscend (CSE: TER) (OTC: TRSSF) has announced a deal to purchase Michigan-based Gage Growth (CSE: GAGE) in an all-stock transaction valued at $545 million. Gage’s portfolio includes the city and state approvals for 19 “Class C” cultivation licenses, three processing licenses, and 15 dispensaries. Once the deal is completed, the combined business will have operations in five states and Canada. This includes seven cultivation and processing facilities and 23 operating dispensaries for both medical and adult-use cannabis markets in the U.S. and Canada.
Agitation is not an independent illness, rather it is a symptom of many acute and chronic neurological and psychiatric conditions
MindMed (NEO: MMED) (NASDAQ: MNMD) (FRA: MMQ) and BioXcel Therapeutics, a leading clinical-stage biopharmaceutical company, announce the publication of BioXcel’s International Patent Application No. PCT/US2020/051256 (published as WO2021055595) for detecting and preventing the early onset of agitation in patients predisposed to highly agitated behaviour. The disclosure provides a method for measuring the signs of an impending agitation event and alerts the caregiver to treat the subject before agitation symptoms arise. The published patent application describes a method to collect digital measures that reliably predict the emergence of agitation. The system continuously monitors physiological and behavioural correlations of sympathetic nervous system activity in patients, using an automated sensor placed or mounted on the subject’s skin surface.
Creso’s plan is to hold dual listings for the company’s shares on both the NASDAQ and the Australian Securities Exchange (ASX)
Creso Pharma (ASX: CPH) (OTC: COPHF) (FRA: 1X8) announced last week that the company and Red Light Holland (CSE: TRIP) (OTC: TRUFF) (FRA: 4YX) have decided to terminate its planned merger, originally announced on June 17, 2021. The decision to part ways with regards to the merger was mutual and will allow Creso to keep its Australian Securities Exchange (ASX) listing as well as pursue a NASDAQ uplisting for its U.S. shares. Creso is currently putting together a team of experienced global executives to assist in the NASDAQ uplisting as well as the company’s international expansion strategy.
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
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