Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 Marijuana and Psychedelics industry news stories for the week of April 20th – 26th, 2020.
Without further ado, let’s get started.
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The team from DTU Biosustain found that a common species of yeast may be able to act as a host for Psilocybin through a process called ‘Rational Metabolic Engineering.’ The new yeast-based method could be a much more cost-efficient option compared to the traditional process of removing the Psychedelic compound from Magic Mushrooms.
Two members of the U.S. House of Representatives introduced legislation that would enable state-legal marijuana companies to qualify for U.S. Small Business Administration coronavirus relief programs, a stand-alone bill that could face an uphill battle in the current economic climate.
The Johns Hopkins study found that a single high dose of Psilocybin administered to properly screened patients in a controlled setting can have a positive effect on healthy individuals long after leaving a person’s system.
California’s struggling cannabis industry, beset with high compliance costs and taxation, is in line to benefit from new state guidelines enacted to help businesses survive the global Coronavirus pandemic.
MindMed (NEO: MMED) (OTC: MMEDF) (FRA: BGHM) announced that it has discovered a new technology that the company says could help shorten or even stop the effects of an undesired LSD trip. MindMed’s ‘LSD Neutralizer’ could help the industry reduce the stigma and fear associated with Psychedelics By eliminating ‘Bad Trip’ experiences.
A top New York lawmaker is still hoping to get marijuana legalization passed this year despite challenges presented by the Coronavirus outbreak.
Champignon Brands (CSE: SHRM) (OTC: SHRMF) (FRA: 496) announced it obtained a long-term supply of Psilocybin for the company’s ongoing TBI/PTSD-focused preclinical studies taking place at the University of Miami’s Miller School of Medicine. Champignon’s new Psilocybin source is the same organization that supplied the Psychedelics research studies and trials at Johns Hopkins and Yale University.
Until now, the cannabis industry has been overlooked in regards to financial assistance. However, that could change as Democrats try to get help for cannabis companies. And if they succeed, it would help make Pot Stocks safer buys.
The leaders of U.S. based multi-state operators (MSOs) Cresco Labs (CSE: CL) (OTCQX: CRLBF) (FRA: 6CQ), Curaleaf (CSE: CURA) (OTCQX: CURLF), and Green Thumb (CSE: GTII) (OTCQX: GTBIF) (FRA: R9U2) discussed the current state of the cannabis industry ahead of the 4/20 marijuana holiday.
The federal government of both the U.S. and Canada have green-lit the burgeoning Psychedelics industry while also placing extremely high barriers to entry. Investors looking to get involved in the world of Psychedelic Medicine should take a close look at the two companies leading the emerging sector forward.