A shortened week came with a no shortage of news for the cannabis community and industry.
We must start with a deeply sad event: the passing of 13-year-old Charlotte Figi in the hands of COVID-19.
Charlotte had become a face for the cannabis legalization movement after Colorado cannabis growers, the Stanley brothers, developed a strain of marijuana that was high on CBD and very low on THC, to help her parents treat her very rare form of epilepsy, Dravet syndrome. In a heartbreaking post, the Stanley brothers described Charlotte’s bravery: “Charlotte was ten feet tall and carried the world on her shoulders.”
GWPH) Epidiolex, a cannabinoid-containing drug that is used to treat Lennox-Gastaut Syndrome and Dravet syndrome. This came only days after the FDA granted the same drug Priority Review status.
In New York, Gov. Andrew Cuomo said he doubted adult-use cannabis legalization would make it to this year’s legislative session as expected, due to the COVID-19 pandemic.
NFLX) announced it would be launching a new marijuana cooking show, “Cooked with Cannabis”; Caliva said it would be offering its own delivery services and digital, contacteless payments via a partnership with Hypur.
Over the last four trading days (markets were closed Friday):
- ETFMG Alternative Harvest ETF (NYSE: MJ) gained 4.8%
- AdvisorShares Pure Cannabis ETF (NYSE: YOLO) rose 5.6%
- Cannabis ETF (NYSE: THCX) traded up 4.3%
- Amplify Seymour Cannabis ETF (NYSE: CNBS) gained 4.5%
- SPDR S&P 500 ETF Trust (NYSE: SPY) closed the period up 7.7%
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Spanish landing page and daily cannabis news coverage in the same language.” data-reactid=”33″>In addition, Benzinga Cannabis debut its Spanish landing page and daily cannabis news coverage in the same language.
ZLDAF) (ASX: ZLD) announced its medicinal cannabis trial to treat insomnia has met its objectives. The company said it has received the final report for the trial, which indicates its formulation — dubbedZTL-101 — has produced “statistically significant and dose-responsive improvements” in Insomnia Severity Index scores compared to the placebo.
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“One of Garden Society’s core values is community, and at this time especially it’s so important to support each other. We are happy to be able to bring some of our favorite women-owned brands to the doorsteps of their customers,” said Karli Warner, co-founder of Garden Society. “Every single sale matters now for every single company. We are stronger and better together.”
Created to deliver low cost, high quality products that appreciate a consumer’s cannabis routine, the company accelerated the brand launch by 90-days, recognizing that consumers need economic relief in this time of crisis. Scrapping the marketing campaign originally slated for Q320, Baker’s will instead redirect a portion of its marketing budget to purchase hand sanitizer for all of its participating stores.
This is a community that suffers anxiety levels at more than twice the national level, Out and About spokespeople explained. “Some forty million US adults currently use CBD (which was re-classified as a legal agricultural product in the 2018 US Farm Bill) to help address issues such as stress, insomnia and local pain.”
Out & About CBD has committed to giving back 5% of all proceeds to recognized LGBT non-profits and for the month of April is donating 15% of all sales to The Trevor Project which is dedicated to reducing bullying and suicides by LGBT youth.
According to company co-founder Wayne Carkeek who grew up in a small town in Montana and came out after a stint in the Marines: “Until now the LGBT community has been generally overlooked by the CBD world; we plan to change that and become the thought leader for this influential audience that can benefit greatly from this novel and important wellness trend”
“Hemp products are critical to the wellness of many who have epilepsy, MS, Parkinson’s disease, arthritis, pain, anxiety, and insomnia,” shared Carlos Lopez-Cantera, former Lieutenant Governor of Florida and president of HIAF. “By not designating hemp businesses as critical infrastructure, it disrupts the supply chain, not allowing these essential products to reach the people they serve.”
Leafwell added a telehealth option to its practice, allowing for online medical marijuana consultations. Medical director Dr. Steven Salzman explained, “Telehealth has been a fantastic addition to our practice, allowing us to see a greater number of patients, in particular those who are at higher risk of infection or from remote or underserved communities. In times like these, we realize that some of the things we take for granted – like being able to speak to a provider when you are sick – is particularly difficult for those who cannot actually get to a clinic easily. Telehealth platforms and various states expanding their telemedicine services has made reaching those in need much easier.”
“With limited access to clinical trials, Strainprint provides a rare glimpse into data shared by patients who report which types of medical cannabis products produce the best results,” said AltMed Director of Corporate Affairs Todd Beckwith. “For example a patient could try a 1:1 THC/CBD tincture to treat a specific symptom and using the app they receive an alert prompting them to rate from 1-to-10 how they feel after a certain time. This data is then pooled together with other anonymous users’ feedback so patients can learn what has worked well for others treating the same symptom.”
CRLBF) obtained the final state approval for opening the first recreational-use cannabis dispensary in downtown Chicago.
HRVSF) reported fourth-quarterrevenue of $37.8 million Tuesday, up123% from the same period in 2018. For the full year, thePhoenix, Arizona-based company reported revenue of $116.8 million versus $47 million in the prior year.
NLBIF) (FSE: 0NF), which makes the hemp-oil infused beverage TeaLief, signed a letter of intent to purchase Mydecine Group, a company that specializes in medicinal mushroom and fungi. The purchase price is about $850,000.
AXIM) plans to use a new patent to formulate a chewing gum with cannabinoids and nicotine that aids tobacco smokers in overcoming their addiction.
KSHB) reported its second quarter financial results with net revenue of $30.1 million, down by 14% from the same period in 2019.
The Cypress, California-based company said revenue from its “core” customers was of $24.6 million, accounting for 82% of total revenue, and being up by 227% from the same period in the prior year.
SHRMF) announced Friday it is acquiring AltMed Capital Corp.
Run by Dr. Roger McIntyre, AltMed has been operating a ketamine clinic, the Health Canada-approved Canadian Rapid Treatment Centre of Excellence (CRTCE), for more than 18 months now.
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