The Daily Hit: November 20, 2024
The Daily Hit is a recap of the top financial news stories for Wednesday, November 20, 2024.
On the Site
Village Farms, veterans group challenge DEA’s role in cannabis rescheduling
The motion argues that the DEA has “stacked the deck” against rescheduling efforts.
FDA approves clinical trials for medical cannabis to treat PTSD in military veterans
MAPS has been fighting for approval from the agency for three years.
LoneStar Farms loses legal battle with CenTex CBD
LoneStar Farms has been ordered to pay CenTex over $100,000 when the company originally only wanted a $3,400 refund.
Minnesota cannabis office could face legal action from rejected license applicants
An attorney who assisted some of the rejected applicants said the state offered “flimsy” excuses for some rejections.
Psyence Biomedical to consolidate shares in bid to keep Nasdaq listing
The consolidation follows Psyence’s March debut on the Nasdaq through a SPAC merger with Newcourt Acquisition.
Arkansas medical marijuana sales down year-over-year through October
Total medical marijuana sales in Arkansas have topped $1.2 billion thus far since the market launched in 2019.
Earnings:
In Other News
US Cannabis Council
The US Cannabis Council hired Mercury Public Affairs to lobby on issues related to the cannabis industry. The lobbyist on the account is Bryan Lanza, who served as communications director for President-elect Trump’s first transition team.
California consumption lounges
Sacramento city leaders passed an ordinance in a controversial 5 to 4 decision — with Mayor Darrell Steinberg casting the deciding vote — that will allow the social consumption of marijuana at select dispensaries.
MindMed
Mind Medicine appointed Gregg A. Pratt, Ph.D., as its chief regulatory and quality assurance officer. Pratt will oversee the company’s regulatory and quality functions, as well as its product registration strategies.
