NewsRoom Articles - Page 47 of 596

FridayJun 21, 2024 10:00 am

Thousands to Benefit from Cannabis Pardons in Maryland

Earlier this week, the governor of Maryland signed an executive order pardoning more than 175,000 cannabis convictions. Governor Wes Moore stated that this pardon would affect thousands of Marylanders who had been convicted of misdemeanors, adding that it was the biggest pardon in the country’s history. While the pardons will not result in any prior convictions being expunged automatically from an individual’s background check or allow any individual to be released from prison, advocates applauded the move because eliminates barriers to employment, education and housing opportunities. During a news conference, Moore explained that this order would also help change how…

ThursdayJun 20, 2024 4:20 pm

420 with CNW — Cannabis Operators Applaud End of Potency Tax in New York State

New York governor Kathy Hochul has successfully changed the state’s cannabis tax structure. Starting June 1, 2024, a new flat excise tax replaces the previous potency tax, marking the beginning of the new financial year. This move is part of New York’s $237 billion budget for FY 2025 and is receiving positive feedback from many in the cannabis industry, especially smaller retailers, processors and social-equity beneficiaries. With the tax reform, retail marijuana prices are expected to decrease, a significant development as licensed cannabis entities strive to compete with the numerous illegal shops, particularly in New York City. Governor Hochul had…

TuesdayJun 18, 2024 4:20 pm

420 with CNW — Slumping Marijuana Market in Colorado Triggers Industry Concern

In 2014, a Denver-based cannabis dispensary, 3D Cannabis, made history as the first seller of legal marijuana. Over a decade later, the dispensary bears a sign saying it is “temporarily closed," with the building’s doors and windows boarded up and the parking lot strewn with trash, symbolizing the challenges facing Colorado’s marijuana market. Once a thriving success, the industry is now marked by failed entities and struggling entrepreneurs due to regulatory challenges, market saturation and increased competition from neighboring states. The market’s sales peaked in 2020 at $2.2 billion. But by 2023, revenues had fallen to $1.5 billion, which led…

MondayJun 17, 2024 4:20 pm

420 with CNW — DeSantis Vetoes Bill Banning Hemp Intoxicants in Florida

As Florida governor Ron DeSantis campaigns against a ballot initiative for cannabis legalization, he has paradoxically vetoed a bill aimed at banning the sale of intoxicating hemp-derived cannabinoids in the state. This decision comes in the wake of reports that Governor DeSantis intended to block the hemp prohibition bill, hoping the hemp industry would financially support his campaign against the cannabis measure that voters will decide on in November. Although DeSantis did not explicitly reference the cannabis legalization measure in his veto letter, he noted that while the goals of SB 1698 are admirable, the measure would impose significant regulatory…

MondayJun 17, 2024 11:15 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Hires CRO; Set for First Tirzepatide Molecule Study

Lexaria, a global innovator in drug delivery platforms, recently announced the hiring of a Contract Research Organization (“CRO”) for its third human pilot study The study, a randomized, crossover investigation, will evaluate a dual-action glucagon-like peptide 1 (“GLP-1”) + glucose-dependent insulintropic peptide (“GIP”) It will measure absorption, tolerability, pharmacokinetics, and blood sugar levels Lexaria is counting on its patented DehydraTECH technology for significant growth in the 2024 calendar year, and the study reflects this commitment Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just announced the hiring of a Contract Research Organization (“CRO”) for its third human…

MondayJun 17, 2024 10:00 am

Poll Finds Most Individuals Use Cannabis to Manage Pain, Fruity Strains Preferred

A new survey has determined that about 25% of cannabis consumers use the drug to manage pain, with most revealing that they preferred fruity strains. The poll analyzed the responses of more than 6,500 consumers of cannabis who were asked questions on their preferences as well as their desired effects, consumption times and flavor profiles. When asked about their primary goal of consuming cannabis, 25% revealed they used the drug to manage pain, with another 18%, 23%, 7% and 12% revealing that they used the substance to manage stress, anxiety, insomnia and depression respectively. Additionally, 13% of the respondents revealed…

FridayJun 14, 2024 4:20 pm

420 with CNW — Ohio Officials Post Adult-Use Cannabis License Application Forms as Market Launch Looms

Cannabis regulators in Ohio have released guidelines to help medical marijuana dispensaries prepare for the application process to obtain dual licenses. These licenses would allow them to serve both medical patients and recreational consumers. Applications are expected to open soon, and the Cannabis Control Department (DCC) has provided a FAQ and detailed instructions to assist potential applicants in starting the process. The provided materials cover various aspects, such as eligibility requirements, the approval procedure, regulations for dual license holders and the necessary documentation for applications. One question addresses the timeline for reviewing and issuing dual licenses following the submission of…

FridayJun 14, 2024 10:00 am

California Marijuana Consumption Lounge Bill Sent to State Senate

A measure that would permit marijuana lounges to sell food and nonalcoholic drinks has been forwarded to California’s senate for approval. Several local governments have already permitted marijuana lounges, including government officials in Oakland, San Francisco, Weed and Sacramento. The recent measure, Assembly Bill 1775, was authored by San Francisco Democrat and Assemblymember Matt Haney. This is the second attempt in which Haney is introducing such a measure, after a similar bill was vetoed by Governor Gavin Newsom in 2023. The new measure includes amendments to ensure there is separation between food areas and marijuana consumption in lounges. This will…

FridayJun 14, 2024 9:45 am

Astrotech Corp. (NASDAQ: ASTC) Expands Role of Mass Spectrometry in Industrial Processes

In the chemical manufacturing industry, innovative uses of mass spectrometry are a game-changer by ensuring quality control, increased yields, and increased profits Astrotech subsidiary, Pro-Control Inc., has positioned its product line between the need for the chemical manufacturers to offset lower prices with efficiency gains that could offset potential losses The Pro-Control Maximum Value Processing(TM) can perform in-situ process tests every 5 minutes greatly increasing efficiency across a wide range of chemical manufacturing processes Mass spectrometry (“MS”) is becoming a transformative analytical technique that has revolutionized how materials are tested and processed in various industries, such as petrochemical. The supreme…

FridayJun 14, 2024 9:00 am

InMed Pharmaceuticals Inc. (NASDAQ: INM) Advances Therapies Targeting Neurodegenerative Diseases

INM is advancing INM-089 targeting age-related macular degeneration and INM-901 targeting Alzheimer’s disease The company recently posted positive results for INM-089 demonstrating significant functional and pathological improvements in an AMD disease model Recent preclinical data for INM-901 displayed positive pharmacological effects for treating Alzheimer's disease INM posted a business update for Q3-2024 reporting a closing cash position of US$7.9 million and revenue growth for subsidiary BayMedica, a supplier of rare cannabinoids as ingredients InMed Pharmaceuticals (NASDAQ: INM), a is a clinical stage pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates targeting the CB1/CB2 receptors. InMed’s…