The Market for Cannabis Companies Continues to Grow and See Rising Sales Numbers as More and More States in the U.S. Legalize Marijuana and for Some Companies, Like Curaleaf, 2021 May Be Better Financially Than Anyone Expected Based on its Most Recent Quarterly Report
Curaleaf (CSE:CURA) (OTCQX:CURLF), showed strong first-quarter earnings. These earnings have put them on track to deliver well-above-consensus numbers for the year. They also beat Curaleaf’s own guidance for full-year revenue ($1.2 billion) and are now expecting $1.3 billion. Analysts believe Curaleaf’s impressive performance is due to a number of factors, one of the most significant being that Curaleaf is an all-encompassing company. Curaleaf has a balance and depth within U.S. markets; they are prepared for federal legalization, and they have a strong balance sheet.
The FDA Has Already Authorized Clinical Trials Into the Therapeutic Potential of MDMA for Patients With PTSD, But Now it’s Given the Green Light to a Psychedelics Research Institute to Expand its Studies By Administering the Substance to Certain Therapists
Volunteer therapists who are being trained to treat people with PTSD will be able to participate in the Phase 1 trials to gain personal experience with the treatment option. This is a complementary research project that comes as the Multidisciplinary Association for Psychedelic Studies (MAPS) is in the process of conducting Phase 3 trials involving people with the disorder.
Certain Highlights for 2020 and Subsequent to the Year-End Include Closing the Platinum Vape and Acreage Florida Acquisitions
Red White & Bloom (CSE:RWB) (OTCQX:RWBYF) anticipates filing its 2020 audited financial statements on or before May 31, 2021. As a result of this announcement, RWB provided certain 2020 and subsequent financial results. System-wide product sales for the company, which excludes RWB Michigan, RWB Florida and RWB Illinois, in the fourth quarter of 2020 was approximately CDN $26.5 million, an increase of 218% over the third quarter and the first full quarter post-closing of the Platinum Vape (PV) acquisition.
New results From a Clinical Trial Using MDMA to Treat PTSD Showed the Promise of a Stigmatized Drug to Treat Mental Illness at a Time When Covid-19 Has Raised Global Awareness of the Toll of Mental Health Conditions
Decriminalization of drugs like “magic” mushrooms in places including Denver and Oregon may lead to broader public acceptance, but the emerging alternative drug industry is focused on patients most in need and where current psychiatric medications have failed. Companies like
Compass Pathways (NASDAQ:CMPS), which uses psilocybin for depression, and ATAI Life Sciences, backed by Peter Thiel, are researching a variety of ways to treat mental health with alternative and psychedelic therapies.
Depression Scores Did Not Differ Significantly Between Patients Who Used Psilocybin or Escitalopram at 6 weeks
These findings, from a phase 2, double-blind, randomized, controlled trial, were published in the New England Journal of Medicine. Patients (N=59) with long-standing, moderate to severe major depressive disorder were recruited via an advertisement in the United Kingdom in 2019. Patients were randomized to receive 2 doses of 25 mg psilocybin with a daily placebo for 6 weeks (n=30) or 2 doses of 1 mg psilocybin with 3 weeks of daily 10 mg escitalopram and 3 weeks of 20 mg escitalopram (n=29). Patients were assessed by magnetic resonance imaging (MRI) and performed cognitive and affective processing tasks.