Cannabis Capital Markets

Cannabis and Beverage continues thier marriage……

Blue Point Brewing Company, part of Tilray Brands (NASDAQ: TLRY, TSX: TLRY), is holding its 4th Shakedown on Main Street festival on April 20 in Patchogue, New York, featuring Shaggy, Bryce Vine, and B.o.B. The event will include a second stage, vendors, art, food trucks, and activities like skateboarding demos. The festival, a collaboration with SweetWater 420 Fest, focuses on community engagement through music and craft beer.

Tilray seems like a fun place to work…….

SweetWater Brewing Company, part of Tilray Brands (NASDAQ: TLRY; TSX: TLRY), will host the 2024 SweetWater 420 Fest in Atlanta on April 20-21, featuring Beck and Slightly Stoopid. The event at Pullman Yards includes a lineup of 25 artists, such as Big Gigantic and Black Pumas, alongside local vendors and environmental initiatives.

RIV Capital (CSE: RIV, OTC: CNPOF) and its subsidiary, Etain, are opening White Plains' first dual-purpose cannabis dispensary, transitioning from Yonkers. This move aims to strengthen Etain's market presence in a growing region. The dispensary will feature a mix of medical and adult-use cannabis products, emphasizing inclusivity and community engagement. This development is part of RIV Capital's strategy to expand its U.S. cannabis brand portfolio, with Etain's venture into the adult-use sector marking a key step.

InMed Pharmaceuticals (NASDAQ: INM) reported Q2 2024 results, showing 164% revenue growth in its BayMedica subsidiary as of December 31, 2023, alongside launching Alzheimer's and Age-Related Macular Degeneration programs. Despite this, InMed recorded a $4.0 million net loss over six months and continues to depend on external financing for operations. Read the full report and analyst commentary on the TDR website!

Verano Holdings Corp (Cboe CA: VRNO, OTCQX: VRNOF) has opened Zen Leaf Norristown, its 18th dispensary in Pennsylvania and 138th in the U.S., located at 436 Egypt Road, Montgomery County. This addition to Verano's portfolio aims to serve the area's large population with features like a drive-through and in-store kiosks for patient convenience

Cannabis Policy

According to the Missouri Independent, Missouri lawmakers are considering legislation to regulate intoxicating hemp products like delta-8 THC to align with marijuana regulations, amid concerns over unregulated sales and safety. The proposed bills suggest the Missouri Department of Health and Senior Services oversee these products, potentially limiting sales to licensed dispensaries. This has sparked debate between those advocating for consistent regulation across all THC products and those opposing a dispensary monopoly, suggesting a separate regulatory system. The push for regulation highlights safety concerns, especially for minors, and addresses the unanticipated market growth of intoxicating hemp products following hemp's legalization in the 2018 Farm Bill.

The Associated Press reports that the South Carolina Senate has passed a medical marijuana bill for the second time, moving it to the House where it previously failed. Sponsored by Republican Tom Davis, the legislation proposes a restrictive program that prohibits smoking, allowing only oils, salves, patches, or vaporizers for specified conditions such as cancer and PTSD. It requires in-person doctor visits and limits patients to a two-week supply. Despite the bill's strict nature, opponents fear it could lead to recreational use and raise concerns about federal restrictions and the need for more research. Davis has championed this cause for a decade, driven by personal stories of individuals finding relief through medical marijuana.

WMUR Manchester reports on New Hampshire's renewed effort to legalize marijuana with a bill advocating for a state-controlled franchise model to oversee 15 stores, following the governor's preference. Despite opposition likening state control to being a "drug dealer," the proposal, which aims to regulate public use and impose penalties only after repeated offenses, has received preliminary approval. Lawmakers, including those previously opposed, are now pushing for progress to start the legalization process, signaling a slow but significant shift towards regulating marijuana sales in the state.

Psychedelic Capital Markets

Cybin Inc (NYSE:CYBN, Cboe CA:CYBN) reported its Q3 financial results, highlighting progress in clinical trials for mental health treatments. Key developments include positive results from its CYB003 and dDMT programs, FDA clearances, and an expanded IP portfolio. Despite these advancements, Cybin faced financial challenges, with an increase in net loss and operating expenses due to research and development costs. The company's situation underscores the financial and operational hurdles in the biopharmaceutical industry, emphasizing the importance of strategic management and development efficiency. See the TDR Website for the full report and my take as an analyst!

Numinus Wellness (TSX: NUMI) announced Rick Doblin of MAPS as a strategic advisor, focusing on MDMA-assisted therapy for PTSD. Despite the collaboration with MAPS and Doblin's role, MAPS will not participate in Numinus' $6,000,000 bought deal, nor will Integrated V.C as previously announced.. The offering is expected to close on February 16, 2024 even though certain previously announced investors are no longer participating in the offering.  

Silo Pharma (Nasdaq: SILO) reported positive preliminary results from pre-clinical studies on SP-26, its ketamine implant for treating fibromyalgia and chronic pain. The study confirmed successful encapsulation and structural stability of the implant, with no observed leakage or degradation. This research marks an initial step in developing a sustained-release pain management option. Further testing will focus on the formulation's drug release and stability. While these early findings are promising, ongoing research is required to fully assess SP-26's effectiveness and safety. If successful, SP-26 may seek FDA approval via the 505(b)(2) pathway.

PharmaDrug Inc. (CSE: PHRX, OTC Pink: LMLLF) has completed key steps for PD-001, a drug aimed at oncology and infectious diseases, enabling clinical GMP manufacturing. This progress facilitates upcoming regulatory submissions to the TGA and FDA. The company is preparing for clinical trials in Australia, with a submission planned for the next quarter. Development has focused on overcoming cepharanthine's low oral bioavailability, with ongoing stability studies to support future Phase 1 and 2 trials scheduled for Q2 2024.

Filament Health Corp. (OTCQB: FLHLF, Cboe CA: FH) has completed its first export of the botanical psilocybin drug candidate PEX010 to Israel for clinical trials at Hadassah University Hospital, targeting treatment-resistant obsessive-compulsive disorder (TR-OCD) and post-traumatic stress disorder (TR-PTSD). This move underscores the need for research into effective treatments for these conditions, given the limited therapeutic options available.

Psychedelics Policy

An Arizona Senate committee has passed a bill, sponsored by Sen. T. J. Shope (R), for the legalization of psilocybin therapy centers under medical supervision. The legislation allows for the licensing of these centers by the Department of Human Services and establishes a Psilocybin Advisory Board to guide and research the program. Medical directors are to complete specialized training, with the state set to accept center applications by January 1, 2026. This move aims to address mental health needs by offering psilocybin-assisted therapy as a treatment option.

Cryptocurrency

Bitcoin hits a new 2024 high!

In 2024, Bitcoin and Ethereum saw remarkable growth, partly due to excitement over investments from figures like Peter Thiel and the introduction of U.S. spot Bitcoin ETFs, which significantly lifted investor sentiment. Despite concerns over market valuations and external pressures, such as potential asset sales by bankrupt entities, the sector remains optimistic. The anticipation of Bitcoin's halving event, expected to constrain new supply and historically associated with price increases, contributes to a bullish market outlook. This growth, amid regulatory challenges, highlights the cryptocurrency market's dynamic nature and its potential for continued expansion. Read our full report on the TDR Website!

This social media post I put out last week is so dated! Bitcoin ETF AUM has increased by 23% in one week!

This is from the real Micahel Saylor, not the fake AI version you see in Facebook Ads……

Michael Saylor of MicroStrategy highlighted in a CNBC interview that Bitcoin ETFs have significantly driven up demand for Bitcoin, surpassing supply by tenfold due to a decade of pent-up retail interest. He attributed Bitcoin's popularity to its unique, uncorrelated asset nature, free from traditional market risks. Saylor announced MicroStrategy's rebranding as a bitcoin development company, aiming to support the Bitcoin network's growth and accumulate more Bitcoin.

AI

Daniel Ives from Wedbush Securities expects Apple to reveal its AI advancements, including a Siri update, at WWDC in June, as hinted by CEO Tim Cook. Ives suggests these developments could spark growth for Apple, especially with AI features planned for the iPhone 16 this fall, setting a price target of $250 for Apple stock. Evercore ISI's Amit Daryanani predicts an AI-enabled iPhone could lead to shorter upgrade cycles and higher prices due to increased memory needs for running large language models. Daryanani also believes Apple stands to benefit significantly from AI integration, enhancing user experience with smarter Siri functionalities and new iOS features.

Nvidia has overtaken Alphabet in market value, becoming the third largest U.S. company with a valuation of $1.83 trillion compared to Alphabet's $1.82 trillion. Driven by a 231% increase in its stock over the past year due to high demand for its AI chips, Nvidia's recent performance has placed it ahead in the S&P 500. Wall Street forecasts indicate a fourth-quarter profit of $11.38 billion for Nvidia, marking a 400% increase from last year, with revenue expected to triple to $20.37 billion.

Check out TDR Trade to Black Podcast From Yesterday

Yesterday we had the pleasure of interviewing Emily Paxhia, co-founder and Managing Partner of Poseidon. In this episode, we focus on the recent buzz surrounding cannabis rescheduling and its far-reaching implications.

How to Elevate Your Cannabis Experience Using MyTEPI | TDR Exclusive

On Yesterday’s TDR exclusive interview, we sit down with Livy McKay, CEO and founder of MyTEPI, to discuss the groundbreaking platform that's enhancing the cannabis experience through scientific insight and personalized consumer navigation. Focusing on the effects of uplift, energy, calm, and rest, this conversation explains the innovative ways MyTEPI is setting new standards in the cannabis industry.

You can help rescheduling as you have access to elected officials!