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Welcome to the Cannabis Countdown, the Legal Marijuana Industry’s Number One Curated Weekly News Recap.
In This Week’s Edition, We Recap and Countdown the Top 10 Cannabis and Psychedelics Industry News Stories for the Week of May 3rd – 9th, 2021.
Without further ado, let’s get started.
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A New Study Shows That MDMA, Known as Ecstasy or Molly, Can Bring Relief When Paired With Talk Therapy to Those With Severe Post-Traumatic Stress Disorder
In an important step toward medical approval, MDMA, the illegal drug popularly known as Ecstasy or Molly, was shown to bring relief to those suffering from severe post-traumatic stress disorder when paired with talk therapy.
Students at Humboldt University of Berlin Can Now Expand Their Study of Medical Cannabis By Taking Part in an Interdisciplinary Cannabis Research Class
Canadian cannabis giant Aurora Cannabis (TSX: ACB) (NYSE: ACB) (FRA: 21P) via its Berlin-based subsidiary Aurora Europe is supporting a medical cannabis-related educational initiative in Germany with €38,000 ($46,198). Created by Humboldt University in 2013, the cannabis science course was conceived with the idea of designing the “scientific personalities of students.” According to the class’s website, the main idea of the program is to bring ancient cultivars back into use through science for the benefit of society.
The Opening in Houston’s River Oaks District is Field Trip’s First Location in Texas With Construction Commencing in Other U.S. and Canadian Cities
Field Trip Health (CSE: FTRP) (OTC: FTRPF) announced today the opening of its fifth location in the United States in the city of Houston, TX. Located in the River Oaks District, the Houston location is the second Field Trip Health center to open this year. Field Trip also announced that it has entered into leases and has commenced, or will soon commence, construction to build Field Trip Health centers in San Diego, CA, San Carlos, CA, Seattle, WA, Washington DC and Fredericton, NB.
The State Senate Already Had Approved the Alabama Compassionate Act, Senate Bill 46, by a 21-8 Vote in February After a Short Debate
Alabama took a major step toward becoming the 39th state in the nation to legalize a medical cannabis market, albeit a relatively restrictive one, after the House passed an amended bill by a vote of 68-34 Thursday.
The Texas House of Representatives on Thursday Approved a Bill That Would Require the State to Conduct a Study Into the Therapeutic Potential of Psychedelics like Psilocybin and MDMA
This comes as numerous marijuana reform measures move through the legislature. The legislation, sponsored by Rep. Alex Dominguez (D), passed by a vote of 134-12. It had advanced on second reading via a voice vote a day earlier. It now heads to the Senate.
Oklahoma’s Medical Cannabis Market is One of the More Unique
With lax regulations and a simple pathway to licensing, the state created a market with over 10,000 actively licensed dispensaries, growers, and processors for a state with approximately 644,000 registered patients as of 2019-2020.
Psychedelic Drugs, Such as Lysergic Acid Diethylamide (LSD), Was of Interest to Molecular Psychiatry in the 1950s Due to its Considerable Chemical Similarity to Serotonin (5-HT)
In the context of a highly regulated system, the use of psychedelics in psychiatry is not necessarily novel, but a reemerging concept. They are generally considered Schedule I controlled substances (psilocybin, DMT, MDMA), which traditionally are considered to purport no medical value and high potential for abuse.
Cultivation and Processing Operations Are Fetching Over $100 Million and Dispensary Licenses Are Commanding Prices of $20 Million-$35 Million for Each Storefront as the State’s Retail Sector Consolidates
Merger and acquisition activity is sizzling in Pennsylvania, with more than $400 million worth of deals announced since March alone, as local cannabis businesses cash out and multistate operators seek or expand footholds in the rapidly growing mid-Atlantic market.
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.
The Combined MSO Will Operate in 11 States, With a Total of 22 Growing and Processing Facilities and 126 Medical and Adult-Use Cannabis Dispensaries Stretching Across the United States
Florida-based Trulieve (CSE: TRUL) (OTCQX: TCNNF) announced an agreement to acquire Arizona-headquartered Harvest Health (CSE: HARV) (OTCQX: HRVSF) in an all-stock deal valued at about $2.1 billion and touted as the largest U.S. marijuana transaction to date.
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