Compass Pathways (NASDAQ: CMPS) plans to cut about 30% of its workforce and halt early-stage research programs as the firm focuses resources on completing late-stage trials of its lead COMP360 program. The London-based company announced the restructuring alongside third-quarter financial results that showed a widening net loss of $38.5 million …
The Internal Revenue Service continues to be a thorn in the side of state-legal marijuana businesses, even as their hemp industry cousins largely dodge the taxman’s scrutiny, creating an increasingly lopsided playing field. “Hemp is not subject to 280E, or is at least reasonably interpreted as not being subject to …
The Daily Hit is a recap of the top financial news stories for Wednesday, October 30, 2024. On the Site DEA begins picking witnesses for December cannabis hearing NCIA confirms it is among those approved to speak at the hearing. Read more here. Massachusetts cannabis regulators approve new industry rules …
Australian biotech firm Tryptamine Therapeutics Limited (ASX: TYP) secured A$6 million in new funding through a strategic placement. The placement, priced at A$0.02 per share, was backed by cornerstone investors that included Merchant Biotech Fund and biotech investor Daniel Tillett, who will join the company’s board as a non-executive director, …