Legal marijuana sales in California have fallen sharply over the last three years, coming in at just over $1.2 billion for the first three months of 2024, according to state data. That’s the weakest three-month sales period for licensed cannabis companies since the second quarter of 2020, when legal sales …
The Daily Hit: June 4, 2024
The Daily Hit is a recap of the top financial news stories for Tuesday, June 4, 2024. On the Site Green Thumb to Boston Beer: Let’s talk In a letter, GTI suggested that Boston Beer could be more proactive – rather than reactive – since young people are drinking less …
Critics of Lykos’ MDMA trials come out in force at meeting as FDA committee denies approval request
A panel of independent health advisers convened Tuesday to consider a landmark proposal to approve MDMA as a treatment for post-traumatic stress disorder. In the end, Lykos’ MDMA drug approval proposal to treat PTSD failed with a 1-10 vote, reducing the chance for federal approval later this summer. The Psychopharmacologic …
Flora Growth forms joint venture to tap U.S. cannabis beverage market
Flora Growth Corp. (NASDAQ: FLGC) is doubling down on its efforts to expand in the U.S. cannabis market, announcing a joint venture with Althea Group Holdings to enter the hemp-derived beverage sector, the company announced Tuesday. The 50/50 joint venture, named Peak USA LLC, will combine Flora’s brand development, sales, …