Hypha Labs Inc. (OTC: DIGP), formerly known as Digipath, announced its transition from the cannabis industry to the emerging market of functional mushrooms, with a particular focus on psilocybin. The company said it has developed a patent-pending bioreactor technology that aims to streamline the production of active ingredients found in …
First-quarter cannabis industry sales indicate seasonal lull
While cannabis has its own unique considerations, it aligns with general retail on at least one front: Cannabis retailers typically experience a drop in sales in the first quarter, with the come-down from end-of-year holiday celebrations translating to a decrease in purchases. 2024 looks to be no different. Equity analyst …
DEA resists permitting psilocybin for terminal patients under ‘Right to Try’
A long-running showdown between a doctor and the U.S. Drug Enforcement Administration that could affect the legal status of psychedelics is heating up. The agency last week urged the Ninth Circuit Court of Appeal to block the physician’s efforts to use psilocybin to treat depression in terminally ill cancer patients, …
Number of the Week: $28.5 million
$28.5 million – Total retail cannabis sales reported on 4/20 in Michigan Operators in Michigan reported more than $28.5 million in cannabis sales on Saturday, the unofficial cannabis holiday known as 4/20. That total was up 32% from last year’s $21.6 million in sales on the day, according to data …