The Daily Hit is a recap of the top financial news stories for Jan. 10, 2024.
On the Site
MSOs Not Rushing to Open New York Retail Shops
Although six marijuana multistate operators got the thumbs up from New York regulators last month to open retail shops, thus far only one has done so, potentially indicating that the companies are deprioritizing retail in the state in favor of the wholesale market. Read more here.
Connecticut Marijuana Sales Pass $274 Million in First Year of Recreational
One of New England’s newest adult-use cannabis markets, Connecticut, surpassed $274 million in total marijuana sales last year with its 31 dispensaries, and ended 2023 with the highest month of sales in December, the state announced Wednesday. Read more here.
PharmaTher Expecting FDA Approval for Ketamine Treatment in April
Toronto-based PharmaTher Holdings Ltd. (OTCQB: PHRRF) (CSE: PHRM) is expecting to get full approval from the U.S. Food and Drug Administration (FDA) in April for a ketamine-based treatment it’s developed to be used for a wide array of “pain, mental health, and neurological disorders,” the company announced Wednesday. Read more here.
Zuanic Initiates Coverage on StateHouse, Gold Flora
Cannabis equity analyst Pablo Zuanic of Zuanic & Associates has initiated coverage on Statehouse Holdings Inc. (OTC: STHZF) with a neutral rating and Gold Flora (OTC: GRAM) with an overweight rating. Read more here.
Willow Biosciences Signals Commercial Leap for Synthetics
Biotech firm Willow Biosciences Inc. (TSX: WLLW) (OTCQB: CANSF) announced a record rise in its 2023 revenue and outlined an ambitious plan for further growth in 2024. Read more here.
In Other News
Tilray Brands believes it can get into the medical marijuana business in the U.S. pretty quickly if the Biden administration reclassifies cannabis as a Schedule 3 drug sometime this year, CEO Irwin Simon tells WSJ. Read more here.
Akerna Corp. (Nasdaq: KERN) (“Akerna”) announced a special stockholder meeting scheduled for Jan. 29, to vote on the proposed merger with Gryphon Digital Mining, Inc. Read more here.