The Daily Hit: June 24th, 2020

It’s time for your Daily Hit of cannabis financial news for June 24th, 2018.

On the Site

 

Originally Seen On Cannabis Law Report – The Failures of California Cannabis

An overview highlighting the regulatory failures of cannabis in California. 

Aurora Cannabis’ Hard Decisions Make Analysts Happy

Aurora Cannabis Inc. (NYSE:ACB) announced several difficult moves from the company including the layoffs of numerous employees and the closing of several facilities. The Canadian cannabis company laid off 25% of Aurora’s SG&A staff, most of those to take place immediately and a roughly 30% reduction in production staff over the next two quarters. The cuts went to the highest levels including a restructuring of the executive leadership team and the recently announced retirement of President Steve Dobler. 

GW Pharmaceuticals Epidiolex Now Exempt From Controlled Drug Requirements

GW Pharmaceuticals plc (Nasdaq: GWPH) said that the UK Home Office has reclassified Epidiolex, the company’s cannabidiol medicine as a Schedule 5 drug. The company said that the change will take effect immediately in all four of the constituent nations of the UK – with Northern Ireland enacting separate legislation – and sees the medicine move from Schedule 2 to Schedule 5 under the Misuse of Drugs Regulations 2001.

 

In Other News

Alcanna Inc. Completes Secondary Offering to Aurora Cannabis of $27.6 Million

Alcanna has purchased 9,200,000 common shares from an indirect, wholly-owned subsidiary of Aurora at a price of $3/share. 

Kaitlin Domangue

Kaitlin Domangue

Kaitlin is a 23-year-old wife and mom to three children. She is a financial reporter for the Green Market Report and a freelance writer for other businesses in the cannabis space.


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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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