Delta, Kelowna, BC – May 7, 2021 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site,
www.potcasts.ca
release today’s podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:
Investor Ideas Potcasts #561, Cannabis News and Stocks on the Move; (CSE: XTRX), (CSE: TER), (NASDAQ: CRON) (TSX: CRON), (CSE: TRIP) (NASDAQ: MNMD)
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Today’s podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com “Potcast” featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.
Today’s podcast is sponsored by Phyto Extractions Inc. (
CSE:XTRX
), an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, BC at its co-located Health Canada Licensed Standard Processing (extraction, no cultivation), Sales (extracts, topicals, and edibles) through Adastra Labs Inc. and Analytical Testing Laboratory through Chemia Analytics Inc. Adastra Labs also has a pending Health Canada R&D license amendment.
In today’s podcast we look at a few public company announcements.
TerrAscend Corp. (
CSE:TER
) (
OTCQX: TRSSF
), a leading North American cannabis operator,
today announced
the grand opening of its second New Jersey medical cannabis dispensary.
The 6,500 square foot dispensary, located at 1865 Springfield Avenue in Maplewood, features interactive product displays and a large “bud bar” where customers can see and smell flower products before purchasing. Patients can access a wide selection of TerrAscend’s Kind Tree flower, vapes and syringes, as well as an assortment of other brands. A designated express pickup area for online orders and digital menus in the lobby make for quick and easy shopping.
TerrAscend is vertically integrated in New Jersey with one of the state’s largest cultivation and manufacturing facilities.
“To say that we’re excited about the opening of The Apothecarium Maplewood, would be an understatement,” said Jason Wild, Executive Chairman of TerrAscend. “The size, aesthetic and throughput capacity of our new dispensary combined with the availability of high-quality Kind Tree flower, vapes and syringes from our recently completed indoor facility, sets The Apothecarium Maplewood up to be one of the top performing dispensaries in the U.S.”
Greg Rochlin, CEO of TerrAscend Northeast, added, “Providing our high-quality products and service to patients and caregivers is core to TerrAscend’s mission. I believe this dispensary sets the bar for quality in the state and I’d like to thank our team for their hard work in creating this beautiful space.” Mr. Rochlin continued, “I would also like to thank the newly seated New Jersey Cannabis Regulatory Commission for allowing The Apothecarium Maplewood to be the first Commission approved dispensary in the state.”
Red Light Holland Corp. (
CSE: TRIP
), an Ontario-based corporation engaged in the production, growth and sale of a premium brand of magic truffles to the legal, recreational market within the Netherlands,
recently provided an update
on its intellectual property as the Company has received patent pending status for the customization and personalization of microdosing kits and protocols based on biometric and movement data, for the Company’s natural occurring consumer goods product consisting of raw, natural and unprocessed magic truffles.
“Biometric data, especially our pose and the way we move, is an untapped gold mine of data that can help us understand what is happening in our subconscious. Utilizing this data to help people find the psilocybin microdose that works best for them can potentially be a breakthrough in personalization of wellness applications,” said Sarah Hashkes, Red Light Holland’s Chief Technology and Innovation Officer. “This innovation brings together two of the most promising tools we have to promote growth, embodiment practices and psychedelics and is part of the larger scope of scientifically based support structures Red Light Holland is creating to ensure the increase in neural plasticity caused by psychedelics is accompanied with a ‘set and setting’ that help people make the most out of naturally occurring psilocybin.”
“Working with natural substances and combining them with cutting edge innovation and proprietary technology to hopefully help people as opposed to limiting people, is now the way of the future,” added Todd Shapiro, CEO and Director of Red Light Holland. “Red Light Holland’s progressiveness, creativity and pure belief in providing access, coupled with Sarah Hashkes’ expertise, and the help of our Senior Advisor, IP lawyer and psychedelics advocate, Graham Pechenik, generates the precise combination of experience, forethought and understanding of natural occurring psilocybin to potentially prove out the benefits of and change the stigma around the use of these magical substances. Learning about these potential benefits and being a part of developing precise dosages for the betterment of consumers is now a more realistic goal for Red Light Holland.”
Red Light Holland’s newest innovation also incorporates the ground-breaking advancements in its iMicro Digital Care App and its Wisdom Truffle, further contributing to a growing technology ecosystem designed to allow consumers to obtain the greatest possible benefit from their microdosing journeys.
Evidence for the benefits of psilocybin continues to accumulate, and people who microdose psilocybin-containing mushrooms report improvements in mood, focus, creativity, and general well-being, as well as the amelioration of symptoms of mental health issues. (See, e.g., Anderson et al., Microdosing psychedelics: personality, mental health, and creativity differences in microdosers. Psychopharmacol. (Berl). 236, 731-740 (2019); Lea et al., Psychedelic Microdosing: A Subreddit Analysis. J. Psychoactive Drugs 52, 101-112 (2020).)
Meanwhile, acceptance of psilocybin continues to spread, with voters in Oregon legalizing the use of psilocybin and psilocybin-containing fungi for therapy, and numerous other jurisdictions moving toward legalization or decriminalization. Despite this growing body of evidence, and despite the increasing acceptance of its use both as a medicine and for the betterment of healthy people, little is currently known about how dosage amounts and protocols can be optimized for specific individuals. This is particularly true in the case of microdosing, and those interested in achieving the benefits of microdosing must generally rely on trial and error, or expensive coaches, and there is no assurance that either will lead to optimal outcomes. Working to overcome these hurdles, ongoing research by inventor Sarah Hashkes, CTIO of Red Light Holland, has resulted in a novel approach to microdosing, which enables personalized dosing amounts and protocols that are based on collected biometric and movement data, and correlated with the qualities and characteristics of Red Light Holland’s natural products.
Mind Medicine (MindMed) Inc. (
NASDAQ: MNMD
) (
NEO: MMED
), a leading psychedelic-inspired medicine company
announced
the launch of its Project Angie to advance the development of psychedelics, including LSD, to treat pain conditions. MindMed is currently exploring two primary clinical indications for the treatment of pain.
For the commencement of Project Angie, MindMed will initiate a study of LSD in a severe pain indication. MindMed is currently preparing a pre-IND briefing package for this Phase 2a Proof of Concept study which it plans to submit to the FDA in the second half of 2021. In addition, the Company is also evaluating a second indication in a common, often debilitating, chronic pain syndrome.
Patients experiencing chronic pain represent a large and growing segment of the population and, according to IQVIA, the global market for analgesics is expected to grow over $31 billion by 2030. At the same time, overuse of opioids in the treatment of pain has contributed to the opioid epidemic in the United States and around the world. There has been little innovation in the pain market in decades and the treatment paradigm is still dominated by opioids and nonsteroidal anti-inflammatory drugs (NSAIDs).
Preliminary evidence, including a clinical study co-authored by MindMed collaborating researchers Prof. Dr. Matthias Liechti and Dr. Kim Kuypers, suggests that psychedelics may offer an entirely novel mechanism of action for treating pain, which could ultimately offer patients a new treatment option. The exact mechanisms by which psychedelics may carry out their analgesic effect have not been fully characterized but may involve direct effects on endogenous pain modulation pathways. This mechanism is particularly relevant as altered function, or dysfunction, of these pain modulation pathways has been implicated in a range of pain syndromes.
“Evidence dating back to the 1950s suggests that LSD and other psychedelics may have analgesic effects, but this treatment area remains largely untapped by companies studying psychedelics, with the majority of research focusing solely on psychiatric indications” said MindMed Chief Development Officer, Rob Barrow.
MindMed CEO & Co-Founder J.R. Rahn said “With the launch of Project Angie, we seek to align closely with MindMed’s core mission to improve mental health and combat substance use for the many patients in need. If we can help to develop a new paradigm to treat pain, it may have the potential to greatly reduce the use of addictive medicines such as opioids currently ravaging society and its mental health.”
Cronos Group Inc. (
NASDAQ: CRON
) (
TSX: CRON
),
today announced
its 2021 First Quarter business results.
“This quarter for Cronos Group would not have been possible without the tenacious and innovative efforts put forward by every Cronos employee across our organization. In the first quarter of 2021 our results in Canada were impacted by market dynamics due to the COVID-19 pandemic and ensuing stay-at-home orders and various other restrictions. Despite this, we continued to push forward our innovation pipeline and execute on our strategy, which was a true testament to the strength of our team,” said Kurt Schmidt, President and CEO, Cronos Group.
“In March, we were recognized as one of Fast Company’s Most Innovative Companies for our joint venture with Ginkgo Bioworks to produce cannabinoids using biosynthesis. Our partnership with Ginkgo is critical to executing our Company’s vision: to transform industries through cannabinoid innovation. A critical component to commercializing fermented cannabinoids is a Health Canada processing license, which Cronos Fermentation received in April. Receiving this license is a great accomplishment and I am looking forward to bringing our innovative product pipeline to market over time utilizing this technology. This partnership is a global effort for our organization, and it is a great demonstration of how our research and development and innovation teams across regions work together to push critical projects forward. Last month, we also announced our U.S. Cronos Employees Political Action Committee as well as a robust Marketing Code of Conduct that all of our brands and employees have pledged to uphold. We’re proud to be on the record supporting responsible legalization efforts in the United States.”
Financial Results
First Quarter 2021
- Net revenue of $12.6 million in Q1 2021 increased by $4.2 million from Q1 2020. The increase year-over-year was primarily driven by continued growth in the adult-use Canadian cannabis market, sales in the Israeli medical cannabis market, and an increase in sales in the U.S. segment driven by new U.S. hemp-derived CBD products introductions, partially offset by strategic price reductions on various adult-use cannabis products in Canada in the second half of 2020.
- Gross loss of $3.0 million in Q1 2021 decreased by $3.5 million from Q1 2020. The decrease in losses year-over-year was primarily driven by an increase in net revenue and a decrease in inventory write-downs in the Rest of World (“ROW”) segment.
- Adjusted EBITDA loss of $37.1 million in Q1 2021 increased marginally from Q1 2020. The marginal increase in losses year-over-year was primarily driven by an increase in sales and marketing costs due to brand development in the U.S. segment, and an increase in research and development (“R&D”) costs driven by increased spending on product development and developing cannabinoid intellectual property. Partially offset by decreases in sales and marketing spend in the ROW segment, gross loss and general and administrative expenses.
Once again, today’s podcast is sponsored by Phyto Extractions Inc. (
CSE:XTRX
), an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, BC at its co-located Health Canada Licensed Standard Processing (extraction, no cultivation), Sales (extracts, topicals, and edibles) through Adastra Labs Inc. and Analytical Testing Laboratory through Chemia Analytics Inc. Adastra Labs also has a pending Health Canada R&D license amendment.
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