StaffThe Daily Hit is a recap of the top financial news stories for Tuesday, November 12, 2024.
On the Site
Eaze secures $10M to resurrect cannabis operations after foreclosure drama
The company did not specify whether previously announced layoffs and closures would be reversed.
New York cannabis board extends social equity deadline, offers payment plan for ROs
State officials also announced it will deploy a seed-to-sale tracking system to replace manual reporting.
Enveric inks $62M licensing deal for psilocin prodrug
The biotech will concentrate on its “trip-free” compound, especially following recent FDA concerns on psychedelic trial designs.
Earnings:
- Ascend Wellness trims costs in third quarter as losses mount
- Cronos sales jumps 38% as Spinach brand nabs top spots in Canada
- GrowGeneration sees more losses amid restructuring
- Safe Harbor Financial posts profit on lower costs, higher loan income
- Weedmaps reports increased profit in third quarter, despite mounting shareholder complaints
In Other News
New Jersey
New Jersey’s Cannabis Regulatory Commission announced Monday that it would enforce its statewide ban on certain hemp products following a federal ruling. The law, which took effect on October 12, aims to curb the sale of psychoactive hemp items not derived from naturally occurring chemicals.
Inner State Inc.
Inner State Inc., a women’s health and wellness research and development company, and The Ohio State University initiated a research project to identify psilocybin mushroom genetics, novel extracts and potential bioactivity.
