Top Cannabis Companies Getting Involved With Magic Mushrooms to Treat Depression and Addiction
PALM BEACH, Florida – Oct. 28, 2019 /AxisWire/ Another drug may soon follow it the footsteps of cannabis — psilocybin mushrooms. In fact, analysts argue mushrooms may hold untapped medical properties that could be used to help treat depression and addiction. Better, the U.S. FDA already granted “breakthrough status” to COMPASS Pathways’ psilocybin-assisted therapy in October 2018, which allows the FDA assist in the development of a promising drug to treat serious illnesses. In addition, researchers at New York University found psilocybin mushrooms caused a “rapid and sustained” reduction in anxiety and depression in patients with cancer, as reported by the Financial Post. In addition, according to healthline.com, studies have shown that cordyceps (medicinal mushrooms) boost exercise performance, improve memory and sex drive, slow growth of tumors and can improve heart health. As excitement builds, it’s opening a range of opportunity for companies that have already established launching cannabis products including The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF), GW Pharmaceuticals (NASDAQ: GWPH), Tilray Inc. (NASDAQ: TLRY), Aphria Inc. (NYSE: APHA) (TSX: APHA), and Charlotte’s Web Holdings Inc. (CSE: CWEB) (OTCQX: CWBHF).
The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced that it has completed initial development of a formula for mushroom coffee to launch a new line of mushroom infused coffee mixes through its wholly owned subsidiary Flourish Mushroom Labs Inc. Yield Growth has engaged developers to create additional products to add to its base catalogue of mushroom formulas acquired on October 10, 2019. Through its subsidiary Flourish Mushroom Labs, intends to commercialize the formulas, going to market first with mushroom based soups and coffees. The first product developed by since its acquisition of the edible mushroom catalogue is the mushroom coffee. The mushroom coffees will be infused with various wild mushrooms such as Lion’s Mane, Turkey Tail, Reishi, Shitake, Chagas and Cordyceps. Yield Growth plans to go into testing in the next quarter for these products so they can go to market in early 2020. “We are excited about the potential for therapeutic use of legal edible mushrooms and intend to launch our coffee products in Canada and the U.S. in 2020,” says Penny White, Yield Growth CEO. “We are also researching the legality of developing products or conducting trials on products that contain psilocin or psilocybin from magic mushrooms for potential medical use.”
Other related developments in Yield Growth’s industry include:
GW Pharmaceuticals PLC (NASDAQ: GWPH) will announced on November 5th, 2019 its financial results for the third quarter ending September 30th, 2019. GW will also host a conference call the same day at 4:30 p.m. ET. Conference call information will be provided in the financial results press release. A replay of the call will also be available through the Company’s website shortly after the call.
Tilray Inc. (NASDAQ: TLRY) just announced it has successfully imported medical cannabis into the United States from Canada in support of a new clinical trial. The study will test the efficacy of medical cannabis in treating patients with breast cancer who are suffering from taxane-induced peripheral neuropathy (TIPN) secondary to treatment with paclitaxel or docetaxel. This clinical trial is the first human study testing the effectiveness of medical cannabis to treat TIPN. “We’re excited to support this groundbreaking, first-of-its-kind trial seeking to find a new treatment option for TIPN,” says Philippe Lucas, Tilray’s Vice President of Global Patient Research and Access. “Tilray is committed to advancing cannabis research through its support of clinical trials around the world as we continue to enhance our understanding of the potential benefits of medical cannabis.” Led by Diana Martinez, M.D., Professor of Psychiatry at Columbia University Irving Medical Center (CUIMC), and Margaret Haney, Ph.D., Professor of Neurobiology (in Psychiatry) at CUIMC, the clinical trial will be a randomized placebo-controlled study in which half of participants will receive an investigational product containing a combination of THC and CBD and the other half will receive a product with no active cannabinoids. Participants will be treated twice daily for eight weeks. Researchers are currently recruiting patients for the study.
Aphria Inc. (NYSE: APHA) (TSX: APHA) reported its results for the first quarter ended August 31, 2019. All amounts are expressed in thousands of Canadian dollars, unless otherwise noted and except for per gram, kilogram, kilogram equivalents, and per share amounts. “We are pleased to report a second consecutive quarter of profitable growth with strong contribution from our Canadian cannabis operations. Our success was also driven by our international business and the strength and growth of our brands, particularly Broken Coast, despite a small fire at our British Columbia facility at the end of the quarter. This solid start to the year keeps us on track to achieve our fiscal year 2020 financial outlook,” stated Irwin D. Simon. “Going forward, we remain focused on our highest-return priorities both in Canada and internationally as our team furthers the development of our medical and adult-use cannabis brands to drive growth through innovation and return value to shareholders.”
Charlotte’s Web Holdings Inc. (CSE: CWEB) (OTCQX: CWBHF) and Nielsen just announced an analytic relationship between the world’s leading CBD brand with the world’s leading market intelligence company. Together, Nielsen and Charlotte’s Web will help guide the U.S. retail market for consumer-packaged goods (CPG) companies through the evolution of the CBD space. Mirroring the changing tide happening across the U.S. retail and CPG industry, this new relationship marks an open and symbiotic relationship that is forming between the emerging CBD industry and the U.S. retail and manufacturing community. Charlotte’s Web is an industry pioneer and the market leader of hemp-CBD extract products. Leveraging its deep product knowledge and category vision, this new relationship will provide unprecedented visibility into market-leading trends, highlighting segments, brands and products that are resonating with consumers in the CBD market. This alliance will also provide insight into consumer attitudes, product preferences, use occasions and future intent tied to consumer interaction points within CPG categories which will help establish Charlotte’s Web as thought leaders and category captains of the hemp CBD category. Collectively, this powerful suite of information will enable U.S. CPG manufacturers and retailers to more easily measure and predict the impact of hemp CBD on the CPG industry and strategize accordingly. The announcement with Charlotte’s Web comes as Nielsen steadily develops a full suite of cannabis measurement capabilities, inclusive of strategic alliances such as the one with Headset, the leading data and analytics service provider measuring and analyzing the legal Cannabis dispensary channel.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third- party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM expects to be compensated three thousand five hundred dollars for news coverage of current press releaseS issued by The Yield Growth Corp. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact email: