Streetbeat News

AKAN

Akanda Corp.

https://www.akandacorp.com

Industry

Drug Manufacturers - Specialty & Generic

Akanda Corp., through its subsidiaries, engages in the cultivation, manufacture, and distribution of cannabis products in the United Kingdom, Lesotho, and internationally. It intends to supply cannabis based medical and wellness products. The company was incorporated in 2021 and is headquartered in New Romney, the United Kingdom.

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In Monday's intraday session, several healthcare stocks experienced significant movements. Notably, 4D Molecular Therapeutics (FDMT) surged 75.2%, while NanoString Technologies (NSTG) plummeted by 70.9%. Other notable gainers include Yield10 Bioscience (YTEN) and MorphoSys (MOR), with increases of 61.76% and 50.76% respectively. On the losing end, Invitae (NVTA) and DMK Pharmaceuticals (DMK) saw declines of 61.9% and 52.5%.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 5:31 pm

In Friday's intraday session, several healthcare stocks experienced significant movements. Intelligent Bio Solutions (INBS) saw a notable increase of 108.5%, while Atara Biotherapeutics (ATRA) rose by 51.8%. On the downside, Cingulate (CING) dropped by 52.1%, and Biofrontera (BFRI) fell by 35.59%. These movements reflect the volatile nature of healthcare stocks in the market.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 5:31 pm

In Wednesday's pre-market session, several healthcare stocks experienced significant movements. Kura Oncology (KURA) saw a substantial rise of 39.6%, while Redhill Biopharma (RDHL) and Akanda (AKAN) also posted notable gains. Conversely, AquaBounty Techs (AQB) and vTv Therapeutics (VTVT) were among the stocks that faced declines. The movements reflect changes in the market value of these companies' outstanding shares.

Portfolio Pulse from Benzinga Insights

January 24, 2024 | 1:05 pm

Akanda Corp has filed an F-3 form with the SEC for a mixed shelf offering, allowing the company to issue various types of securities up to a total of $5 million. This move could potentially dilute current shareholders but also provides the company with a mechanism to raise capital flexibly over time.

Portfolio Pulse from Charles Gross

January 18, 2024 | 7:22 pm

In Tuesday's pre-market session, health care stocks saw significant movement. MorphoSys, Modular Medical, Akso Health Group, Assure Hldgs, Gain Therapeutics, and Societal CDMO were among the gainers, with increases ranging from 11.49% to 15.1%. Conversely, Allakos, Accelerate Diagnostics, Atreca, Evaxion Biotech, Inventiva, and Akanda were the losers, with declines between 10.64% and 56.5%.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 1:05 pm

Maine lawmakers rejected a bill proposed by Sen. Joe Baldacci to remove marijuana from the state's criminal code and expunge past convictions. The bill aimed to decriminalize marijuana possession and trafficking, eliminate mandatory minimum sentences for marijuana offenses, and order the expungement of past convictions. The Criminal Justice and Public Safety Committee voted 8–2 against the bill over concerns of lacking regulatory framework. An amended version suggests a stakeholder group review and report on potential changes to the criminal code. The bill now moves to the full legislature but faces challenges after the committee's majority voted against it.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:58 pm

Rep. Steve Cohen (D-TN) has urged the DEA to reschedule marijuana to Schedule III, following the HHS's recommendation. The DEA has the final authority and is currently reviewing the matter. The rescheduling debate has received input from various stakeholders, including former U.S. attorneys, governors, and DEA heads, with differing opinions on the best course of action. The DEA is also addressing other controlled substances, such as psychedelics and THC in Georgia pharmacies.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 4:05 pm

In Wednesday's after-market session, several healthcare stocks experienced significant movements. Portage Biotech (PRTG) led the gainers with a 20.6% increase, while Biora Therapeutics (BIOR) headed the losers with an 11.5% decline. Other notable gainers included BIMI Intl Medical (BIMI), Molecular Partners (MOLN), Nemaura Medical (NMRD), Bright Green (BGXX), and Celularity (CELU). On the losing side were ABVC BioPharma (ABVC), ENDRA Life Sciences (NDRA), Akanda (AKAN), Ocean Biomedical (OCEA), and Shuttle Pharmaceuticals (SHPH).

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 9:31 pm

The DEA has informed Congress that it has the final say on marijuana scheduling decisions, despite HHS's recommendation to reclassify marijuana to Schedule III. The DEA is currently reviewing the recommendation, but the timeline for completion is unclear. Lawmakers and various groups have expressed differing opinions on the matter, with some urging for descheduling and others for maintaining its Schedule I status. The DEA also warned Georgia pharmacies against dispensing THC, as marijuana remains a Schedule I drug.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 7:46 pm

The Colombian Senate has postponed a bill to legalize marijuana, requiring the legislative process to restart next year. The bill's failure was attributed to misinformation and political maneuvers. Advocates argue that prohibition wastes resources and strengthens criminal mafias, while legalization could bring tax revenue and quality control. The bill had passed the Chamber of Representatives but stalled in the Senate. Colombian President Petro has criticized the global drug war and suggested legalization to weaken the illicit market.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 4:46 pm

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