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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Republican Representative David Joyce is set to introduce the STATES 2.0 Act, which aims to de-schedule state-legal cannabis at the federal level. This legislative move could significantly impact the legal landscape for cannabis businesses in the United States.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:46 pm

In Thursday's after-market session, several healthcare stocks experienced significant movements. Altimmune (ALT) saw a 45.2% increase, while Ampio Pharmaceuticals (AMPE) dropped by 20.5%. Other notable gainers include NovaBay Pharmaceuticals (NBY), China Pharma Holding (CPHI), NeuBase Therapeutics (NBSE), Minerva Surgical (UTRS), and Akanda (AKAN). On the losing side, Corbus Pharmaceuticals (CRBP), Eagle Pharmaceuticals (EGRX), bioAffinity Technologies (BIAF), Quoin Pharmaceuticals (QNRX), and LumiraDx (LMDX) saw declines in their stock prices.

Portfolio Pulse from Benzinga Insights

November 30, 2023 | 9:31 pm

Senate Majority Leader Chuck Schumer stated that the Senate is close to a floor vote on the SAFER Banking Act, which aims to reform marijuana banking laws. The bill requires more GOP support to reach the 60-vote threshold for passage. Schumer emphasized the public's support for marijuana legalization and the need to rectify harms caused by the drug war, particularly in minority communities. The bill includes provisions to support small minority businesses and may be further amended to address cannabis expungements and gun rights for consumers. Schumer has not personally used marijuana but supports legalization. Former NBA star Al Harrington, owner of cannabis company Viola, participated in the interview.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 4:52 pm

Republican presidential candidate Vivek Ramaswamy plans to remove federal restrictions on marijuana and psychedelics for veterans with PTSD if elected. He supports descheduling certain substances and has criticized federal prohibition on marijuana. Despite this, he voted against Ohio's state-level legalization due to conflicts with federal law and concerns over federal power overreach. His stance has been seen as inconsistent, especially with his proposal to expand the DEA while reducing other federal agencies.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 6:26 pm

The Drug Enforcement Administration (DEA) plans to significantly increase domestic production of delta-9 THC and other cannabinoids for research purposes in 2024. The agency also plans to maintain high levels of psychedelics production. The DEA has proposed nearly doubling the amount of psilocybin, psilocyn, and delta-9 THC manufactured compared to initial levels set for this year, while quintupling the production of ibogaine. The DEA's move comes amid a transition away from cannabinoid imports to domestic manufacturing.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 6:45 pm

Senate Majority Leader Chuck Schumer plans to amend the Secure and Fair Enforcement Regulation (SAFER) Banking Act to include criminal justice provisions. The amendments will be borrowed from a separate federal legalization bill, the Cannabis Administration and Opportunity Act (CAOA), and will include measures such as resentencing for current federal cannabis prisoners. Despite uncertainties around the new GOP House speaker's stance on cannabis, key Senate Republicans are prepared to move forward with the legislation.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 3:16 pm

In Thursday's pre-market session, several healthcare stocks saw significant movement. Panbela Therapeutics, Cellectis, CareDx, Avenue Therapeutics, Genprex, and Akanda saw gains, while Outlook Therapeutics, DarioHealth, Acurx Pharmaceuticals, Moderna, Sonendo, and Envista Holdings experienced losses. Q3 earnings reports for DarioHealth, Moderna, and Envista Holdings were released recently.

Portfolio Pulse from Benzinga Insights

November 02, 2023 | 1:06 pm

A key House committee will consider amendments to a large-scale spending bill that would prevent drug testing of certain federal job applicants for marijuana and end the blockade that has kept Washington, D.C. from legalizing cannabis sales. The amendments were filed to Fiscal Year 2024 appropriations legislation covering Financial Services and General Government (FSGG). The GOP-controlled House Rules Committee, which has rejected numerous drug policy reform measures in recent months, will take up the amendments.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 3:00 pm

Massachusetts cannabis businesses are challenging the constitutionality of federal drug laws, according to a Politico report. This could potentially impact the legal landscape for cannabis businesses across the US.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 6:30 pm

The newly elected U.S. House Speaker, Rep. Mike Johnson, has a history of voting against marijuana-related measures, including banking, research, and legalization. This could potentially impact the advancement of the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which is currently being worked on by Senate leadership. Johnson's stance on marijuana could also affect the future of cannabis research and legalization efforts.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 7:37 pm

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