Streetbeat News

TRUFF

Red Light Holland Corp

Industry

Other Food Crops Grown Under Cover

Open

0.03

Mkt cap

16M

Volume

164K

High

0.04

P/E Ratio

-4.00

52-wk high

0.06

Low

0.03

Div yield

N/A

52-wk low

0.02

The Department of Defense Health Agency is funding a trial for PTSD treatment using Seelos Therapeutics' intranasal ketamine, SLS-002. Cybin Inc. reported strong efficacy in its Phase 2 trial of psilocybin derivative CYB003 for Major Depressive Disorder. Clearmind Medicine announced results from a pre-clinical trial combining its MEAI treatment with SciSparc's PEA for various disorders. Clearmind also underwent a reverse stock split to comply with Nasdaq's minimum bid price rule. Beckley Retreats is launching a new psilocybin retreat program, and Mindbloom is introducing a ketamine therapy program. Seelos Therapeutics launched a public offering, and other companies reported financial results or updates. The AdvisorShares Psychedelics ETF and several psychedelics stocks' trading performance are also highlighted.

Portfolio Pulse from Lara Goldstein

December 05, 2023 | 3:12 pm

Braxia Scientific Corp. (OTC:BRAXF) reported its Q2 2024 financial results with a year-over-year increase in revenue and a significant decrease in operating expenses and net loss. Despite the improved performance, the company's CEO, Dr. Roger McIntyre, expressed concerns about insufficient funds to sustain operations and has initiated a process to explore strategic alternatives, including a potential sale, merger, or other significant transaction. The company also announced the resignation of board director Olga Cwiek and CFO Stephen Brooks, with Peter Rizakos appointed to the board and as CFO.

Portfolio Pulse from Lara Goldstein

December 04, 2023 | 8:09 pm

Red Light Holland Corp. (OTCQB:TRUFF), a Canada-based mushroom producer, reported a 33% increase in revenue and a cash balance of $12M for the quarter ended Sept. 30, 2023. Despite a net loss, the company's management remains confident in their business strategy, emphasizing growth, cautious spending, and revenue generation in the psychedelics sector. The company plans to continue its expansion, including the development of a new farm and distribution of psilocybin microdosing capsules in New Zealand and Australia.

Portfolio Pulse from Lara Goldstein

November 29, 2023 | 10:04 pm

Psychedelics companies Cybin Inc. and Small Pharma Inc. have completed their acquisition agreement, making Small Pharma a wholly-owned subsidiary of Cybin. The combined company has received two patent grants from the USPTO and one from the European Patent Office. The AdvisorShares Psychedelics ETF has been showing a descending trend in its opening and closing prices. Other psychedelics stocks such as GH Research, COMPASS Pathways, Mind Medicine, Enveric Biosciences, Bright Minds Biosciences, Silo Pharma, Atai Life Sciences, Incannex Healthcare, FSD Pharma, and Cybin Inc. have also seen changes in their closing prices.

Portfolio Pulse from Lara Goldstein

October 30, 2023 | 2:48 am

Red Light Holland's tech subsidiary, Radix Motion, has been granted a U.S. patent for the use of human movement data in psychedelic-assisted therapy. The patent includes using the data to promote positive experiences, prevent negative experiences, personalize patient experiences, and evaluate therapy efficacy. The company plans to file a continuation application to seek additional claims and new patents. The technology does not require sending or storing any video information, protecting patient privacy.

Portfolio Pulse from Lara Goldstein

October 20, 2023 | 9:25 pm

The cannabis and psychedelics industry is rapidly evolving with companies introducing innovative products and expanding into new markets. WM Technology, Inc. (NASDAQ:MAPS), Leafly Holdings Inc. (NASDAQ:LFLY), Cresco Labs Inc (OTCQX:CRLBF), and Red Light Holland Corp (OTCQB:TRUFF) are among the companies leading the way. Cresco Labs has launched its FloraCal and Cresco Brands into Florida's cannabis market. The People's Ecosystem has introduced Toci Treats powered by Unlokt technology for release in New Mexico. Entourage Phytolab has launched the Entourage Hemp Extract Liquid Fusionner, and Red Light Holland Corp has partnered with Mistercap LLC to launch organic mushroom grow kits in the US and Canada.

Portfolio Pulse from Joana Scopel

September 22, 2023 | 11:37 pm

Ontario-based mushrooms producer Red Light Holland Corp. has launched the online sale of organic grow-your-own mushroom kits in partnership with Mistercap LLC. The kits are available for shipping across the U.S. and Canada, and are expected to be sold in Europe in the fall of 2023. The partnership aims to increase consumer awareness around the entire mushroom category.

Portfolio Pulse from Nina Zdinjak

September 20, 2023 | 1:11 pm

Several mergers and acquisitions have been announced in the psychedelics sector. Cybin (NYSE:CYBN) is acquiring Small Pharma (OTC:DMTTF), Silo Wellness (OTC:SILFF) is buying NUGL Inc./Kaya Group (OTC:NUGL), and Mindset Pharma (OTC:MSSTF) is being acquired by Otsuka America Inc., part of Otsuka Holdings (OTC:OTSKF). Additionally, Psyched Wellness (OTC:PSYCF) is set to receive $7.5M in financing. The AdvisorShares Psychedelics ETF (NYSE:PSIL) has seen a slight increase in its share price.

Portfolio Pulse from Lara Goldstein

September 05, 2023 | 2:08 pm

Red Light Holland Corp. (OTCQB:TRUFF) reported a 53.1% increase in quarterly revenue and an 80.9% increase in gross profit for Q1 2024. However, the company also reported a net loss of $1.4 million, up from $1.1 million in the same period in 2022. The company's cash and cash equivalents totaled $12.9 million, down from $13.6 million in March 2023 and $17 million in June 2022. CEO Todd Shapiro expressed confidence in the company's growth strategy and CFO David Ascott stated that the company's financial position remains strong.

Portfolio Pulse from Lara Goldstein

August 29, 2023 | 7:28 pm

Several studies and trials are set to assess the use of psilocybin-assisted therapy for various addictions and pain management. Former NHL player Kyle Quincey is building a psilocybin-assisted therapy center in Colorado. GH Research, Cybin, Enveric Biosciences, Red Light Holland, Incannex Healthcare, and Sunstone Therapies have made significant advancements in their respective programs. The AdvisorShares Psychedelics ETF has seen a consistent lowering trend in its price. GH Research, COMPASS Pathways, Mind Medicine, Bright Minds Biosciences, Enveric Biosciences, Silo Pharma, atai Life Sciences, Incannex Healthcare, FSD Pharma, and Seelos Therapeutics saw varied closing prices.

Portfolio Pulse from Lara Goldstein

August 28, 2023 | 8:07 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.