Day by day Hit: March 7, 2022

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The Day by day Hit is a recap of the highest enterprise tales for the hashish trade for March 7, 2022.

On the Web site

Seelos

 Seelos Therapeutics, Inc. (Nasdaq: SEEL) introduced its year-end 2021 enterprise and scientific replace. Within the second half of 2021, Seelos stated it had achieved a number of main scientific and monetary milestones and continued to make progress on its a number of clinical-stage growth applications. As of year-end 2021, Seelos had $78.7mm of money. SLS-002 (intranasal racemic ketamine). In July, Seelos started dosing sufferers in Half 2 of the registration-directed, double-blind, placebo-controlled cohort in Acute Suicidal Ideation and Habits (ASIB) in sufferers with Main Depressive Dysfunction (MDD). In June, based mostly on suggestions from a Sort C assembly with the FDA, Seelos is planning to develop the dimensions of the trial and the variety of websites now that this trial has been labeled registration directed. Learn extra right here.

Atai

On April 7, 2021, Atai Life Sciences , (NASDAQ: ATAI) a clinical-stage biopharmaceutical firm growing psychedelics and non-psychedelic compounds for psychological well being wellness, acquired a majority stake in Delaware-based Psyber, an organization engaged on a brain-to-computer (BCI) interface gadget. It’s hoped that the Psyber brain-to-computer gadget, nonetheless in growth, can allow varied digital therapeutics to enhance psychological well being problems by inducing behavioral adjustments. However the gadget additionally represents an evolutionary step towards a good higher understanding of the human thoughts—and maybe a greater approach to perceive and deal with psychological well being. Learn extra right here.

In Different Information

MedMen

MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) beforehand introduced in November 2021 {that a} jury had fully exonerated the Firm in a lawsuit introduced by former CFO James Parker. On March 1, 2022, the decide additional ordered that Parker repay MedMen $612,000 in authorized charges that the Firm had beforehand superior to Parker, affirming that Parker was not entitled to such reimbursement attributable to his materials breach of his employment settlement: “Since Parker materially breached his employment settlement, MME USA was relieved from its development obligations as of the date of the breach,” the decide stated within the order. The decide additional dominated that Parker just isn’t entitled to reimbursement of any additional charges or bills from the Firm, following Parker’s request that the Firm reimburse him for an extra $1,000,000 of authorized charges.

“We’re happy that, along with being formally and totally exonerated by the jury from the false allegations initially introduced by Mr. Parker, that the decide has now ordered that he repay important charges to the Firm,” stated Michael Serruya, MedMen Chairman and Interim CEO. “As an organization, we’re devoted to responding vigorously to all false claims introduced in opposition to the corporate and can pursue our treatments diligently to their conclusion.” Learn extra right here.

AFC Gamma

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FC Gamma, Inc. (NASDAQ: AFCG) introduced it has expanded its senior credit score amenities with three completely different debtors: Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF), a number one multi-state operator with energetic operations in 12 states, together with 12 manufacturing amenities; Devi Holdings Inc., doing enterprise as Nature’s Medicines, a multi-state operator headquartered in Phoenix, Arizona; and Natrabis LLC, doing enterprise as SocietyC, is a premium hashish producer that operates a state-of-the-art 50,000 sq. foot indoor cultivation and processing facility in Lake Orion, Michigan. Learn extra right here



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Disclosure

The statements made regarding these merchandise haven’t been evaluated by the Meals and Drug Administration. The efficacy of these merchandise has not been confirmed by FDA-approved evaluation. These merchandises are often not meant to diagnose, take care of, treatment, or forestall any sickness. All knowledge discovered proper right here won’t be meant as another option to or completely different from knowledge from well-being care practitioners. Please search the recommendation of your well-being care expert about potential interactions or completely different attainable points sooner than using any product. The Federal Meals, Drug and Magnificence Act requires this discovery.