Synthetic psilocybin treatments by 2025

Welcome to Insider Cannabis, our weekly newsletter where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar global cannabis boom.

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Happy Friday readers,

It was a busy week for the cannabis team here at BI as we $4. We'll have a ton of great stories breaking down the cannabis policy implications of the vote, as five states — including that state right across the river from us, New Jersey — $4.

Beyond that, Yeji and I $4, who told us he predicts a 'Cambrian explosion' of innovation in the psychedelics space.

And if you missed it, conference season is in full swing: I moderated a pair of sessions at $4, participated in a $4 organized by the recruiting startup Vangst, and I'll be moderating a session on cannabis legalization at the Legends Investment Forum on Tuesday. You can $4.

I also was a $4 — you'll want to stick around until the end for my "finishing move," and $4 to discuss state-level legalization. Let me know what you think.

-Jeremy

Here's what we wrote about this week:

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We spoke with Compass Pathways CEO George Goldsmith in one of the company's first interviews since its IPO.

Compass Pathways went public on the Nasdaq in September, and its stock popped over 70% on the first day of trading. It's now valued at well over $1.2 billion. The company is developing synthetic psilocybin — the chief psychoactive ingredient in "magic" mushrooms — to help alleviate treatment-resistant depression.

Executive moves

• Cannabis tech startup Fyllo appointed $4, to its board.

Deals, launches, and IPOs

• Harvest Health & Recreation $4 with Eight Capital and other underwriters. The cannabis MSO has a significant footprint in Arizona, which is voting on legalization on November 3.
• Neptune Wellness Solutions, which has an expansive CBD business, $4.
• Cannabis e-commerce and delivery startup Amuse raised a $12 million Series A round, led by cannabis fund Gotham Green Partners.
• Cannabis startup $4, in a bid to become what CEO David Hua calls the 'Salesforce of Weed'
• Psychedelics firm Havn Life $4 to the US.

Policy moves

• Montana's Supreme Court rejected a lawsuit that sought to remove a pair of marijuana legalization initiatives from the ballot.
• A group of marijuana companies and trade associations has sued the city of LA and its Department of Cannabis Regulation over what the groups call onerous delivery restrictions that don't let them obtain licenses until 2025, $4.
• A top aide to New York Gov. Cuomo said the state $4 — before April of next year.
• The Last Prisoner Project launched $4, with the stated goal of releasing all cannabis prisoners in Michigan, where cannabis is now legal.

Chart of the week

THC focused stocks in 2020 have fared better than CBD ones, according to Viridian Capital Advisors, which compared a handful of cannabis company stocks in the first 40 weeks of 2020.

THC-first companies like Curaleaf, GTI, Harvest, and others have thrived on the market with increased revenues and better trading volume, according to the advisory firm, while CBD companies have been negatively affected by excess production and declining prices this year:

What we're reading

$4 (Vox)

$4 (Cannabis Wire)

$4 (ABC News)

$4 (Wall Street Journal)