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What reclassifying marijuana could mean for New Mexico [Video]
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What reclassifying marijuana could mean for New Mexico [Video]

The U.S. Drug Enforcement Administration announced Tuesday they want to reclassify marijuana as a less dangerous drug. The proposal still needs to be reviewed by the White House. It would recognize the medical use of cannabis and acknowledge that it has less potential for abuse than some other drugs. So, what effect will this have on New Mexicans? Pat Davis the founder of Weeds a cannabis consulting firm has the answer. “What it really means for average New Mexicans is not much,” Davis said. “You still can buy your cannabis in New Mexico and smoke it here, but you can’t take it through the checkpoints. You can still be arrested federally, even if these rules change.” However, for New Mexico’s medical users, it’s a different story.”The federal government is going to make cannabis available for medical users to create new drugs for people,” Davis said. “They get a prescription from their doctor, maybe buy it from Walgreens, and your insurance will help pay for it.”Davis said it will also benefit some growers in New Mexico. “It’s a big deal in states like New Mexico, where companies have been learning how to cultivate these special strains and understanding their properties, because they may start being able to license those special products or processes to big pharmaceutical companies on a national scale,” Davis said. “That means a lot of money for a company that was otherwise probably growing it just for New Mexico personal consumption.” It also means investors may be able to cash in. Following the announcement on Tuesday, numerous cannabis stocks such as Tilray, Canopy Growth, and others saw double-digit percentage increases in shares.”Investors are looking and saying, okay, the feds are finally going to do this,” Davis said. “Who’s going to be at the front of the line? Those companies that have been working in these state programs for a long time, kind of hustling to make it work, have a big advantage in the market.”Last week, 21 Democratic members of the U.S. Senate sent a letter to the DEA saying marijuana should be dropped from the controlled substances list.

BioHarvest Sciences Reports Strong Financial Performance for 2023, Eyes Nasdaq Listing [Video]
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BioHarvest Sciences Reports Strong Financial Performance for 2023, Eyes Nasdaq Listing [Video]

BioHarvest Sciences CEO Ilan Sobel joined Steve Darling from Proactive to share the company’s impressive financial and operational results for the fourth quarter and full year ended December 31, 2023. Revenue surged by 131% to $12.7 million in 2023, compared to $5.5 million in 2022, with fourth quarter revenue growing by 85% to $4.5 million. Notably, gross margins for the fourth quarter improved to 51%, up from 27% in the same period of 2022, and full-year gross margins rose to 45%, from 22% in 2022.In the US market, BioHarvest Sciences experienced significant growth, with new customer and subscriber counts more than doubling. Despite this growth, marketing costs increased by only 48%, while customer churn and cost of acquisition decreased, indicating improved efficiency in customer acquisition and retention strategies.Looking ahead, Sobel provided revenue guidance for the first and second quarters of 2024, expecting revenues to range between $5.2-$5.3 million and $5.7-$6.0 million, respectively. The company also launched a new ‘Hot Beverage’ lineup in December 2023, starting with VINIA® Functional Coffees, with additional VINIA® products in the pipeline.In a strategic move towards broader market access, BioHarvest Sciences is working towards listing on the Nasdaq Exchange in the United States. To meet Nasdaq’s minimum share price requirements, the company plans to seek shareholder approval for a share consolidation of 35-1 at its Annual and Special General Meeting on May 27, 2024. Additionally, the company aims to enhance corporate governance by adding an additional independent director to meet Nasdaq requirements. These initiatives underscore BioHarvest Sciences’ commitment to unlocking greater shareholder value and expanding its presence in the US market.#proactivinvestors #cse #bhsc #otcqb #cnvcf #pharma #biotech #hearthealth #BioHarvestSciences, #IlanSobel, #RevenueGrowth, #NasdaqListing, #FinancialResults, #MarketingEfficiency, #ProductLaunch, #CoffeeProducts, #TeaProducts, #BusinessGrowth, #InvestorInterest, #BusinessStrategy, #FinancialForecast, #MarketExpansion, #CorporateDevelopment, #ManagementFocus, #EarningsReport, #StockMarket, #InvestmentOpportunity, #CorporateNews#invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews

Lilly rides Mounjaro, Zepbound to better-than-expected 1Q profit despite supply issues | KLRT [Video]
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Lilly rides Mounjaro, Zepbound to better-than-expected 1Q profit despite supply issues | KLRT [Video]

Rapidly climbing sales of the new obesity drug Zepbound and its counterpart for diabetes, Mounjaro, pushed Eli Lilly to a better-than-expected first-quarter profit. The drugmaker also hiked its sales and earnings forecast for 2024 beyond Wall Streets expectations even as it hustles to boost manufacturing and catch up to surging demand for the drugs. Lilly []