Hemp Stocks & Public Companies

Physicians warming to CBD drug for epilepsy, pharmaceutical maker tells investors

Broad physician adoption of a cannabis-derived epilepsy treatment is boosting sales for the only company with federal permission to sell cannabis products in the United States. London-based GW Pharmaceuticals told investors Monday that it notched $108 million in sales last quarter and $309 million for calendar 2019. The sales figures were released in advance of the company’s […]

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Ohio-based CBD empire terminates bid to acquire multistate cannabis operator

Changing economic times have caused an Ohio marijuana and hemp retailer to rethink its latest acquisition. Green Growth Brands, which owns medical marijuana dispensaries and the nation’s largest chain of CBD retail locations in mall kiosks, on Wednesday dropped its $310 million all-stock bid to acquire Moxie Holdings, a Texas-based, privately held, vertically integrated, multistate […]

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Losses increase for Green Growth Brands amid retail expansion

Green Growth Brands, an Ohio-based cannabis retailer that owns both marijuana dispensaries and the nation’s largest chain of CBD retail locations in mall kiosks, reported a loss of $30.2 million for the fiscal first quarter ended Sept. 30. The company lost $2.8 million in the same period a year ago. Company executives attributed the current losses […]

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Charlotte’s Web blames lack of FDA direction for slow revenue growth

CBD giant Charlotte’s Web said slow action by federal health regulators is causing disappointing growth in mass-market retail channels. The Boulder, Colorado, company told investors Wednesday that “a lack of regulatory direction” from the U.S. Food and Drug Administration (FDA) is slowing growth in food, drug and mass (FDM) sales channels. “Full revenue growth potential […]

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Losses narrow for GW Pharmaceuticals on dramatic revenue increase

A strong uptick in doctor prescriptions and coverage from health insurers is being credited for solid quarterly revenues for GW Pharmaceuticals. The London-based firm that makes cannabis-derived CBD medicines reported revenue of $91 million for the third quarter ended Sept. 30, up more than 3,500% from the same period a year ago. Despite the revenue […]

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Green Growth Brands completes first equity raise for CA$50.2 million

A Columbus, Ohio-based cannabis retailer that distributes CBD products at big-box retail stores and malls across America has completed its initial equity raise through a bought deal offering for 50.2 million Canadian dollars ($37.8 million). Green Growth Brands said in a statement that the raise is intended to fuel expansion. The company plans to combine […]

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Charlotte’s Web reports revenues buoyed by distribution deals; new CFO hired

Charlotte’s Web, a Boulder, Colorado-based CBD manufacturer, on Wednesday reported revenue of $25 million for the second quarter ended in June, up 45% from the same period a year ago. Profit for the quarter was $18.8 million, up 35% from the previous year. Meanwhile, the company also announced that Chief Financial Officer Richard Mohr is […]

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Don’t fall victim to fantasy valuations in the hemp sector

We often hear from acquirers and company owners alike in cannabis sectors that the times we are living in now are like “the first years after Prohibition in 1933.” The implication is that hemp and marijuana versions of Anheuser-Busch, Coors and Seagram are being formed now, and it won’t be long before products will start […]

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Strong CBD drug release powers GW Pharmaceuticals’ record revenue

Strong patient interest in the only federally approved CBD product in the United States helped drugmaker GW Pharmaceuticals record $72 million in revenue last quarter. Epidiolex, a seizure control drug approved by the U.S. Food and Drug Administration, has seen brisk sales and new patient enrollments since the drug’s launch last November. GW Pharma (Nasdaq: GWPH) reported that […]

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European Medicines Agency panel OKs GW Pharma’s cannabis drug

The Committee for Medicinal Products for Human Use (CHMP) recommended approval of the British company’s cannabis-based medicine Epidiolex, said the drug’s maker, GW Pharmaceuticals. The CHMP is tasked with preparing the European Medicines Agency’s opinions on queries about the marketing of human medicines. The CHMP opinion was adopted July 25, and the final decision now […]

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