Ananda Pharma
Just days after welcoming the former Chief Operating Officer of GW and Jazz Pharmaceuticals to its ranks Ananda has announced its entrance onto the US OTCQB Exchange, opening up its stock to US investors.
According to the company, its primary listing will remain the Apex segment of the Aquis Stock Exchange, but its dual listing will provide ‘easier cross-border trading for potential US investors’, and open the company up to much greater liquidity.
There is no associated capital raise with its new listing, which went live on April 14 at 2.30 pm (London time) under the ticker ‘ANANF’ for a nominal value of £0.002 each.
This, according to its CEO Melissa Sturgess, represents the third step in its strategy to break into the US.
The first step in this three-pronged approach was the appointment of US cannabis investment and financial services firm Viridian Capital Advisors in February of this year, followed by the recent appointment of Chris Tovey, who played a key role in launching Epidyolex across the globe.
“As we start our world-leading cannabinoid clinical trials into a range of complex chronic conditions, we are focused on the US as the key market for commercialising future regulatory-approved medicines. Increasing our visibility in this market is a crucial step and one I’m pleased we are making,” Sturgess continued.
Argent Biopharma
Argent Biopharma has managed to retain the bulk of the gains in stock price it gained earlier this month following news that it had gained approval to break into the German market.
This week, the ASX-listed cannabis drug-developer announced a new strategic ‘heads of agreement’ with Australia’s AusCann Group Holdings.
While still in the preliminary, non-binding stages, the agreement would enable AusCann to licence key data on Argent’s proprietary CBD-based refractory epilepsy treatment, CannEpil.
AusCann will be given access to the chemistry, manufacturing and controls (CMC) and regulatory dossier for use in ‘non-epilepsy pharmaceutical programs’, aimed at accelerating research into its potential applications for treatment of other conditions.
A CMC typically provides comprehensive technical information about the drug substance and drug product, including how it is made, tested, and controlled to ensure safety, quality, and consistency.
In return, Argent will be given access to pharmacokinetic and pharmacodynamic data from AusCann’s Neuvis formulation, a self-emulsifying hard-shell capsule which has reportedly shown improved stability, bioavailability, and scalability, with the data expected to support regulatory submissions and development strategies.
To coordinate research and development activities between the two companies and their respective products, a joint steering committee will be established.
Furthermore, a deferred licensing fee structure and royalties on future pharmaceutical products developed using shared assets will be put in place.
Argent Chairman Roby Zomer described the agreement as ‘a major validation’ of the company’s investment in CannEpil, adding that the licensing arrangement allows Argent to generate new revenue streams while preserving its epilepsy franchise.
IM Cannabis
Israeli medical cannabis operator IM Cannabis is facing delisting from the NASDAQ for a third time since 2022, after receiving a warning that it was no longer in compliance with stockholders’ equity listing requirements.
On April 09, 2025, the company reported stockholders’ equity (the value of a company’s total assets minus its total liabilities) of US$2.18m, below the minimum requirement of $2.5m.
Furthermore, the exchange noted that IMC no longer met the alternative criteria for market value of listed securities or net income from continuing operations.
As such, IMC now has 45 days (until May 26) to submit a plan to regain compliance. If this is accepted, it would be given a further 180 days to regain compliance with these multiple rules.
This is not the first time the company has been in breach of the minimum requirements on NASDAQ, first receiving a warning for being below the minimum share price requirement of $1 in July 2022, then again in August 2023.
According to IMC, the notification has ‘no immediate effect’ on its listing or business operations.
Meanwhile, IMC is in the process of fully acquiring Focus Medical Herbs, an Israeli company previously involved in cannabis cultivation and now focused on importing medical cannabis.
IMC already owns 74% of Focus and has announced plans to acquire the remaining 26% from Ewave Group, a company owned by two individuals who are related parties to IMC.
The agreed value of the 26% stake is NIS 818,740 (approximately US $220,000), which will be paid in newly issues IMC common shares.
