Welcome to Business of Cannabis’ new weekly strategic digest tracking the financial health, market moves, and corporate developments shaping the European cannabis sector.
Argent Biopharma [stock_market_widget type=”chart” template=”line” assets=”RGT.L” range=”1mo” interval=”1d” price_field=”close” border_width=”3″ tension=”0.5″ line_color=”#5679FF” range_selector=”true” axes=”true” cursor=”true” api=”yahoo-finance”] Argent Biopharma (previously MGC Pharmaceuticals), the first company in history to launch an IPO on the London Stock Exchange, has announced its intention to de-list from the exchange.
Denmark’s six-year medical cannabis pilot scheme could soon be expanded into a fully legalised market, following a surprise announcement from the government last week.
Cannabis stocks plunge on election results As the outcome of the US presidential election and numerous state-specific cannabis ballots dripped through yesterday, the markets reacted in tandem.
DanCann Pharma [stock_market_widget type=”chart” template=”line” assets=”DAN.F” range=”1mo” interval=”1d” price_field=”close” border_width=”3″ tension=”0.5″ line_color=”#5679FF” range_selector=”true” axes=”true” cursor=”true” api=”yahoo-finance”] Danish cannabis company DanCann Pharma has announced plans to enact a reverse stock split aimed at ‘stabilising the trading of the company’s shares’.
Jazz Pharmaceuticals [stock_market_widget type=”chart” template=”line” assets=”JAZZ” range=”1mo” interval=”1d” price_field=”close” border_width=”3″ tension=”0.5″ line_color=”#5679FF” range_selector=”true” axes=”true” cursor=”true” api=”yahoo-finance”] The pharmaceutical giant announced last week that its flagship cannabinoid treatment, Epidyolex, failed to pass its Phase 3 clinical trial in Japan.
Akanda Corp [stock_market_widget type=”chart” template=”line” assets=”AKAN” range=”1mo” interval=”1d” price_field=”close” border_width=”3″ tension=”0.5″ line_color=”#5679FF” range_selector=”true” axes=”true” cursor=”true” api=”yahoo-finance”] Akanda Corp has announced plans to implement another reverse stock split, its second to date, following a non-compliance notice from NASDAQ last week.
IM Cannabis IM Cannabis has become the latest major Israeli cannabis company to announce potential plans to depart the industry altogether and sell off its remaining assets.
MGC Pharmaceuticals [stock_market_widget type=”chart” template=”basic” color=”#5679FF” assets=”MXC.L” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” display_currency_symbol=”true” api=”yf”] MGC Pharmaceuticals announced the closure of its share purchase plan (SPP) this week, seeing the company successfully raise a further A$834k (£426k).
