Psychedelics

Hollister Biosciences Inc. Announces Launch of Pre-Roll Production and Distribution in Arizona

Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (the " Company ", " Hollister Cannabis Co. " or " Hollister ") a diversified cannabis branding company is pleased to announce that it has commenced pre-roll production and distribution in Arizona to complement the Company's existing cannabis concentrate product suite in the state through its wholly owned Venom Extracts (" Venom ") subsidiary.

Hollister Biosciences Inc. Logo (CNW Group/Hollister Biosciences Inc.)

Pre-roll production will initially be launched for existing and new white-label customers and will be expanded to include branded offerings in Q3 that leverage Venom's strong existing brand equity in the state. The company has prepared for initial production of up to 10,000 units per day, with plans to expand capacity to 30,000 units per day by Q4.

"As a result of adult use legalization in Arizona , we have witnessed growing consumer demand for pre-rolls in the state. Integrating our capabilities and brands between California and Arizona has been a key operational initiative for the Company and we are proud to share this exciting update. We look forward to  introducing our California Hashbone pre-roll brand and our brand partners into Arizona to broaden our higher margin product offerings throughout the state", shared Carl Saling , Co-Founder and CEO of Hollister.

Arizona Market

The state boasts a population of 7.3 million, approximately 70% of which are of legal consumption age, which makes it the 5th most populous state with an active legal adult-use market. Arizona is one of the largest medical marijuana markets in the world with over $1 billion in 2020 sales. The state has nearly 308,000  registered medical patients, making it the third largest medical program in absolute terms, and the second highest in terms of patient penetration rate. Legal sales of adult-use cannabis in Arizona commenced midday on Friday January 22nd , several months ahead of industry expectations, and the fastest that any of the 15 states with recreational marijuana has gone from voter approval to actual sales. The state realized over $2.9 million in recreational sales within 10 days of legalization. "Marijuana Business Daily projects that the state's recreational market could generate up to $400 million in revenue its first year and more than $700 million by 2024."

" Arizona transitioned to adult-use in late January, but this is the first month that BDSA included adult-use sales. Total cannabis sales grew 68% to $124.9 million , with adult-use representing $52.8 million . Medical cannabis sales fell 17% to $72.1 million . Growth was strong across all categories, but the highest growth by far was in pre-rolls, which gained 156%." - New Cannabis Ventures

Venom Highlights

In March 2020 Hollister Biosciences completed the acquisition of Venom Extracts, one of the industry's premier award-winning cannabis concentrate brands. Venom sales were consolidated with Hollister's sales starting after the closing in March and contributing approximately 95% of the Company's overall sales. Venom's product suite is a category leader in Arizona with over 4 million grams sold in 2020, accounting for up to 30 percent of category sales state-wide (per BDS Analytics). Venom is positioned for continued growth in Arizona , it has a strong brand recognition and distribution network, with products in the vast majority of dispensaries statewide.

Venom operates an 11K sq. ft. facility located in Phoenix, AZ which can produce approximately 5 million grams of extract annually in its current configuration. With planned equipment and production enhancements its expected production capacity will be greater than 15 million grams of concentrate products and over 8 million pre-rolls per year.

  • In 2020 Venom produced greater than 4 million grams of product
  • In Q1 2021 Venom produced approximately 2 million grams of product

This expansion reinforces the company's focus on operational efficiencies and profit margins through product mix and same customer sales. Adding Pre-Rolls as the next product category for Arizona leverages existing capabilities from California , and a large existing distribution network to enhance revenue and profitability of the Arizona operations. The Company looks forward to sharing additional details as this initiative progresses.

About Hollister Biosciences Inc.

Hollister Biosciences Inc. is a multi-state company with a portfolio of innovative, high-quality cannabis & hemp branded consumer products and white-labeling manufacturing. Our products are sold in 370 dispensaries across Arizona and California . Hollister Biosciences wholly owned brand, Venom Extracts, is a category-leading brand that sold more than 4 million grams in 2020, accounting for up to 30 percent of category sales in Arizona . The Company is one of the leaders in the cannabis industry with Q1 2021 revenue of $23.1 million and Adjusted EBITDA of $2.8 million respectively (See Press Release dated June 1st, 2021 )

Products from Hollister Biosciences Inc. include HashBone, the brand's premier artisanal hash-infused pre-roll, along with concentrates (shatter, budder, crumble), distillates, solvent-free bubble hash, pre-packaged flower, pre-rolls, tinctures, vape products and full-spectrum high CBD pet tinctures. Our wholly owned California subsidiary Hollister Cannabis Co is the 1st state and locally licensed cannabis company in the city of Hollister, CA , birthplace of the "American Biker".

Website: www.hollisterbiosciences.co

Use of Non-GAAP Financial Measures

This press release includes certain non-GAAP financial measures as defined by the SEC. Reconciliations of these non-GAAP financial measures to the most directly comparable financial measure calculated and presented in accordance with GAAP are included below. This information should be considered as supplemental in nature and not as a substitute for, or superior to, any measure of performance prepared in accordance with GAAP. Our management uses adjusted EBITDA to evaluate our operating performance and trends and make planning decisions. Our management believes adjusted EBITDA helps identify underlying trends in our business that could otherwise be masked by the effect of the items that we exclude. Accordingly, we believe that adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results, enhancing the overall understanding of our past performance and future prospects, and allowing for greater transparency with respect to key financial metrics used by our management in its financial and operational decision-making.

Reconciliation of Non-GAAP Financial Measures

The table below reconciles Net income (loss) to Adjusted EBITDA for the periods indicated.



For the
three
months
ended
March 31,
2021

For the three
months
ended
March 31,
2020



$

$

Net income (loss) and comprehensive income (loss)


1,986,802

(2,153,479)

Add (deduct) impact of:




Accretion


-

3,150

Depreciation


304,041

77,099

Finance costs


101,182

109,682

Foreign exchange gain


(28,296)

-

Interest expense


17,514

12,500

Transaction costs


-

828,100

Interest income


(25,610)

-

Income tax expense


808,000

-

Deferred income tax recovery


(55,000)

-

Foreign currency translation adjustment


(298,166)

75,713

Adjusted EBITDA


2,810,467

(1,047,235)

The CSE, nor its regulation services provider, does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com .

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SOURCE Hollister Biosciences Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2021/28/c3249.html

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COMPASS Pathways to participate in upcoming Jefferies Healthcare Conference

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COMPASS Pathways plc (Nasdaq: CMPS), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that management will present at the Jefferies Healthcare Conference at 3:30 pm ET on June 8, 2023.

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Data Demonstrating Long-Term Improvement in Depression in Cancer Patients Following Single Dose of COMP360 Psilocybin Therapy to be Presented at ASCO 2023

  • More than half of the patients demonstrated remission of depression at 18 months, after a single dose of 25mg investigational COMP360 psilocybin with psychological support
  • Open label phase 2 study, conducted by Sunstone Therapies and scheduled to be presented at the ASCO annual meeting on June 5, is believed to be the longest clinical study of psilocybin ever conducted

COMPASS Pathways plc (Nasdaq: CMPS) ("COMPASS"), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, today announced that new long-term efficacy data of investigational COMP360 psilocybin in cancer patients with major depressive disorder will be presented at the Annual Meeting of the American Society of Clinical Oncology (ASCO).

More than half of the patients (16/28) treated with a single dose of 25mg COMP360 psilocybin with psychological support remained in remission from their depression at 18 months post administration. The investigator-initiated study, led by Manish Agrawal, MD, at Sunstone Therapies , is believed to be the longest study of psilocybin therapy ever conducted.

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Seelos Therapeutics to Participate in Two Upcoming Healthcare Conferences

Seelos Therapeutics, Inc. (Nasdaq: SEEL) ("Seelos"), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system disorders and rare diseases, today announced that it will participate in two upcoming healthcare conferences:

(PRNewsfoto/Seelos Therapeutics, Inc.)

  • the Benchmark Healthcare House Call Virtual Conference to be held on May 23 rd ; and
  • the 2023 Jefferies Global Healthcare Conference to be held in New York City , NY, on June 7-9, 2023 .

Seelos senior management will host one-on-one and small group meetings in the Benchmark Healthcare House Call Virtual Conference on May 23 rd .

To register for the Benchmark Healthcare House Call Virtual Conference, please visit here .

Raj Mehra, Ph.D., Chairman and CEO of Seelos, will present on Thursday, June 8 th at 9:00 AM ET at the Jefferies Global Healthcare Conference. Dr. Mehra and Seelos senior management will also host one-on-one meetings.

The Seelos presentation webcast at the 2023 Jefferies Global Healthcare Conference may be accessed here .

The 2023 Jefferies Global Healthcare Conference is an annual gathering of over 500 public & private healthcare companies and 3,000 leading executives, institutional investors, private equity investors & VCs, where attendees address near-term and long-term investment opportunities and discuss the current trends driving healthcare in the U.S. and internationally.

About Seelos Therapeutics

Seelos Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development and advancement of novel therapeutics to address unmet medical needs for the benefit of patients with central nervous system (CNS) disorders and other rare diseases. The Company's robust portfolio includes several late-stage clinical assets targeting indications including Acute Suicidal Ideation and Behavior (ASIB) in Major Depressive Disorder (MDD), amyotrophic lateral sclerosis (ALS) and spinocerebellar ataxia (SCA), as well as early-stage programs in Huntington's disease, Alzheimer's disease, and Parkinson's disease.

For more information, please visit our website: http://seelostherapeutics.com , the content of which is not incorporated herein by reference.

Contact Information:

Anthony Marciano
Head of Corporate Communications
Seelos Therapeutics, Inc. (Nasdaq: SEEL)
300 Park Avenue
New York, NY 10022
(646) 293-2136
anthony.marciano@seelostx.com
https://seelostherapeutics.com/
https://twitter.com/seelostx
https://www.linkedin.com/company/seelos

Mike Moyer Managing Director
LifeSci Advisors, LLC
250 West 55th St., Suite 3401
New York, NY 10019
(617) 308-4306
mmoyer@lifesciadvisors.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/seelos-therapeutics-to-participate-in-two-upcoming-healthcare-conferences-301829907.html

SOURCE Seelos Therapeutics, Inc.

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Lobe Sciences Announces Commercial Distribution Agreement With Pentec Health for US Launch of Altemia

Lobe Sciences Announces Commercial Distribution Agreement With Pentec Health for US Launch of Altemia

Distribution Agreement Grants Pentec Exclusive Distribution Rights for Altemia Lobe's Novel Sickle Cell Anemia Medical Food

lobe sciences ltd. (CSE: LOBE) (OTCQB: LOBEF) ("Lobe" or the "Company"), a biopharmaceutical company focused on developing transformative medicines to treat orphan diseases today announced it has entered into a commercial distribution agreement for the supply and distribution of Altemia™ with Pentec Health, Inc. ("Pentec Health"), a nationwide provider of clinical nutrition and specialty care services addressing complex needs for patients. Altemia™ is Lobe's proprietary formulation of emulsified docosahexaenoic acid ethyl ester ("DHA") concentration designed for patients with sickle cell disease ("SCD").

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Seelos Therapeutics Provides Clinical Update and Reports First Quarter 2023 Financial Results

- Seelos expects to release top-line data in two registrational studies in 2023

Seelos Therapeutics, Inc. (Nasdaq: SEEL) ("Seelos"), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system disorders and rare diseases, today provided a clinical update and reported its financial results for the first quarter ended March 31, 2023 .

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COMPASS Pathways Announces First Quarter 2023 Financial Results and Business Highlights

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Highlights:
  • COMP360 Phase 3 pivotal program underway, patients have been treated in both trials
  • CPT® III code for in-person psychedelic therapy support accepted by the American Medical Association
  • Cash position at 31 March 2023 of $117.1 million, additional $26.9 million net cash raised through ATM facility to date in the second quarter
  • Conference call today at 8:00am ET (1:00pm UK)

COMPASS Pathways plc (Nasdaq: CMPS) ("COMPASS"), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, reported its financial results for the first quarter 2023 and gave an update on recent progress across its business.

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