Cannabis drug companies eye IPOs and private funding after US reclassification
Updated
Updated · Reuters · Apr 30
Cannabis drug companies eye IPOs and private funding after US reclassification
7 articles · Updated · Reuters · Apr 30
Ananda Pharma plans to raise $10 million-$20 million within six months, while IGC Pharma is considering a $50 million raise later this year.
Executives say the shift to Schedule III could ease banking, tax and investor barriers, reduce stigma and lower research costs, helping companies pursue US studies and major exchange listings.
The move follows a Justice Department rescheduling of FDA-approved medicines and state-regulated medical marijuana products, but companies still face uncertainty from conflicting federal and state cannabis rules.
With only FDA-approved and state-licensed medical marijuana reclassified, what hurdles remain for broader cannabis legalization and business growth?
How will the new federal restrictions on hemp-derived products impact the future of the CBD and wellness industry in the U.S.?
What steps must cannabis companies take now to comply with new DEA registration and ensure their products remain on the market?