00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Companies developing cannabis-based medicines said U.S. efforts to loosen restrictions could
00:08unlock private funding and public markets and provide relief to the struggling industry,
00:12according to Reuters. The Department of Justice rescheduled FDA-approved cannabis medicines
00:18and state-regulated medical marijuana, easing access to banking, tax credits, and deductions.
00:25Executives said the change could reduce stigma and attract mainstream investors.
00:30Ananda Pharma is preparing to raise $10 million to $20 million within six months,
00:35as it develops a cannabis-based treatment for endometriosis-related pain.
00:40IGC Pharma is considering a $50 million raise and is testing a low-dose THC treatment for
00:47Alzheimer's-related agitation. Avacana said rescheduling could support IPO plans and expand
00:53U.S. research. Companies said the shift could lower development costs but noted ongoing uncertainty
00:59tied to state regulations. For all things money, visit Benzinga.com.
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