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Fly News Breaks for May 21, 2019
TLRY, CGC
May 21, 2019 | 06:16 EDT
The FDA's previous decision that red yeast rice is an acceptable dietary supplement with naturally occurring levels of Monacolin K may set precedent for full spectrum or broad spectrum hemp extract that contains cannabidiol, or CBD, Piper Jaffray analyst Michael Lavery tells investors in a research note. However, CBD is the active ingredient in FDA-approved Epidiolex, which complicates its regulatory treatment, the analyst adds. He notes that because CBD is in an approved drug, the FDA rules do not allow it to be marketed as a dietary supplement. Nonetheless, given the red yeast rice precedent, the analyst "would logically expect" the FDA to allow products with hemp extract to be marketed as over-the-counter dietary supplements, "even if its views on CBD isolate may be less predictable." Lavery believes the U.S. CBD market could be $3B-$6B in 2020, and grow to $8B-$15B in five years. The analyst has Overweight ratings on both Canopy Growth (CGC) and Tilray (TLRY).
News For CGC;TLRY From the Last 2 Days
TLRY, CGC
Mar 28, 2024 | 11:32 EDT
In this edition of "Rising High," The Fly conducted an exclusive interview with Sundie Seefried, founder and chief executive officer of Safe Harbor Financial (SHFS), a financial services provider to the regulated cannabis industry. Here are some... To see the rest of the story go to thefly.com. See Story Here
CGC
Mar 27, 2024 | 10:46 EDT
Bullish option flow detected in Canopy Growth with 18,324 calls trading, 3x expected, and implied vol increasing almost 7 points to 203.48%. 3/28 weekly 8 calls and 3/28 weekly 11 calls are the most active options, with total volume in those strikes near 11,200 contracts. The Put/Call Ratio is 0.18. Earnings are expected on May 30th.