Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. CarMax (KMX) initiated with a Buy at Argus. 2. Novocure (NVCR) initiated with an Outperform at Oppenheimer. 3. Diamondback Energy (FANG) initiated with a Buy at MKM Partners. 4. Poly (PLT) initiated with an Outperform at Evercore ISI. 5. Canopy Growth (CGC) initiated with an Equal Weight at Consumer Edge. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

Bullish option flow detected in Canopy Growth with 26,788 calls trading, 1.7x expected, and implied vol increasing almost 2 points to 144.75%. Jun-24 6 calls and 4/26 weekly 10 calls are the most active options, with total volume in those strikes near 6,800 contracts. The Put/Call Ratio is 0.19. Earnings are expected on May 30th.

In this week's "Rising High," The Fly's recurring series focused on cannabis and psychedelic stock news, The Fly looks back on study dosing, a completed acquisition and a research partnership. ATAI ANNOUNCES DOSING... To see the rest of the story go to thefly.com. See Story Here

Novocure announced the results of the METIS phase 3 clinical trial in brain metastases from non-small cell lung cancer will be presented at the 2024 American Society of Clinical Oncology Annual Meeting in Chicago, to be held from May 31 to June 4. METIS was a randomized phase 3 clinical trial of stereotactic radiosurgery with or without Tumor Treating Fields therapy for patients with 1-10 brain metastases from NSCLC. In March, Novocure announced METIS met its primary endpoint, demonstrating a statistically significant improvement in time to intracranial progression for adult patients with Tumor Treating Fields therapy and supportive care compared to supportive care alone. "We are honored to present the results of the METIS clinical trial as a late-breaking abstract this year at ASCO, the largest global oncology conference," said Asaf Danziger, Novocure's CEO. "Patients with brain metastases from non-small cell lung cancer need more treatment options. The METIS trial demonstrated that TTFields Therapy delayed intracranial progression while preserving neurological function, which is critical for these underserved patients. We look forward to robust discussion around the positive results of the METIS clinical trial, as well as other TTFields therapy program updates at ASCO 2024."