Key Takeaways; Cannabis Sector

• Tilray Achieved Profitability with Record Revenue Growth Across Cannabis and Beverage Segments
• Organigram Launched a New Hemp-Derived THC Brand in the US
• Canopy Growth Converted DOJA Facility into a Dedicated Medical Cannabis Site
• Cronos Group announced expansion of its popular SOURZ by Spinach Gummies

Key Takeaways; Psychedelic Sector

• GH Research Showcased Promising Long-Term Data for Rapid-Acting Depression Treatment at ECNP 2025
• Silo Pharma Expanded its Digital Asset Strategy with Investments in ResearchCoin and Bitcoin

Below is a weekly roundup of what happened this week in the cannabis and psychedelic sectors. In this ever-evolving landscape, we explore the major developments and groundbreaking initiatives happening among companies operating in these industries; from advancements in medical research, therapeutic applications to shifts in legal frameworks and current market trends.

Top Marijuana Companies for the Week

#1: Tilray

Tilray Brands, Inc. (NASDAQ TLRY) (TSX: TLRY) reported a return to profitability, posting net income of US$1.5 million and record net revenue of US$209.5 million for the first quarter of fiscal 2026, which ended on August 31, 2025. The results marked Tilray’s first profitable quarter since 2023 and a significant turnaround from a net loss of $34.7 million in the same quarter last year and a staggering $1.27 billion loss in the previous quarter.

“Achieving a record Q1 net revenue of $210 million, delivering net income, and fortifying our balance sheet are not just milestones—they are proof points of our commitment to sustainable growth and operational excellence,” said Irwin D. Simon, Tilray’s Chairman and CEO.

Tilray’s diversified business portfolio was the key driver behind this quarter’s results. The company’s cannabis segment generated $64.5 million in revenue, up 5% year over year, with Canadian adult-use sales climbing 11.9% and international cannabis revenue growing 9.6%. Its beverage division contributed $55.7 million, accounting for 27% of total revenue, while the distribution segment added $74 million, representing 35% of the total. Additionally, the company’s wellness business brought in $15.2 million.

Nonetheless, despite Tilray reporting higher overall sales, gross profit slipped by 3.7% to $57.5 million, and gross margins declined slightly to 27% from 30% a year earlier.

Tilray also improved its financial position this quarter, reporting a 9% increase in adjusted EBITDA to $10.2 million. The company’s operational efficiency also improved significantly, with cash used in operations decreasing by $34 million year over year, to just $1.3 million. Furthermore, Tilray ended the quarter with $265 million in cash and reduced its net debt to $4 million, reflecting a strengthened balance sheet and greater financial flexibility.

Looking ahead, Simon expressed optimism about market opportunities amid changing cannabis regulations worldwide. “As the U.S. explores cannabis rescheduling and Europe’s cannabis landscape evolves, Tilray’s global platform positions us not just to participate in, but to lead, this transformation,” he said.

#2: Organigram

Organigram Global Inc. (NASDAQ: OGI) (TSX: OGI), Canada’s leading cannabis company by market share, announced the launch of happly, which is a new U.S. hemp-derived THC brand designed for what the company called “mindful recreation.” According to the company, the brand focuses on targeted formulations for three mood states; Socialize, Relax, and Sleep, and is aimed at consumers seeking balance, moderation, and predictability in their THC experiences.

“happly is more than just a new brand, it is about redefining how hemp-derived THC can be part of everyday life,” said Megan McCrae, SVP, Corporate Strategy & International Growth at Organigram. “It was designed by listening closely to consumers and creating a range of products they’ve been asking for with a focus on moderation, control, predictability and specific benefits. Most importantly, happly reflects a shift toward intentional hemp-derived THC use”

At launch, happly will feature three vegan gummies, which according to the company are formulated to combine cannabinoids with functional ingredients tailored to its intended effect.

Moreover, the gummies also marked Organigram’s first use in the U.S. of its proprietary FAST™ nanoemulsion technology, which the company says is a patent-pending system that enables faster, more consistent onset and nearly double the cannabinoid absorption at peak effect compared to traditional edibles.

“We are incredibly excited to introduce our proprietary FAST™ nanoemulsion technology to the U.S. market through happly,” said Borna Zlamalik, SVP of Innovation and International R&D at Organigram. “This milestone not only marks a significant step in commercializing advanced delivery systems for hemp-derived THC but also showcases the continued success of our Product Development Collaboration (PDC) with BAT in driving meaningful innovation.”

#3: Canopy Growth

Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) announced that its DOJA facility in Kelowna, British Columbia (BC), will now operate exclusively as a medical cultivation site under the company’s Spectrum Therapeutics portfolio.

Originally acquired through the purchase of Hiku Brands Ltd. in 2018, the DOJA site has been upgraded and licensed for micro-cultivation to produce small-batch, BC-grown craft cannabis. According to the company, these products will be available only to registered Spectrum Therapeutics medical patients, including members of Canada’s veteran community.

“As we advance Canopy Growth’s transformation, Canada’s medical market continues to be a standout business for us,” said Canopy Chief Executive Officer, Luc Mongeau. “Dedicating DOJA to this portfolio underscores our long-term commitment to medical cannabis and our focus on building a stronger, more sustainable business in Canada.”

Andrew Bevan, Canopy’s Senior Vice President of Global Medical, also emphasized the strategic value of the move: “DOJA represents a distinct commercial opportunity for Canopy Growth’s Canadian medical business. With a focus on craft cultivation and exclusive supply for Spectrum patients, DOJA enhances our portfolio and reinforces Spectrum’s leadership in Canada’s medical market.”

Canopy Growth will now operate two cannabis cultivation facilities in Canada, this newly repurposed DOJA site in Kelowna and a greenhouse facility in Kincardine, Ontario, which holds European Union Good Manufacturing Practices certification, which enables exports to cannabis medical markets in Europe and beyond.

#4: Cronos Group

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) announced the launch of SOURZ by Spinach Fully Blasted Multipacks, expanding its popular cannabis gummy line with more variety and convenience for consumers across Canada.

The company stated that the new multipacks feature liquid diamond-infused gummies, which is a hallmark of the SOURZ by Spinach brand, and are available in five of its best-selling flavors. According to Cronos, customers can now purchase 5- and 10-pack formats, in several provinces across Canada.

“Our new SOURZ by Spinach® Fully Blasted Multipacks are designed to give consumers the same great taste, consistency, and experience they expect from our gummies, with the added benefit of more variety and convenience,” said Mike Gorenstein, Cronos Chairman, President, and CEO. “The arrival of products like multipacks will give consumers more reasons to stay loyal to trusted brands like SOURZ by Spinach®.”

The multipacks include flavors such as Blue Raspberry Watermelon, Pink Lemonade, Strawberry Mango, and Peach Orange, which have varying THC and CBD combinations.

Jeff Jacobson, Chief Growth Officer at Cronos, also highlighted the brand’s continued success: “We’re proud that SOURZ by Spinach® continues to be Canada’s favorite weed gummy, with just over 20% market share and consistently ranking as the #1 edible in Canada since September 2024. Fans of SOURZ by Spinach® gummies have come to trust our products, and I’m proud that the Spinach® brand continues to bring consumers new ways to experience cannabis with innovative, imaginative products.”

The new multipacks are now available in Alberta, British Columbia, Manitoba, Newfoundland, Nova Scotia, Ontario, Prince Edward Island, and Saskatchewan.

Top Psychedelic Companies for Week

#1: GH Research

GH Research PLC (NASDAQ: GHRS) announced that it will make a presentation of new clinical data on its lead drug candidate, GH001, at the 38th Annual European College of Neuropsychopharmacology (ECNP) Congress, which will take place in Amsterdam from October 11–14.

According to GH Research, at the Novel Therapies Symposium, Professor Wiesław J. Cubała of the Medical University of Gdańsk will present long-term safety and efficacy results from the open-label extension of the Phase 2b clinical trial in patients with treatment-resistant depression (TRD). Furthermore, two additional posters will feature data on GH001’s safety, tolerability, and psychoactive effects, reinforcing its potential as a new therapeutic option for patients unresponsive to conventional antidepressants.

Highlighting the significance of these findings, Professor Bernhard Baune, Director of the Department of Psychiatry at the University Hospital of Münster and a principal investigator in the study, stated: “There remains a substantial unmet medical need for treatment-resistant depression, where many patients fail to achieve adequate relief with current therapies. Results from the 6-month open-label extension of GH001-TRD-201 provide important confirmation of GH001’s safety and tolerability profile. Treatment was well tolerated, with no treatment-related serious adverse events reported and no evidence of treatment-emergent suicidal intent or behavior. These findings reinforce confidence in GH001 as a novel and rapid-acting approach for TRD.”

GH Research also announced it is also hosting an Industry Satellite Symposium titled “Time Matters: The Potential of Rapid-Acting Antidepressants in Treatment-Resistant Depression,” which will feature several leading experts.

GH001, which is a mebufotenin-based inhalation therapy, has already demonstrated significant clinical efficacy in earlier trial phases. In the Phase 2b GH001-TRD-201 study, the treatment achieved a 15.5-point reduction in MADRS scores compared with placebo by Day 8, meeting its primary endpoint.

#2: Silo Pharma

Silo Pharma, Inc. (NASDAQ: SILO) announced two key cryptocurrency investments as part of its expanding digital assets treasury strategy, which according to the company is aimed at capturing long-term value from emerging blockchain opportunities.

On Monday, the company revealed its initial purchase of ResearchCoin (RSC), which is the native token of ResearchHub, a decentralized science platform co-founded by Coinbase CEO Brian Armstrong. Later in the week, Silo also reported its first Bitcoin (BTC) acquisition under its crypto reserve initiative.

According to Silo CEO, Eric Weisblum, the company’s move marked a deliberate step toward diversification and innovation. “By securing a position in RSC, we are participating in the growing decentralized science movement while pursuing asset diversification and potential appreciation for shareholders,” Weisblum said. “Our investment in ResearchCoin demonstrates our interest in modernizing scientific research and collaboration and supporting blockchain-driven innovation as a pillar for biomedical discovery.”

ResearchCoin supports the DeSci (Decentralized Science) ecosystem, which is a Web3 initiative designed to transform how research is funded, shared, and rewarded. Through token-based incentives, the ResearchHub platform hopes to enable global researchers to collaborate, peer review, and publish findings transparently while earning recognition for their contributions.

Silo Pharma views DeSci as a transformative growth opportunity for the trillion-dollar global research economy, which has been traditionally concentrated in academic and pharmaceutical institutions. According to the company, tokenizing research funding and intellectual property can unlock liquidity and offer investors earlier access to value creation within the biotech sector.

Weisblum further emphasized Silo’s commitment to integrating blockchain technology into its broader strategy. “Silo’s latest strategic crypto purchase signals our conviction in Bitcoin as both a store of value and a hedge against general financial market volatility,” he said. “Overall, the four crypto investments we have made so far underscore our confidence in the growing adoption and value creation opportunities available through a digital asset treasury portfolio.”