Key Takeaways; Cannabis Sector

• High Tide Posted Surprise Profit in Q3 and Expanded Global Footprint with German Acquisition
• Tilray’s Broken Coast Unveiled New Premium Cannabis Line “BC Selects”
• Aurora Cannabis Expanded German Operations with Major Facility Investment

Key Takeaways; Psychedelic Sector

• Atai Secured $11.4M NIH Grant to Advance Non-Hallucinogenic Treatment for Opioid Use Disorder
• MindMed Study Revealed Alarming Rates of Suicidal Ideation in Adults with Anxiety
• MIRA Pharmaceuticals Reported Promising PTSD Results with Ketamir-2
• Pasithea Therapeutics Expanded PAS-004 Clinical Trial to South Korea
• Relmada Therapeutics Regained Nasdaq Compliance After Meeting Minimum Bid Price Requirement

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: High Tide

High Tide Inc. (NASDAQ: HITI) (TSXV: HITI), Canada’s largest cannabis retailer, reported a profitable third quarter for fiscal 2025, sending its stock up 13% in U.S. after-hours trading on Monday, September 15, 2025.

For the quarter ending July 31, the company posted revenue of $149.7 million, gross profit of $40.1 million, and net income of $832,000. That marked a 14% increase in revenue, a 13% rise in gross profit, and a 1% lift in net income compared to the same period last year.

“This has been our most powerful quarter to date across nearly every financial metric, including record revenue and adjusted EBITDA, along with positive free cash flow and net income,” said Raj Grover, Founder and CEO of High Tide. “Our strongest same-store sales growth in two years helped propel an 18% year-over-year increase in our core bricks-and-mortar business.”

According to the company, its subsidiary Canna Cabana, which operates 207 locations across Canada, now controls roughly 12% of the domestic cannabis retail market. High Tide also said it remains on track to open 30 new stores this year, with a long-term target of surpassing 300 locations nationwide.

Beyond retail, High Tide is also building its in-house cannabis brands. As of September 8, it offered 75 products under its Queen of Bud and Cabana Cannabis Co. labels, generating $6.4 million in sales over the past year.

In a move that significantly extended its international reach, High Tide recently closed its acquisition of Remexian Pharma GmbH, a German pharmaceutical distributor supplying medical cannabis to pharmacies.

Grover called the deal “a game-changer,” adding “With this acquisition, High Tide is now not only a leader in Canada, but also a leader in Europe’s largest cannabis market. By further diversifying our revenue streams with Remexian’s strong financials, we’ve strengthened our ability to deliver value to shareholders and accelerate growth both at home and abroad.”

Shares of High Tide, traded in both Canada (HITI.V) and the U.S. (HITI), reacted sharply to the surprise profit, climbing double digits in after-hours trading on Monday.

#2: Tilray

Tilray Brands, Inc. (NASDAQ TLRY) (TSX: TLRY) unveiled a new chapter for its premium craft cannabis brand Broken Coast with the launch of BC Selects, a limited-edition line showcasing rare phenotypes from its proprietary genetic library.

According to the company, the series kicked off with Sprits 26, which is a balanced hybrid born from Spritzer lineage, and is now available exclusively in British Columbia. With THC levels ranging from 28–34% and a terpene content of up to 5%, the strain delivers what the company describes as a “minty, earthy profile with a sweet, gassy finish.”

“BC Selects is about pushing the boundaries of craft,” said Blair MacNeil, President of Tilray Canada. “By curating the most exceptional phenotypes from hundreds of in-house genetics, we’re giving consumers access to strains that truly represent the pinnacle of Broken Coast’s cultivation expertise.”

Additionally, the company stated that each release under BC Selects will be small-batch, non-irradiated flower, chosen for standout qualities such as dense cola structure, abundant trichomes, and pronounced terpene expression.

Alongside the debut of BC Selects, Broken Coast will also introduce a modern take on the iconic Blue Dream, which is available in both whole flower and pre-roll formats. According to the company, the pheno-hunted strain preserves its classic blueberry sweetness while showcasing Broken Coast’s trademark indoor, hand-trimmed, slow-cured process.

Products from the new line are set to roll out this month through authorized retailers and provincial online stores, though availability and formats will vary by market.

#3: Aurora Cannabis

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) announced a multi-year investment to upgrade its EU-GMP manufacturing facility in Leuna, Germany, highlighting the Canadian company’s commitment to Europe’s growing medical cannabis market.

According to Aurora, the five-year investment will bring Canadian-proven cultivation methods to Germany, focusing on increasing flower production, improving product quality, and cutting operational costs. Planned upgrades include new grow rooms, advanced irrigation and lighting systems, and a transition to hang dry and dry trim processes.

“This investment marks a significant milestone in our commitment to operational excellence and long-term growth in Europe,” said Alex Miller, Aurora’s Executive Vice President of Operations, Science and Supply Chain. “These upgrades will strengthen our supply chain resilience, expand our domestic capabilities in EU-GMP certified manufacturing, and position us to best meet the growing demand for high-quality medical cannabis in Europe with precision and efficiency.”

Aurora Leuna is one of only three licensed cannabis cultivation facilities in Germany and currently produces strains under the IndiMed brand. The expansion will enable the site to grow additional cultivars from Aurora’s extensive genetics library, enhancing its role in supplying locally grown medical cannabis to the country’s expanding patient base.

Headquartered in Edmonton, Alberta, Aurora Cannabis is a global leader in medical cannabis, with operations spanning Canada, Europe, Australia, and New Zealand. Its brand portfolio includes consumer labels such as Drift, San Rafael ’71, and Greybeard, alongside medical brands like MedReleaf, CanniMed, and Whistler Medical Marijuana Co.

Top Psychedelic Companies for Week

#1: Atai

Atai Life Sciences N.V. (NASDAQ: ATAI) was awarded a grant of up to $11.4 million from the National Institute on Drug Abuse (NIDA), which is part of the U.S. National Institutes of Health (NIH), to accelerate the development of its novel non-hallucinogenic compounds targeting opioid use disorder (OUD).

The five-year UG3/UH3 grant will support the optimization and early-stage development of atai’s 5-HT2A/2C receptor agonists, which is designed to provide the therapeutic benefits of psychedelics without the hallucinogenic side effects.

“This grant award underscores atai’s and NIDA’s shared dedication to providing meaningful treatment options for those struggling with OUD,” said Glenn Short, Chief Scientific Officer of atai. He added that the award represents “the first external validation of atai’s AI-driven polypharmacology drug discovery approach.”

Atai’s Chief Executive Officer and Co-founder, Srinivas Rao, emphasized the scale of the crisis, noting: “The commitment of Federal support to advance innovative and differentiated research in OUD highlights the devastating toll this crisis continues to take on individuals, families, and communities.”

According to the company, the grant will fund optimization, translational proof-of-concept studies, and preclinical safety work to support an Investigational New Drug application. If successful, atai aims to launch a Phase 1 human study. This program seeks to develop clinical candidates that can reduce opioid dependence without triggering hallucinations or adverse cardiac effects linked to 5-HT2B activity.

With OUD affecting an estimated 16 million people globally and contributing to over 120,000 deaths each year, atai believes its compounds could provide a new path toward lasting abstinence and lower treatment burdens compared to existing therapies.

#2: MindMed

Psychedelic drug company Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) unveiled new findings showing that nearly half of adults with severe generalized anxiety disorder (GAD) experience suicidal ideation (SI) on an almost daily basis. The results, which were drawn from more than 75,000 U.S. survey respondents, were presented at Psych Congress 2025.

The retrospective analysis found that 48% of individuals with severe GAD reported near-daily SI, while 91% of those with severe symptoms and 78% with moderate symptoms said they had experienced suicidal thoughts in the past two weeks. The numbers were even higher among people living with both GAD and major depressive disorder (MDD).

“While SI has been extensively studied in people with MDD, far less is known about its impact on those with GAD,” explained Erin Ferries, Head of Healthcare Economics Outcomes Research at MindMed and lead author of the study. “These findings highlight the urgent need to address the gaps in routine suicide risk screening, particularly among people living with GAD and MDD. Stronger identification and timely, targeted interventions are essential—and may help save lives”

The study also revealed broader concerns: nearly one in three U.S. adults (28.4%) reported experiencing suicidal ideation, with the highest rates among men, young adults aged 18–34, Hispanic individuals, and students.

The research underscores suicide’s position as one of the leading causes of death among U.S. adults under 45 and highlighted the growing public health need for improved screening and interventions in anxiety and depressive disorders.

#3: MIRA Pharmaceuticals

MIRA Pharmaceuticals, Inc. (NASDAQ: MIRA) announced encouraging preclinical results showing that its oral drug candidate, Ketamir-2, restored normal behavior in stressed animals within a validated model of post-traumatic stress disorder (PTSD).

The study, which was conducted using the widely accepted Single Prolonged Stress model, exposed rats to predator stress, inducing PTSD-like symptoms such as immobility, despair, and avoidance of coping. After five days of oral dosing with Ketamir-2, the animals displayed a reversal of these behaviors, aligning more closely with the responses of non-stressed controls.

“Restoring behavior to normal in a stressed PTSD model represents an important step forward,” said Erez Aminov, CEO of MIRA Pharmaceuticals. “These findings support our decision to broaden the scientific evaluation of Ketamir-2 beyond neuropathic pain into neuropsychiatric disorders such as PTSD. Looking ahead, we plan to explore opportunities for potential collaborations, including with military and government institutions, given the significant unmet need for effective PTSD treatments.”

Dr. Itzchak Angel, the company’s Chief Scientific Advisor, added: “We observed consistent reversal of stress-induced behavioral changes, supporting continued investigation of Ketamir-2 across neuropsychiatric disorders.”

According to the MIRA, Ketamir-2 is already in a Phase 1 trial for neuropathic pain, where it has shown a favorable safety profile. Unlike ketamine, it is designed to avoid dissociative side effects and has not been classified as a controlled substance by the U.S. Drug Enforcement Administration.

#4: Pasithea Therapeutics

Pasithea Therapeutics Corp. (NASDAQ: KTTA) announced the activation of two clinical trial sites in South Korea for its Phase 1/1b open-label study of PAS-004, a next-generation macrocyclic MEK inhibitor. The study focuses on adult patients with neurofibromatosis type 1 (NF1) and symptomatic plexiform neurofibromas. According to the company, recruitment is now underway at Asan Medical Centre and Severance Hospital Yonsei University Health System, with the first South Korean patient already dosed.

Professor Lee Beom-Hee of Asan Medical Center welcomed the collaboration, noting: “Our institution has the largest NF1 caseload in South Korea and a long history of research leadership in this field. We are eager to evaluate PAS-004, which has shown a distinct pharmacokinetic profile and a more convenient dosing regimen that may provide important benefits for our NF1 patients.”

Dr. Tiago Reis Marques, Chief Executive Officer of Pasithea, also highlighted the importance of the expansion: “With access to world-class facilities and an estimated 10,000 NF1 patients in South Korea, we believe our clinical sites in the country will play a pivotal role in the success of this trial. We are excited to include South Korean patients in our NF1 study and look forward to advancing meaningful treatment options for this community.”

The Phase 1/1b trial (NCT06961565) aims to evaluate the safety, tolerability, pharmacokinetics, and pharmacodynamics of PAS-004. Initial interim data is expected in the first quarter of 2026. The study is being conducted across five sites in Australia, South Korea, and the U.S.

PAS-004 is also under investigation in a separate Phase 1 trial for advanced cancers, furthering Pasithea’s focus on RASopathies, MAPK pathway-driven tumors, and other diseases.

#5: Relmada Therapeutics

Relmada Therapeutics, Inc. (NASDAQ: RLMD) announced it had regained compliance with the Nasdaq Stock Market’s minimum bid price requirement, ensuring its continued listing on the Nasdaq Capital Market.

The company confirmed on September 15, 2025, that Nasdaq issued a compliance notice after Relmada’s shares maintained a closing bid price of at least $1.00 for ten consecutive trading days, from August 29 to September 12. With this milestone, Nasdaq had closed the matter, and Relmada remains in full compliance with all listing requirements.

“This confirmation from Nasdaq underscores our commitment to maintaining financial and operational stability while advancing our pipeline,” the company stated.

Relmada, which is a clinical-stage biotechnology firm, is developing therapies for oncology-related and central nervous system conditions. Its lead drug candidates, NDV-01 and sepranolone, are progressing through mid-stage clinical trials targeting significant unmet medical needs.

Despite this milestone, analysts remain cautious. The most recent rating on RLMD stock is a Hold with a $1.00 price target, reflecting the company’s high-risk, high-reward biotech profile. While Relmada’s strong cash reserves provide support, challenges such as discontinued projects and reliance on external financing continue to weigh on its outlook.