Key Takeaways; Cannabis Sector
- Village Farms Broke New Ground with Vape Launch in Quebec
- Organigram Announced Former BAT Strategy Chief as New CEO
- MTL Cannabis Posted Solid Second Quarter Results with Strong Margins and Improved Balance Sheet
- Cronos Expanded Lord Jones Lineup with Premium Live Resin Fusions Pre-Rolls in Canada
Key Takeaways; Psychedelic Sector
- Psyence BioMed Launched First Psilocybin Longevity Research Program
- Pasithea Therapeutics Gained Momentum with Major Funding, Strong Trial Data, and Expanding Clinical Pipeline
- Enveric Biosciences Received Fourth Notice of Allowance for its Series of Drug Candidates
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: Village Farms
Village Farms International Inc. (NASDAQ: VFF) officially entered Quebec’s newly opened cannabis vape market with the launch of Promenade Matin, marking what the company called “a major step forward” for regulated vaping in the province.
Promenade Matin, which was launched in partnership with Village Farms’ Quebec subsidiary Rose LifeScience Inc., arrives just as the province began permitting legal vape products for the first time. Until now, many Quebec vape consumers relied on out-of-province, medical, or unregulated sources due to the absence of a regulated option. That changed when the SQDC confirmed in November 2024 that it would allow the sale of cannabis vapes starting in fall 2025. The decision was aimed at offering Quebec consumers a safer, lower-risk alternative to unregulated vape products while drawing more consumers into the legal market.
Village Farms said Matin gives consumers a safe and regulated option. “Everything we develop starts with consumer experience,” said Orville Bovenschen, President of Village Farms Canadian Cannabis. “We obsess over the details – quality, consistency, taste – to make sure every product feels considered and crafted. Promenade vapes carry that same philosophy forward, offering Quebecers a reliable product line built with care.”
Additionally, Village Farms said demand is already clear. According to Village Farms, a recent study commissioned by the company shows that 55% of Quebec cannabis consumers are interested in buying regulated vape products, mainly because they trust the quality and safety of legal options.
Quebec is a crucial market for the company. The province accounts for 13% of Village Farms’ national cannabis sales and generated $202 million in cannabis revenue in the third quarter of 2025, a 10% increase from the previous year. With Quebec now embracing vapes, Village Farms expect significant growth potential both provincially and nationally.
#2: Organigram
Organigram Global Inc. (NASDAQ: OGI) (TSX: OGI) appointed James Yamanaka, previously the Global Head of Strategy at British American Tobacco p.l.c. (NYSE: BTI), as its next Chief Executive Officer. According to the company, he is expected to step into the role around January 15, 2026, and will join the company’s board at the same time. The leadership change follows the retirement of former CEO Beena Goldenberg, whose departure, which was announced in May, became effective on September 30, marking the close of Organigram’s fiscal year.
With more than two decades at BAT, Yamanaka is expected to bring extensive experience in global strategy and market development. His tenure included leading BAT’s strategy division and overseeing key markets in Europe and Asia.
Additionally, Organigram said that its board chairman, Peter Amirault, will transition into an interim executive chair role beginning December 1 to manage day-to-day operations until Yamanaka assumes full responsibilities. Moreover, Geoff Machum, chair of the Governance, Nominating and Sustainability Committee, will act as independent lead director during this period. “We are excited to have James join the Organigram team,” Mr. Amirault said. “James’ history of driving strong international growth aligns perfectly with Organigram’s global aspirations.”
Yamanaka expressed enthusiasm about the company’s trajectory, saying, “I have watched Organigram evolve into Canada’s number one recreational cannabis company by market share and believe it is well positioned to become a global leader in the cannabis industry. I look forward to building an international presence on Organigram’s strong foundation of high-quality products, trusted brands, and a commitment to industry-leading innovation.”
#3: MTL Cannabis
MTL Cannabis Corp. (CSE: MTLC) (OTCQX: MTLNF) reported second-quarter revenue of $25.4 million for fiscal 2026, reflecting stable performance despite a slight year-over-year dip. Net revenue came in at $20.6 million, nearly unchanged from the same quarter last year. The company highlighted gross margins of 50% before fair-value adjustments, which was up 7% from the previous quarter, along with continued positive Adjusted EBITDA of $2.22 million.
MTL CEO, Michael Perron, said the results highlighted the company’s operational discipline. “We are incredibly proud of our continued progress as a business,” he said. “We continue to make progress with the realignment of our internal supply chain to enhance profitability and internal capacity”. Perron emphasized that the company’s investments in cultivation technology and portfolio streamlining “will have meaningful and positive contributions towards our future margins and profitability.”
Perron also noted that MTL has strengthened its balance sheet by reducing legacy obligations. “This strategic reset aligns our balance sheet with the performance we are delivering across the business,” he said, adding that the company is positioning itself to capitalize on future growth opportunities throughout the year.
The quarter also included the closing of a new credit agreement with a Canadian Schedule 1 bank, which provided a suite of revolving and term facilities. According to the company, the financing package, which totaled approximately $27 million across four facilities, will support capital expenditures, working capital needs, and the refinancing of existing debt. All term facilities will mature in July 2028 and are secured against MTL’s assets.
MTL Cannabis operates multiple licensed production and medical-cannabis entities across Québec and Ontario. As a “flower-first” company known for craft-focused indoor cultivation, it markets several dried flower, pre-roll, and hash brands nationwide and continues to expand its export channels. The company says its long-term goal is to build Abba Medix into Canada’s leading medical-cannabis distributor and grow Canada House Clinics into the country’s top provider of cannabinoid-based clinical services.
#4: Cronos Group
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) expanded its Canadian product portfolio with the launch of Lord Jones Live Resin Fusions, a new line of premium pre-rolls designed to offer what the company calls an elevated, flavor-rich smoking experience. According to the company, the new additions reflect Cronos’ ongoing push to innovate within its luxury Lord Jones brand.
The new pre-rolls pair single-sourced dried flower with terpene-rich pure live resin caviar, blended at a ratio the company says ensures consistent potency and smoothness. Each 0.5-gram pre-roll delivers over 42% THC and includes a reusable ceramic tip crafted to cool the smoke for a refined draw.
Cronos stated it is rolling out three new strain combinations under the line: Durban Kush x Citrus Sap, Hell Fire OG x Cali Gas, and Sour Diesel x Orange Velvet. According to the company, each blend was selected to amplify both flavor and genetic quality.
“Our new pure live resin caviar-infused pre-rolls represent the essence of Lord Jones, artistry, craftsmanship, and an uncompromising commitment to quality,” said Mike Gorenstein, Cronos’ Chairman, President and CEO. “We’re proud to offer consumers a premium new way to enjoy cannabis, blending pure live resin with modern precision to create a truly elevated experience.”
According to Cronos, the products are now available at select Canadian retailers, with the full Lord Jones lineup showcased at Lord Jones website.
Top Psychedelic Companies for Week
#1: Psyence BioMed
Psyence Biomedical Ltd. (NASDAQ: PBM) announced a pioneering research program that will investigate whether psilocybin can influence biological markers linked to aging, making it the first publicly listed company to pursue psilocybin-based longevity science. The initiative, which was developed in partnership with leading South African researchers, aims to explore how the compound affects cellular stress, inflammation, mitochondrial function, and behavioral indicators connected to health span and lifespan.
The company said the project had already begun, with accelerated studies expected to start early next year pending ethics approval. The program will be led by neuroscientist Dr. Tanya Calvey. She stated that the scientific community is “only beginning to uncover the potential links between psychedelics and longevity,” adding that psilocybin’s influence on inflammation, neural connectivity, and cellular stress responses positions it as a promising candidate for aging-related research.
Psyence BioMed CEO, Jody Aufrichtig, also emphasized the broader significance of the effort, noting that longevity is becoming a “one of the most important global health frontiers.” He referenced rising public interest, driven by figures such as Bryan Johnson, who has explored both psychedelic therapies and longevity optimization. Aufrichtig said Psyence BioMed is “positioned at the forefront of an entirely new therapeutic arena,” given its status as the only publicly traded company actively studying psilocybin’s impact on aging biology.
This initiative expands Psyence BioMed’s therapeutic pipeline, complementing its ongoing clinical work, including a psilocybin-assisted therapy trial for existential distress in palliative care patients in Australia. The company said both programs support its mission to develop evidence-based, nature-derived psychedelic medicines targeting mental health and long-term biological wellbeing.
#2: Pasithea Therapeutics
This week Pasithea Therapeutics Corp. (NASDAQ: KTTA) experienced a surge in investor confidence as new funding, promising trial results, and fresh clinical momentum drove a sharp rise in the company’s stock. Shares climbed nearly 19% during the final week of November, with peak intraday jumps reaching more than 50% following a series of announcements that strengthened both the company’s scientific and financial position.
The rally followed Pasithea announcing pricing of a $60 million public offering at $0.75 per share, which was backed by leading healthcare-focused investors such as Vivo Capital, Janus Henderson Investors, Adage Capital Partners, amongst others. The company stated that this capital infusion will extend its cash runway “through at least the first half of 2028,” enabling broader clinical development, new technology acquisitions, and continuing work on its lead candidate, PAS-004. Pasithea CEO, Dr. Tiago Reis Marques, said the raise positions Pasithea to “advance long-term strategic programs with strengthened financial flexibility.”
Market enthusiasm was also amplified by new data from Cohort 7 of Pasithea’s ongoing Phase 1 trial of PAS-004 in advanced cancers. The company reported zero treatment-related adverse events and confirmed dose-proportional pharmacokinetics with continuous suppression of the MAPK pathway over 24 hours. “We are highly encouraged by the initial safety data generated,” Dr. Marques said, adding that PAS-004’s balanced PK/PD profile “will be critical for achieving clinical efficacy while minimizing adverse events commonly associated with MEK inhibitors.” Based on these findings, the Safety Review Committee recommended advancing to a higher dose Cohort.
Further boosting momentum, Pasithea received a $1 million Hoffman ALS Clinical Trial Award from the ALS Association to study PAS-004 in amyotrophic lateral sclerosis. Chairman of Pasithea, Dr. Lawrence Steinman, said the award validates the drug’s therapeutic potential, noting that PAS-004 has shown “significant and promising results in the gold-standard SOD mouse model.” The upcoming Phase 1 study will enroll 12 patients across three dose levels to assess safety, tolerability, and early functional and biomarker signals. The ALS Association stated it is “pleased to support the first dosing of PAS-004 in people living with ALS,” emphasizing the program’s potential to accelerate new treatment options.
With fresh capital, positive clinical signals, and expanding research efforts, Pasithea is positioning PAS-004 as a potential best-in-class MEK inhibitor across oncology, neurofibromatosis, and now ALS. The company’s recent trajectory suggests increasing confidence from both regulators and investors as it seeks to convert early clinical promise into long-term therapeutic and shareholder value.
#3: Enveric Biosciences
Enveric Biosciences, Inc. (NASDAQ: ENVB) announced that the U.S. Patent and Trademark Office had issued a Notice of Allowance for a patent application covering its EVM401 Series of neuroplastogenic molecules. This patent is the fourth in Enveric’s portfolio targeting non-hallucinogenic compounds for the treatment of psychiatric and neurological disorders.
The new application, which was titled “Substituted Ethylamine Fused Heterocyclic Mescaline Derivatives,” broadens Enveric’s intellectual property by covering additional molecules within the EVM401 Series. The company said these compounds are designed to promote neuroplasticity without hallucinogenic effects, positioning the pipeline to address unmet needs in neuropsychiatric and addiction disorders.
Director and CEO of Enveric, Dr. Joseph Tucker, commented, “Enveric is pleased with this upcoming addition to its overall patent estate and the growing pipeline of potential EVM401 molecules. This expansion of Enveric intellectual property demonstrates the Company’s ability to develop next-generation, non-hallucinogenic neuroplastogens intended for potential treatment of neuropsychiatric conditions.”
Enveric’s lead candidate, EB-003, is designed to selectively engage both 5-HT₂A and 5-HT₁B receptors, delivering rapid and durable antidepressant and anxiolytic effects suitable for outpatient use. The company continues to leverage its differentiated drug discovery platform and protected chemical library to advance a portfolio of small-molecule therapeutics aimed at enhancing neuroplasticity safely and effectively.