Key Takeaways; Cannabis Sector

• Tilray Brands Expanded Medical Cannabis Platform with HelloMD Acquisition 
• Vireo Growth Entered Pennsylvania with $20 Million Retail License Deal

Key Takeaways; Psychedelic Sector

• Optimi Health Shipped Third Commercial Psilocybin Export to Australia 
• Helus Pharma Reported Wider Fiscal Year 2026 Loss as Lead Depression Drug Advances Toward Phase 3 Readout
• Clearmind Medicine Strengthened IP Portfolio with New U.S. Patent for Binge Behavior Treatments 

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 Brands 

Tilray Brands, Inc. (NASDAQ TLRY) (TSX: TLRY) strengthened its medical cannabis business with the acquisition of HelloMD Corporation, a digital healthcare and patient engagement platform, in a move designed to expand direct patient access and reinforce its global growth strategy. The company announced that it was the successful bidder in HelloMD’s court-supervised sale process and will acquire the Canadian medical cannabis assets following court approval. Financial terms of the transaction were not disclosed.

The acquisition gives Tilray a digital platform that connects patients with medical cannabis education, physician consultations and ongoing support, creating what the company described as a fully vertically integrated medical cannabis framework in Canada. By combining HelloMD’s technology with its cultivation, clinical expertise and national distribution network, Tilray aims to provide a more seamless experience for both patients and healthcare practitioners.

“Medical cannabis is becoming a more integrated part of healthcare, and patients are looking for trusted, convenient access to care supported by education and guidance,” said Blair MacNeil, President of Tilray Canada. He added that the combination will create “a more connected pathway for patients and healthcare practitioners in Canada” while strengthening Tilray’s position in regulated medical cannabis markets worldwide.

HelloMD has supported hundreds of thousands of patients through telehealth consultations, educational resources and personalized medical cannabis guidance. Tilray believes the platform will also help engage patients earlier in their healthcare journey, increasing awareness of regulated, plant-based treatment options while complementing its international network of cultivation, manufacturing, distribution and pharmacy operations.

The company also sees opportunities to use HelloMD’s digital education capabilities to increase awareness of medical cannabis in adjacent wellness areas such as sleep support and pain management, subject to applicable regulations.

HelloMD Chief Executive Officer, Larry Lisser, welcomed the transaction, saying, “From day one, our mission at HelloMD has been to make medical cannabis more accessible through innovative technology, approachable education, and trusted healthcare experiences.” He added that Tilray has the expertise and infrastructure to expand the platform’s reach and deliver long-term benefits for patients.

#2: Vireo Growth

Vireo Growth Inc. (CSE: VREO) (OTCQX: VREOF) announced it was expanding into Pennsylvania after signing an agreement to acquire a cannabis retail license through a joint venture with Hive Holdings, Inc., marking the company’s entry into its 11th U.S. state.

The transaction, which was valued at approximately $20 million, will see the joint venture, Vive Penn, acquiring PhytoNatural, which holds a non-operational retail permit. Subject to regulatory approval, the license would allow the venture to establish up to six medical cannabis dispensaries across Pennsylvania. The deal includes an $8 million cash payment at closing, with the remaining consideration to be paid in Vireo shares two years after the transaction is completed.

Chief Executive Officer of Vireo, John Mazarakis, said Pennsylvania represents an important growth opportunity, noting that the state has nearly 450,000 registered medical cannabis patients. “This transaction, in partnership with Vive, provides Vireo with an entry into Pennsylvania through the ability to operate up to six medical dispensaries,” he said. “We are evaluating sites for the Vive retail stores, and we believe we are well-positioned to build a meaningful presence in one of the country’s leading limited-license cannabis markets.”

The acquisition continues Vireo’s rapid expansion strategy, which has included a series of acquisitions across several U.S. cannabis markets over the past two years. The company now operates cultivation, manufacturing, retail and distribution businesses in 10 states, with approximately 170 dispensaries nationwide.

The Pennsylvania transaction is expected to close once all regulatory approvals and customary closing conditions have been satisfied, further strengthening Vireo’s multi-state footprint as it continues to pursue growth through strategic acquisitions.

Top Psychedelic Companies for Week

#1: Optimi Health

Optimi Health Corp. (NASDAQ: OPTH) completed its latest export of 5mg psilocybin capsules to Australia, marking the company’s third commercial shipment since launching the product in September 2025. According to Optimi, the latest shipment consisted of 1,000 capsules, which are prescribed in Australia for patients with treatment-resistant depression (TRD), where regulated patient access is available.

The company said the export reflects growing commercial demand in Australia’s regulated psychedelic medicine market. The capsules are manufactured entirely at Optimi’s GMP-certified facility in Princeton, British Columbia, before being shipped to pharmacy partners under Health Canada export authorization.

“We are proud to be among the few Nasdaq-listed companies commercially supplying psilocybin to patients with treatment-resistant depression outside of clinical trials,” said CEO and Co-Founder of Optimi, Dane Stevens. He added that the company is seeing expanding reimbursement from both private and public insurers and believes Australia is providing an early model for the safe prescription of naturally derived psilocybin in real-world clinical practice. Stevens also said the company is not aware of any serious adverse events reported under Australia’s regulated framework through December 31, 2025.

Australia became the first country to recognize psilocybin as a controlled medicine for the treatment of TRD in July 2023. Under the Therapeutic Goods Administration’s Authorized Prescriber Scheme, Optimi’s psilocybin is reimbursed by a range of public and private payers, while more than 750 clinicians have been trained to deliver the therapy.

Optimi, which also manufactures MDMA, said recurring orders from Australia contribute to its commercial revenue as it continues supplying regulated psychedelic medicines for both therapeutic use and clinical research internationally.

#2: Helus Pharma

HELUS Pharma (NASDAQ: HELP) (Cboe CA: HELP) reported a fiscal year 2026 loss per share of $4.25, compared with a loss of $4.04 per share in fiscal 2025, as the clinical-stage biotechnology company continued investing in its late-stage development pipeline. Cash and cash equivalents totaled $157.3 million as of March 31, with the company subsequently strengthening its balance sheet through a recently completed $50 million underwritten offering.

The company said its lead candidate, HLP003, remains on track for a pivotal Phase 3 topline data readout in the fourth quarter of 2026. Last week the company reported that the APPROACH study had now surpassed 88% enrollment, while enrollment is also underway in the second Phase 3 trial, EMBRACE. HLP004, which is the company’s treatment candidate for generalized anxiety disorder, is expected to advance to its next study design by the end of the third quarter.

“Over the past year, Helus Pharma has strengthened its position as a segment-leading, clinical-stage pharmaceutical company, advancing HLP003 toward a critical Phase 3 readout in 4Q26 and progressing HLP004 to its next study design by the end of 3Q26,” Interim CEO of Helus Pharma, Eric So said. He added that the company is “at an inflection point” as it moves toward potential commercialization of HLP003, subject to regulatory approval, and said the recent financing “represents a strong vote of confidence” from institutional investors while supporting execution of the EMBRACE Phase 3 trial and a potential U.S. FDA New Drug Application in 2028.

Following the results, Canaccord Genuity lowered its price target on Helus Pharma to $42 from $45 while maintaining a Buy rating. The firm said it continues to see significant upside potential ahead of the Phase 3 APPROACH data expected later this year for HLP003, which is a deuterated psilocin analog being developed as an adjunctive treatment for major depressive disorder. 

#3: Clearmind Medicine

Clearmind Medicine Inc. (NASDAQ: CMND) announced it had been granted a new U.S. patent by the United States Patent and Trademark Office, further expanding its intellectual property protection for therapies targeting binge-related disorders.

According to Clearmind, the newly issued U.S. Patent No. 12,357,590, titled “BINGE BEHAVIOR REGULATORS,” builds on the company’s previously granted U.S. Patent No. 12,350,242 and strengthens protection surrounding its proprietary MEAI (5-methoxy-2-aminoindane) molecule and related 2-aminoindan derivatives. The patent covers the use of these compounds to regulate binge behaviors, including excessive alcohol consumption, overeating, and other compulsive disorders.

Clearmind said the latest patent enhances what it believes is one of the psychedelic biotechnology sector’s most comprehensive global intellectual property portfolios. The clinical-stage company now holds 19 patent families comprising 32 granted patents and said it intends to continue expanding its intellectual property portfolio through additional patent filings and strategic acquisitions where appropriate.

The company is developing non-hallucinogenic, neuroplastogen-derived therapeutics, with its lead programs focused on addressing underserved conditions such as alcohol use disorder and other compulsive behaviors.