Key Takeaways; Cannabis Sector

• Canopy Growth Posted 13% Revenue Growth as Losses Narrowed Sharply in Q1 FY2027
• Aurora Cannabis Narrowed Q1 Loss as International Medical Cannabis Growth Gained Ground
• Cronos Group Reported Record Q2 Revenue as Profitability and EBITDA Surged

Key Takeaways; Psychedelic Sector

• Compass Pathways is Building Momentum Toward Potential COMP360 Launch as Veterans Affairs Partnership Expanded Clinical Program
• Optimi Health is Transforming Mental Health Through Innovative Psychedelic Therapies
• Clearmind Received Approval to Advance CMND-100 Into Alcohol Use Disorder Patients as the Company Aims to Expand Beyond Biotech

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: Canopy Growth

Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) reported stronger first-quarter results for fiscal 2027, with revenue growth across all of its businesses and a significant reduction in losses as the company continues to focus on cultivation, cost discipline and expansion in key cannabis markets.

For the three months ending June 30, 2026, Canopy Growth reported it had generated net revenue of C$81.2 million, up 13% from the same period a year earlier. Cannabis revenue rose 14% to C$65.1 million, while revenue from Storz & Bickel increased 6% to C$16.1 million.

Canada remained the company’s largest contributor. Medical cannabis revenue climbed 22% year over year to C$25.8 million, supported by growth in insured customers and the acquisition of MTL Cannabis. Adult-use cannabis revenue increased 10% to C$29.7 million, driven largely by stronger flower sales following the MTL acquisition. Additionally, the company announced that international cannabis revenue also rose 10% to C$9.6 million, with Europe; particularly Poland, providing much of the growth.

Canopy’s net loss fell 68% year over year, while its adjusted EBITDA loss narrowed 59% to C$3.2 million. The improvement was attributed to higher revenue and ongoing cost-saving measures, although the company reported that reduction in Canada’s Veterans Affairs medical cannabis reimbursement rate continued to weigh on the medical business.

Canopy’s Chief Executive Officer, Luc Mongeau, said the momentum built over the previous year had carried into fiscal 2027. “In the first quarter, we achieved net revenue growth in every business through solid execution across the organization,” he said, adding that the company’s strategy remains centered on producing a “consistent and increasing supply of high-quality flower” to meet demand in Canada and international markets.

Chief Financial Officer, Tom Stewart, also commented stating that the combination of revenue growth and tighter cost management was improving key profitability measures. He also highlighted the MTL Cannabis integration, which Canopy expects to generate additional supply, revenue opportunities and synergies, with further financial improvements anticipated in the second half of fiscal 2027.

Despite the improved operating performance, free cash outflow increased to C$25.7 million from C$11.6 million a year earlier, largely because of the timing of working-capital changes.

The company also used the results announcement to unveil a refreshed corporate identity. Canopy said the new branding reflects its evolution toward a more focused, consumer-oriented cannabis company built around quality, innovation and disciplined execution.

#2: Aurora Cannabis

Edmonton-based cannabis producer Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) reported a substantially smaller loss in the first quarter of fiscal 2027 as growing international medical cannabis sales helped offset weaker Canadian medical revenue and the company’s continued retreat from consumer cannabis.

The company generated C$67.6 million in net revenue for the three months ending June 30, 2026, down 9% from a year earlier. Despite the lower revenue, gross profit increased to C$35.6 million from C$33.5 million, while net loss from continuing operations fell 60% to C$4 million.

Medical cannabis remained the core of Aurora’s business, generating C$64 million in revenue, broadly in line with the previous year. However, the composition of those sales shifted significantly toward international markets. International medical cannabis revenue rose 17% to C$43.3 million, which according to the company was driven primarily by stronger demand in Germany.

That growth more than offset a 25% decline in Canadian medical cannabis revenue, which fell to C$20.7 million. Aurora attributed the decline largely to changes in the federal reimbursement program that took effect April 1 and reduced Veterans Affairs Canada reimbursement rates by approximately 30%.

Aurora’s consumer cannabis business continued to contract as part of its strategic decision to concentrate resources on higher-return medical markets. Consumer cannabis revenue fell nearly 74% to C$2.1 million, compared with C$7.9 million a year earlier. Adjusted gross margin before fair-value adjustments also declined to 58% from 64%, while adjusted EBITDA fell to C$3.4 million from C$10.8 million. Aurora nevertheless maintained a strong balance sheet, ending the quarter with C$149.1 million in cash, cash equivalents and short-term investments and no debt.

The company is betting that international medical cannabis will provide the next phase of growth. Its acquisition of Safari Flower Company added a 59,000-square-foot EU-GMP-certified cultivation and manufacturing facility in Ontario. Aurora announced plans to invest about C$3.5 million over three years to increase production efficiency and cultivation capacity.

“We remain confident in our commercial execution,” CEO Aurora, Miguel Martin, said, pointing to Aurora’s genetics program and regulatory and operational expertise in markets including Canada, Germany, Poland, Australia and New Zealand. He said the company’s strategy is to expand EU-GMP manufacturing capacity to serve growing international medical cannabis demand.

#3: Cronos Group

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) delivered a record second quarter in 2026, reporting US$53.0 million in net revenue as stronger cannabis sales in Israel, Germany and Canada drove substantial gains in profitability.

According to Cronos, revenue for the three months ending June 30 rose 58% from US$33.5 million a year earlier. Gross profit nearly doubled to US$28.5 million, compared with US$14.5 million in the second quarter of 2025, while gross margin improved to 54% from 43%.

The company also returned to profitability. Cronos reported net income of US$35.7 million, reversing a net loss of US$38.5 million in the same quarter last year. Adjusted EBITDA climbed to US$13.1 million from US$1.7 million, a 675% year-over-year increase.

Cronos said the revenue increase was primarily driven by higher cannabis flower sales in Israel and other international markets, particularly Germany, as well as stronger flower and extract sales in Canada. The company also benefited from a stronger Israeli shekel against the U.S. dollar. International markets outside Israel generated record quarterly revenue, with sales increasing 88% year over year.

Israel remained a major growth engine. Cronos Israel posted its tenth consecutive quarter of record revenue, with sales increasing 60% year over year, or 32% on a constant-currency basis. The company said its PEACE NATURALS brand continued to strengthen its position in the Israeli medical cannabis market.

In Canada, Cronos continued to build on the performance of its Spinach portfolio. The brand remained the country’s leading vape and edible brand, while also gaining ground in flower and pre-rolls. Cronos said Spinach held the No. 1 position in vapes for the second consecutive quarter and in edibles for the eighth consecutive quarter.

The company ended the quarter with US$827.0 million in cash, cash equivalents and interest-bearing deposits. Cronos also repurchased 12.3 million shares during the first half of 2026, as management continued to prioritize shareholder returns alongside investment in growth.

“Cronos delivered a record second quarter by organically achieving record net revenue, record gross profit and record Adjusted EBITDA, while also reducing our share count,” said Mike Gorenstein, Chairman, President and CEO of Cronos.

The company also announced it is preparing to complete its planned acquisition of CanAdelaar B.V., a Dutch cannabis producer participating in the country’s-controlled cannabis supply chain experiment. Cronos expects the transaction to close in the second half of 2026, subject to regulatory clearance and other closing conditions.

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Top Psychedelic Companies for Week

#1: Compass Pathways

Compass Pathways plc (NASDAQ: CMPS) is entering the second half of 2026 with a stronger financial position and growing clinical momentum as it advances COMP360, its investigational synthetic psilocybin treatment for treatment-resistant depression (TRD).

On Wednesday, the company reported a second-quarter net loss of $253.8 million, or $1.88 per share, compared with analysts’ expectations for a loss of 34 cents per share. The sharp increase was largely attributable to a $205.6 million non-cash fair-value loss related to warrants rather than a comparable increase in underlying operating costs. Compass ended June with $433.3 million in cash and cash equivalents, up substantially from $149.6 million at the end of 2025. Management said the balance should fund operating and capital requirements into 2028.

Despite the reported loss, Compass pointed to encouraging results from its Phase 3 program. The company said two positive trials involving more than 1,000 people with highly chronic TRD showed rapid improvements in depression symptoms, with benefits sustained for at least six months in participants who responded to treatment. Compass also reported that COMP360 was generally well tolerated, with most treatment-emergent adverse events described as temporary and occurring around the dosing day.

According to the company, regulatory preparations are now a central focus. The U.S. Food and Drug Administration has allowed Compass to pursue a rolling New Drug Application submission, with the company expecting to complete the filing in the fourth quarter. If approved and followed by the necessary regulatory rescheduling, Compass anticipates a commercial launch in the first half of 2027.

“The first half of 2026 marked a defining period for Compass,” CEO of Compass Pathways, Kabir Nath, said, citing progress across clinical development, regulatory preparation and commercial readiness. He added that the company’s focus is now on “disciplined execution” as it completes its filing and prepares to make COMP360 available to patients with TRD as quickly as possible if approved.

Compass is also broadening the potential reach of its clinical program through a new collaboration with the U.S. Department of Veterans Affairs. Announced August 6, the PIVOT study; Psilocybin Intervention for Veterans Overcoming Treatment-Resistant Depression, will investigate COMP360 in veterans with TRD, including participants who also have PTSD.

Compass said it will provide the study drug at no cost and assist with investigator education and training on treatment administration protocols. The Veterans Affairs research team will subsequently train healthcare providers involved in the trial.

“We’re honored to be selected as the partner of choice for this groundbreaking study,” Nath said, describing the project as an opportunity to explore COMP360 in a veteran population facing particularly complex mental-health needs. Principal investigator Dr. Lori Davis also said the study could help examine psilocybin’s potential in treating both TRD and co-occurring PTSD, an area she characterized as largely unexplored.

The developments give Compass two parallel paths forward: preparing COMP360 for a potential commercial debut in TRD while continuing to test its potential in other underserved populations and conditions. With a substantial cash runway, late-stage PTSD research underway and the NDA process advancing, the company said it is positioning the remainder of 2026 around execution, and the possibility of bringing its first psychedelic-based treatment to patients in 2027.

#2: 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.

#3: Clearmind Medicine

Clearmind Medicine Inc. (NASDAQ: CMND) announced it had reached a key milestone in the development of its experimental treatment for alcohol use disorder (AUD), while simultaneously pursuing an expansion into electric-vehicle charging technology. This week, the company announced regulatory clearance to move CMND-100 into patient testing and separately signed a non-binding agreement to acquire a majority stake in an EV wireless-charging company.

The clinical advance followed a review by an independent Data and Safety Monitoring Board (DSMB), which unanimously approved progression of Clearmind’s FDA-regulated Phase I/II trial into Parts B and C. According to Clearmind, the decision came after Part A met its primary safety objective, with CMND-100 showing a favorable safety and tolerability profile across the planned dose levels in healthy participants.

Part B will represent the first time CMND-100 is administered to people with moderate-to-severe AUD. Two sequential cohorts of six patients will receive either 80 mg or 160 mg, with researchers evaluating safety and tolerability as well as early indications of whether the treatment can reduce alcohol consumption and craving. Part C will run alongside the patient study and will examine a fixed 160 mg daily dose over five consecutive days in healthy participants under a double-blind, placebo-controlled design.

“Receiving DSMB approval to advance our clinical trial to patients with AUD marks an important milestone for Clearmind,” CEO, Adi Zuloff-Shani, said. She added that the successful dose-escalation phase had positioned the company to evaluate CMND-100 “in the population it is designated to help.”

Alongside the clinical development, Clearmind announced a move into a very different technology sector. On August 3, the company signed a non-binding Letter of Intent to acquire a 51% stake in a company developing wireless charging systems for automated parking systems and autonomous mobile platforms.

The proposed transaction valued the majority stake at $2.5 million. As part of the proposed deal, Clearmind would also provide the target company with a $1.5 million loan carrying 4% annual interest and repayable two years after closing. The acquisition remains subject to definitive agreements, due diligence and other closing conditions.

The target company’s technology uses wireless charging, smart communication and dynamic energy management, with charging capabilities of up to 10 kW. Clearmind said the system is designed to operate without cables or manual connections and is intended for applications including robotic parking and autonomous vehicles.