February 2024 - HempWire

ThursdayFeb 29, 2024 1:30 pm

Advocates Voice Concerns as Bill Restricting Hemp Clears Wyoming Senate, Heads to House

Last week, Senate File 32 completed its third reading in the Wyoming senate. The bill has now been forwarded to the state’s House of Representatives. From there, it will be forwarded to undergo committee review and then be debated on the floor. If no amendments are proposed, it will be advanced to the governor’s desk for his veto or approval. This bill seeks to impose a limitation on psychoactive substances and would eliminate the ability of anyone to sell hemp products that contained HHCo, delta-10, delta-8 and other products with low THC content in the state. This puts independently owned…

TuesdayFeb 27, 2024 3:00 pm

Hemp Emerges as Viable Green-Building Material

A nonpsychoactive variant of cannabis called hemp is emerging as a renewable alternative to traditional building materials. Long before cannabis prohibition effectively banned the cultivation of all types of cannabis, hemp was used for centuries to make everything from clothes and ropes to sails and riggings in ships. However, hemp cultivation and use in the United States was prohibited for several decades until Congress legalized the cannabis variant via the 2018 Farm Bill. With many states launching individual hemp programs in the years after, hemp has attracted significant attention because of its many potential applications. One of the more revolutionary…

TuesdayFeb 27, 2024 11:15 am

Astrotech Corp. (NASDAQ: ASTC) Reports 512% Jump in YTD Revenue

Astrotech reported financial results for the quarter ended December 31, 2023, recording year-to-date revenue of $1,540,000 The company attributed the growth to the successful fulfillment of two significant purchase orders for the TRACER 1000(TM), the world’s first mass spectrometer-based explosive trace detectors (“ETD”), to customers in Romania Astrotech is focused on commercializing its innovative platform mass spectrometry technology through its wholly owned subsidiaries 1st Detect Corp., AgLAB Inc., Pro-Control Inc., and BreathTech Corp. The company and its subsidiaries are positioned to capitalize on burgeoning markets, including the global mass spectrometry market, expected to grow from an estimated $6.77 billion in…

TuesdayFeb 27, 2024 9:45 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Announces Closing of $3.6 Million Registered Direct Offering

Lexaria, a global innovator in drug delivery platforms, just announced $3.6 million in gross proceeds from its registered direct offering priced at the market The proceeds will go to critical R&D studies, patent, and legal costs, as well as general working capital purposes This is timely, given Lexaria’s resolve to double down on GLP-1 investigations for the 2024 calendar year Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, recently announced that the registered direct offering for the purchase and sale of 1,558,443 shares of common stock at a purchase price of $2.31 – at the market under…

ThursdayFeb 22, 2024 1:00 pm

Florida Moves Closer to Outlawing Delta-8 Products from Hemp

Florida may soon ban delta-8 products such as vapes, edible gummies and joints. This comes after senators approved a measure that would prevent naturally occurring or synthetic delta-8 and delta-10 from being sold legally as hemp products. Delta-8 and delta-10 can produce a psychoactive high when consumed. Delta-8 is a naturally occurring tetrahydrocannabinol (“THC”) compound; THC is one of the two main psychoactive compounds found in the marijuana plant, the other being cannabidiol (“CBD”). An identical measure in Florida’s house, HB 1613, may soon be voted on. The senate measure in question, SB 1698, would impose a limit on the…

TuesdayFeb 20, 2024 3:30 pm

Advocates Happy the USDA Included Hemp in its Census

Enhancing federal oversight of hemp and addressing key concerns within the marijuana industry will now be more feasible after hemp receives dedicated recognition in the US Department of Agriculture’s (“USDA”) Census of Agriculture, according to industry stakeholders. Joshua Bates, a statistician at USDA, highlighted the significance of hemp being included in the 2022 Ag Census, which was released recently. He emphasized the extensive scope of the census, which offers county-level information on hemp production, a feature not included in the yearly National Hemp Report. The census provides a thorough overview of many farming-related topics, allowing for in-depth examination and additional…

TuesdayFeb 20, 2024 10:30 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Doubles Down on GLP-1 Clinical Studies for 2024; Terms 2023 as its Most Successful and Active Year of R&D

Lexaria, a global innovator in drug delivery platforms to enhance bioavailability, announced recently that it will focus on GLP-1 applications for diabetes and weight loss for the 2024 calendar year Chris Bunka, Lexaria’s CEO, has expressed his confidence in the company’s direction, reiterating the intention to demonstrate the superior performance of GLP-1 drugs processed with its patented DehydraTECH(TM) technology The company looks to build on the success of the early-stage results achieved in 2023, and looks to embark on two human pilot studies, a multi-arm 12-week animal chronic study, a human chronic weight-loss and diabetes study, as well as a…

ThursdayFeb 15, 2024 11:25 am

New Report Shows the Market for Hemp is Set for Explosive Growth

A recent study has found that by 2027, the value of the global market size of industrial hemp will have hit $18.6 billion. This valuation will be reached if the market grows at the projected compound annual growth rate of 22.4%. The global hemp market is based on source, type, region and application. Based on source, it is classified into organic or conventional, and when it comes to application, this market is studied across textiles, food and beverages, pharmaceuticals and personal-care products. On the basis of type, the market is categorized into hemp fiber, hemp oil and hemp seed, among…

WednesdayFeb 14, 2024 9:00 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Kicks off 2024 with FDA IND Submission for its HYPER-H23-1 Phase 1b Human Clinical Trial

Lexaria, a global innovator in drug delivery platforms, just announced the submission of its IND application with the FDA for its HYPER-H23-1 phase 1b hypertension clinical trial This study will seek to evaluate the safety and tolerability of Lexaria’s patented DehydraTECH(TM) technology, specifically DehydraTECH-CBD, in hypertensive patients Lexaria expects to build on success of its previous studies, which showed positive results and DehydraTECH-CBD’s potential to have broad therapeutic utility Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just announced the submission of its much-anticipated Investigational New Drug (“IND”) application with the U.S. Food and Drug Administration (“FDA”)…

TuesdayFeb 13, 2024 12:30 pm

Normann Copenhagen Unveils Chairs Manufactured from Eelgrass, Hemp

Stockholm Design Week 2024 has seen companies launch various products, among them Foersom & Hiort-Lorenzen, which launched a new collection of plant-base furniture in collaboration with Normann Copenhagen. The collection comprises of a pair of chairs, one of which combines hemp with eelgrass and another made purely from hemp. Eelgrass is a plant similar to seaweed. To create shells, the design duo preferred to use the aforementioned biomaterials instead of injection-molded plastic. They used hemp stems sourced from farms that discarded the stems as a waste product. For their eelgrass chair, they combined dried eelgrass that washed up on the…