March 2024 - HempWire

ThursdayMar 28, 2024 2:30 pm

Nebraska Lawmakers Pass Bill Imposing 100% Tax on CBD, Hemp Products

A legislative committee in Nebraska has approved a measure that would impose a 100% tax on CBD and hemp products in the state. The committee approved the bill in a 7 to 0 vote. It is expected that the state’s unicameral legislature will take up the proposed legislation later this week. According to the bill’s sponsor, Senator Lou Ann Linehan, this tax hike is focused on bringing in additional funds to help offset property tax bills. The bill also includes reforms such as the elimination of sales tax exemptions on candy, soda, pet services, lottery tickets and ad revenue. This…

ThursdayMar 28, 2024 9:00 am

Astrotech Corp. (NASDAQ: ASTC) and AgLAB Inc. Use Mass Spectrometer Technology to Significantly Enhance Hemp and Cannabis Production Yield and Profit

The cannabinoid market value in 2023 was $22.23 billion and is expected to grow at a CAGR of 15.3%, resulting in an estimated market value of $60.36 billion The global mass spectrometry market will reach $6.77 billion in 2024 and is expected to grow at a CAGR of 6.25%, reaching $9.17 billion by 2029. Astrotech and subsidiary AgLAB Inc. are using mass spectrometry to boost the profitable yield of hemp and cannabis production The United States has seen a rising awareness of the health and therapeutic benefits of cannabinoids, prompting an expected market increase of 15.3%, from $22.23 billion in…

TuesdayMar 26, 2024 10:00 am

21 State AGs Urge Congress to Act on Hemp-Derived Intoxicants

Attorney generals from various states across the country as well as Washington, D.C., are urging leaders in Congress to act on hemp-derived intoxicants. In a letter penned to legislators in the Senate and House agriculture committees, these top state law-enforcement officials asked that legislators revise hemp’s definition in the 2018 Farm Bill and allow states to implement their own initiatives to regulate the crop and its products. The bill defines hemp as cannabis with a delta-9 THC concentration not exceeding 0.3% on a dry weight basis but exempts other derivatives and extracts. This loophole has allowed intoxicants from hemp to…

MondayMar 25, 2024 12:45 pm

Lexaria Bioscience Corp. (NASDAQ: LEXX) Hires Contract Research Organization to Perform Important GLP-1 Human Pilot Study

Lexaria, a global innovator in drug delivery platforms, recently hired a Contract Research Organization to perform their second GLP-1 human pilot study which will test a dissolvable DehydraTECH-GLP-1 oral dose formulation The announcement follows Lexaria’s WEIGHT-A24-1 animal study announcement examining diabetes and weight loss effects of DehydraTECH-processed GLP-1 drugs and cannabidiol alone and in combination The move aligns with the company’s resolve to focus on their ability to enhance the delivery of GLP-1 diabetes and obesity drugs At the beginning of the year, Lexaria Bioscience (NASDAQ: LEXX), a global innovator for enhanced drug delivery platforms, announced its intention to double down…

ThursdayMar 21, 2024 2:00 pm

Arizona Attorney General Says Hemp-Based THC Products Are Illegal

Attorney General Kris Mayes of Arizona recently gave her opinion on the sale of products derived from hemp in the state, focusing on delta-8 tetrahydrocannabinol (“THC”). This compound, which has a similar make up to delta-9 THC, is manufactured from cannabis, which naturally occurs in hemp. Hemp was legalized with the passing of the 2018 Farm Bill, which allowed CBD derived from hemp to be synthesized into THC. Since then, states such as Arizona have seen the proliferation of delta-8 THC products in various retail locations, including convenience stores and gas stations but not in state-licensed dispensaries. These products are…

ThursdayMar 21, 2024 9:00 am

Lexaria Bioscience Corp.’s (NASDAQ: LEXX) DehydraTECH(TM)-CBD Achieves 7% Weight Loss; Sets Stage for 8-week Diabetes and Weight Loss Animal Study

Lexaria, a global innovator in drug delivery platforms, highlighted results from its DIAB-A22-1 animal study, highlighting a 7% reduction in weight and a 19.9% reduction in blood glucose With this success, Lexaria looks to kick off its WEIGHT-A24-1 animal study to examine diabetes and weight loss effects of its patented DehydraTECH(TM)-processed GLP-1 drugs and DehydraTECH-processed CBD The study will comprise 12 arms and involve 72 animals. It will run for a total of 12 weeks This study will build on previous studies that evidenced DehydraTECH’s potential to enable greater penetration of GLP-1 drugs into the brain tissue Lexaria Bioscience (NASDAQ:…

TuesdayMar 19, 2024 3:00 pm

USDA Publishes Roadmap for Hemp Highlighting Research Needs

Hemp was federally legalized under the 2018 Farm Bill, permitting its cultivation and production. Last week, the U.S. agriculture department published a roadmap for hemp that focused on the crop’s research needs. The roadmap is divided into the following areas: best production practices, genetics and breeding, consistency and transparency, and biomanufacturing for end uses. The department explained that these areas were important in strengthening research on the hemp industry and focused on the entire hemp supply chain. The roadmap is the outcome of a National Hemp Industry workshop held in 2022 that was organized by the Global Hemp Innovation Center…

MondayMar 18, 2024 9:00 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Marks Huge 2024 Milestone with FDA Clearance for its Planned U.S. Phase 1b Hypertension Clinical Trial

Lexaria, a global innovator in drug delivery platforms, recently received FDA clearance for its HYPER-H23-1 clinical study John Docherty, President of Lexaria, has regarded this milestone as a demonstration of its patented DehydraTECH(TM) technology’s overall viability, particularly in the potential treatment of hypertension With HYPER-H23-1, Lexaria looks to build on the success of its previous human clinical studies, whose results have been overwhelmingly positive This marks a considerable milestone even as the company looks to double down on GLP-1 studies for the 2024 calendar year Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just announced that the…

ThursdayMar 14, 2024 10:00 am

Massachusetts Authorities Consider Regulating Intoxicants Derived from Hemp

During a legislative hearing last week, the commissioner of Massachusetts’ agriculture resources department was asked by Senator Michael Moore what she was doing about the spread of hemp products with extremely high THC doses. Ashley Randle, the commissioner, stated that her agency was aware of the issue and was working with the public health department to issue new guidance on how these hemp products needed to be treated. This was seen as a huge step forward, particularly since technically, hemp gummies and drinks with high THC doses aren’t legal in the state. Despite that, for some time now, the products…

TuesdayMar 12, 2024 3:00 pm

Hemp Firms in New York File Lawsuit to Quash New Rules

The Office of Cannabis Management is being sued by New York-licensed hemp companies in federal court. In a lawsuit filed earlier this month in the Southern District of New York, 10 hemp companies claimed that raids aimed at cracking down on the illicit marijuana market and the enforcement of revised hemp regulations had catastrophically affected their businesses. The crackdown came after the Cannabis Control Board approved a resolution to reduce the proliferation of products that contained cannabinoids derived from hemp and create a safe environment that would allow the state’s budding legal market to flourish. The defendants include the Office…