Feb 08, 2026 (Market Exclusive via COMTEX) --
Key Takeaways; Cannabis Sector
- Aurora Cannabis Announced Refocused Strategy as Global Medical Sales Hit Record High in 2026 Third Quarter
- Canopy Growth Reported Mixed Results in its Fiscal Third Quarter of 2026
- Cronos Group Launched Premium Lord Jones Brand in Israel in Global Expansion Push
Key Takeaways; Psychedelic Sector
- Clearmind Announced the Inclusion of its Proprietary Compound in Newly Introduced Legislation
- MIRA Pharmaceuticals Initiated Dosing in Final Cohort Ketamir-2 Study as Company Prepares for Phase 2 Study
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: Aurora Cannabis
Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) announced plans to reshape its business as it reported its financial and operational results for the third quarter 2026, confirming a strategic pivot away from lower-margin Canadian consumer cannabis and toward its fast-growing global medical operations. For the three months ended December 31, 2025, the company posted net revenue of $94.2 million, up 7% year over year, driven primarily by record medical cannabis sales.
Global medical cannabis generated $76.2 million in net revenue, accounting for more than 80% of total sales and marking a 12% increase compared to last year. Growth was led by Europe, particularly Germany and Poland, alongside stronger insurance-backed sales in Canada. Consumer cannabis revenue, by contrast, fell sharply to $5.2 million, down 48% year over year, as Aurora deliberately redirected supply to higher-margin medical markets.
"Aurora has established a commanding leadership position within the rapidly expanding, high-margin global medical cannabis market," said Executive Chairman and CEO of Aurora, Miguel Martin. "We achieved record quarterly net revenue in our global medical cannabis business through double-digit growth internationally."
While revenue increased, profitability was mixed. Aurora reported a net loss of $1.7 million for the quarter, compared with net income a year earlier, reflecting lower gross profits and higher operating costs. On an adjusted basis, however, the company delivered adjusted EBITDA of $18.5 million and generated $15.5 million in free cash flow, while maintaining a strong balance sheet with more than $154 million in cash and short-term investments.
As part of its strategic realignment, Aurora confirmed it will begin exiting select Canadian consumer cannabis markets in fiscal Q4 2026. The move is expected to reduce sales and marketing costs and improve margins over time. "We will begin exiting select markets within the lower Canadian consumer cannabis segment, enabling us to further prioritize allocating products and resources to our higher-margin global medical cannabis business," Martin said during the company's earnings call, adding that a full exit from the segment remains under consideration.
Alongside its financial update, Aurora reinforced its long-term European growth strategy with the launch of new localized medical cannabis websites for Germany, the UK, and Poland. According to Andreas Dotterweich, Senior Vice President of Aurora Europe, the new platforms reflect the company's commitment to the region. "Our new European websites are a demonstration of our ongoing investment and long-term commitment to Aurora’s fastest growing region," he said.
Looking ahead, Aurora expects full-year global medical cannabis revenue to rise to between $269 million and $281 million, with adjusted EBITDA projected to grow to as much as $57 million. Backed by strong margins, regulatory expertise, and expanding international demand, the company says its medical-first strategy positions it to pursue selective acquisitions and long-term growth in regulated markets worldwide.
#2: Canopy Growth
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) delivered mixed results in its third quarter fiscal 2026 financial results, with solid gains in its Canadian cannabis business offset by weaker international performance. For the three months ending December 31, 2025, the company reported revenue of $90.4 million and $74.5 million in net revenue after excise taxes, while narrowing its net loss by nearly half year over year to $62.6 million.
Canadian cannabis remained the core growth engine. Net revenue from the cannabis segment reached $51.6 million, up from $49.7 million a year earlier. Adult-use cannabis sales increased 8% year over year to $22.9 million, driven by strong demand for infused pre-rolls and new All-In-One vaporizers products. Medical cannabis in Canada also posted robust growth, with net revenue climbing 15% to $22.5 million, fueled by a growing base of insured patients, higher order sizes, and broader product offerings.
"The third quarter of fiscal 2026 reflects improving fundamentals and a more focused, integrated operating model across the business, led by strength in Canada," said Canopy Growth CEO, Luc Mongeau. "As we continue sharpening execution and move toward closing the acquisition of MTL Cannabis, we see a clear opportunity to further strengthen our platform over time."
International cannabis revenue told a different story. Sales outside Canada fell 31% year over year to $6.2 million, largely due to supply chain challenges in Europe. Management noted, however, that shipments improved late in the quarter, leading to sequential growth compared with Q2. Germany remained Canopy's largest international market, delivering $19.2 million in net revenue, up 8% year over year.
Canopy also highlighted progress on cost control and balance sheet strength. Adjusted EBITDA losses narrowed 17% year over year, marking a third consecutive quarter of improvement, while free cash outflow improved to $19 million. The company ended the quarter with $371 million in cash and cash equivalents and a net cash position of $146 million following a strategic recapitalization that was completed in January.
Moreover, Canopy's Chief Financial Officer, Tom Stewart, said the company's restructuring efforts are beginning to show results. "The decisive cost reduction actions that we have taken to date in fiscal 2026 have strengthened our current year financial performance and will ensure we are well positioned as we close out the fiscal year. We are confident that we can achieve our goal of delivering positive Adjusted EBITDA during fiscal 2027," he said.
Looking ahead, Canopy reaffirmed that the planned acquisition of MTL Cannabis Corp. (CSE: MTLC) (OTCQX: MTLNF), which is valued at $125 million on a fully diluted equity basis, remains on track and it's expected to close in the current quarter.
#3: Cronos Group
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) launched its premium Lord Jones cannabis brand in Israel, marking a key step in the company's borderless product strategy and expanding its international footprint into one of the world's most established medical cannabis markets. The move introduced a globally recognized brand to Israeli patients while reinforcing Cronos' focus on disciplined, quality-led growth.
According to the company, the initial rollout included five premium indoor-grown cannabis flower strains tailored for the Israeli medical market. Known in North America for its refined positioning and craftsmanship, Lord Jones entered Israel with an emphasis on consistency, quality, and patient-focused design.
"Israel has always represented a key market in our borderless product strategy," said Mike Gorenstein, Chairman, President and CEO of Cronos. "By introducing Lord Jones to Israeli patients, we are applying our global brand expertise to meet local demand while preserving the craftsmanship, quality standards, and premium identity that define Lord Jones."
Lord Jones products are produced using carefully selected genetics and small-batch indoor cultivation, followed by a cold-cure process designed to protect terpene profiles, aroma, and flower structure. Each batch is hand-trimmed, produced in limited quantities, and extensively tested. Finished products are packaged in glass jars to preserve freshness and shield the flower from light exposure.
Adam Wagner, General Manager of Cronos Israel, said the launch sets a new benchmark for the local medical market. "This brings a premium standard to the Israeli medical cannabis market, grounded in expertise and intention," he said. "Our end-to-end approach--from genetics and cultivation through processing and hand packaging--gives patients and pharmacists confidence in the standards behind the brand."
Cronos plans to expand the Lord Jones lineup in Israel with future special-edition and limited-run products. Lord Jones cannabis flower is now available through pharmacies across the country, further strengthening Cronos' growing portfolio of globally scaled cannabis brands.
Top Psychedelic Companies for Week
#1: Clearmind
Clinical-stage biotech company, Clearmind Medicine Inc. (NASDAQ: CMND), marked a significant week with two developments that strengthened both the regulatory visibility and clinical readiness of its proprietary compound, MEAI.
On Tuesday, Clearmind reported that MEAI was included in the Expanding Veterans' Access to Emerging Treatments Act of 2026 (H.R. 7091), which is a bipartisan bill introduced in the U.S. Congress. The legislation directs the Department of Veterans Affairs to establish investigational research and extended access programs for innovative therapies addressing unmet medical needs among veterans. Covered therapies include psilocybin, MDMA, MEAI, 5-MeO-DMT, ibogaine, ketamine, and other treatments designated by the Secretary of Veterans Affairs. This marked the first time MEAI had been named in U.S. federal legislation.
"We so greatly appreciate Congress introducing H.R. 7091, which offers a transformational opportunity for veterans suffering from alcoholism, post-traumatic stress disorder and other conditions to access emerging, promising therapies," said Clearmind CEO, Dr. Adi Zuloff-Shani. "We also appreciate the recognition of MEAI, a non-hallucinogenic neuroplastogen with the transformative potential to improve the health of veterans." She added that the bipartisan milestone "underscores growing support for innovative, evidence-based approaches to conditions like post-traumatic stress disorder, which remains a significant challenge for many veterans."
Complementing this policy milestone, Clearmind announced later in the week that it had entered into a development agreement with Polyrizon Ltd. (NASDAQ: PLRZ) to advance an intranasal formulation of MEAI. According to the company, the collaboration will apply Polyrizon's proprietary intranasal hydrogel technology to optimize delivery of Clearmind's lead non-hallucinogenic neuroplastogen, with the goal of enhancing bioavailability and supporting future clinical programs targeting addiction-related and other central nervous system disorders.
The intranasal approach is designed to offer several potential advantages over oral administration, including faster absorption, bypassing first-pass metabolism, and lower effective dosing. Clearmind believes these attributes could improve therapeutic outcomes and patient usability as MEAI progresses through clinical development.
"We are pleased to partner with Polyrizon to develop an intranasal formulation for MEAI," Dr. Zuloff-Shani said. "Their advanced hydrogel platform complements our efforts to optimize delivery, potentially improving bioavailability and therapeutic efficacy, and patient experience for our non-hallucinogenic neuroplastogen candidates."
#2: MIRA Pharmaceuticals
MIRA Pharmaceuticals, Inc. (NASDAQ: MIRA) reported a key clinical milestone this week with the initiation of dosing in the final cohort of its Phase 1 multiple ascending dose study evaluating Ketamir-2, which is the company's lead oral NMDA receptor antagonist. With 50 healthy volunteers already dosed and only six subjects remaining, the company expects to complete the Phase 1 program by the end of the first quarter of 2026.
The randomized, double-blind, placebo-controlled Phase 1 study is designed to assess the safety, tolerability, and pharmacokinetics of single and multiple oral doses of Ketamir-2. According to MIRA, data reviewed so far continue to support advancement of the program, with no serious adverse events reported, reinforcing confidence in the compound's clinical profile.
"We are pleased to have initiated dosing in the final cohort of our Phase 1 study, marking another important execution milestone for Ketamir-2," said Erez Aminov, Chairman and CEO of MIRA. "As we approach completion of Phase 1 and prepare for Phase 2a development in CIPN, we are increasingly focused on advancing partnering discussions while continuing disciplined, data-driven execution across our pipeline."
As Phase 1 nears completion, MIRA reported that it is finalizing plans for a Phase 2a proof-of-concept study in chemotherapy-induced peripheral neuropathy (CIPN), which is a condition with significant unmet medical need and no FDA-approved treatments. The company announced that it is completing clinical site selection and intends to submit its Phase 2a protocol to the U.S. Food and Drug Administration following the conclusion of Phase 1, with study initiation anticipated in the second quarter of 2026, subject to regulatory feedback. MIRA also stated that it plans to pursue FDA Fast Track designation for Ketamir-2 as development progresses.
COMTEX_473169456/2556/2026-02-08T22:52:58
