Cannabis Drug Firms Eye IPOs After U.S. Reclassification
U.S. marijuana rescheduling is expected to unlock capital for cannabis drug developers. Firms like Ananda Pharma now plan to pursue private funding and IPOs.
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Cannabis drug developers in the United States are preparing for IPOs and private funding rounds of up to $50M following federal reclassification. The Department of Justice moved marijuana to Schedule III, placing it alongside Tylenol with codeine rather than heroin. This shift removes institutional barriers, allowing venture capital and banks to fund a sector previously deemed too risky.
