Mike Tyson has spoken out against the jailing of cannabis users. Picture Getty
Weed Week: Iron Mike throws down challenge to Biden, and recent ASX pot winners
Health & Biotech
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- Mike Tyson has spoken out against the jailing of cannabis users
- Iron Mike owns his own cannabis brand called TYSON 2.0
- We take a look at the best performing ASX weed stocks over the past month
There are currently at least 3,000 individuals in US Federal prisons serving a marijuana related sentence.
About 30,000 more are in state penitentiaries for non-violent cannabis offences.
There is also considerable racial disparity in those jailed, with the majority of individuals being of Hispanic or black descent.
Former heavyweight boxing champ Mike Tyson has now spoken out against this perceived injustice, urging President Biden to follow through on his commitment to “correct our country’s failed approach to marijuana”.
Speaking to the Guardian last week, Tyson said Biden has the power to make a real change.
“He can right these wrongs and grant clemency to those who are sitting in prison for cannabis offences.
“We know the failed war on drugs was wrong and no one should be sitting in jail for cannabis. It’s time our country moves forward and end cannabis prohibition once and for all.”
Biden has long been accused by the cannabis industry of failing to follow through on his promises.
In a 2022 statement released by the White House, Biden wrote:
“As I often said during my campaign for President, no one should be in jail just for using or possessing marijuana.
“Sending people to prison for possessing marijuana has upended too many lives, and incarcerated people for conduct that many states no longer prohibit.
“And while white and Black and brown people use marijuana at similar rates, Black and brown people have been arrested, prosecuted, and convicted at disproportionate rates,” said the statement.
TYSON 2.0
Meanwhile, Iron Mike has been a passionate advocate of cannabis use, going back all the way to his prime days in the 1980s.
He told the media years later that he used cannabis to relax his body and mind before and after fights. He gave cannabis a lot of credit for helping him in reaching the heights he did in his boxing career.
Mike is also a cannabis entrepreneur after founding the cannabis brand TYSON 2.0.
TYSON 2.0 sells three lines of flower: Greenhouse and sun-grown flower with a slightly lower potency, higher-potency indoor flower, and a special “Toad” line of top-shelf strains inspired by Tyson’s psychedelic toad-licking experiences.
TYSON 2.0’s most popular range is the “Mike Bites”, a bunch of gummy cannabis edibles that he promised to “taste better than the real thing”.
To ASX Weed Stocks ….
Here’s how the ASX weed stocks have performed, sorted by winners over the past month
| Code | Company | Price | % Week | % Month | % 6-Month | % Year | Market Cap |
|---|---|---|---|---|---|---|---|
| IRX | Inhalerx | 0.04 | 25.00 | 60.00 | -9.09 | -29.82 | $7,590,678 |
| NTI | Neurotech Intl | 0.105 | 14.13 | 36.36 | 138.64 | 98.11 | $93,963,302 |
| ALA | Arovella Therapeutic | 0.18 | 5.88 | 33.33 | 275.00 | 429.41 | $165,316,123 |
| RNO | Rhinomed | 0.04 | 0.00 | 25.00 | -42.86 | -55.56 | $11,340,969 |
| DTZ | Dotz Nano | 0.165 | 0.00 | 17.86 | -13.16 | -28.26 | $85,881,527 |
| ECS | ECS Botanics Holding | 0.025 | 4.17 | 13.64 | 8.70 | -3.85 | $27,668,267 |
| WNX | Wellnex Life | 0.026 | 8.33 | 13.04 | -35.07 | -49.40 | $28,157,366 |
| BOT | Botanix Pharma | 0.19 | -2.56 | 8.57 | 5.56 | 156.76 | $297,053,101 |
| MXC | Mgc Pharmaceuticals | 0.41 | 3.80 | 2.50 | -86.33 | -95.68 | $17,979,169 |
| HGV | Hygrovest | 0.047 | 2.17 | 2.17 | 4.44 | -32.86 | $9,884,598 |
| VIT | Vitura Health | 0.25 | 4.17 | 2.04 | -44.44 | -54.55 | $143,968,447 |
| ZLD | Zelira Therapeutics | 0.88 | 1.15 | 1.15 | -29.60 | -12.00 | $9,985,496 |
| AC8 | Auscann Grp Hlgs | 0.04 | 0.00 | 0.00 | 0.00 | 0.00 | $17,621,884 |
| AVE | Avecho Biotech | 0.0035 | 0.00 | 0.00 | -50.00 | -63.16 | $11,092,540 |
| BOD | BOD Science | 0.024 | 0.00 | 0.00 | -70.00 | -65.22 | $4,256,124 |
| CGB | Cann Global | 0.021 | 0.00 | 0.00 | 0.00 | 0.00 | $5,614,845 |
| EPN | Epsilon Healthcare | 0.024 | 0.00 | 0.00 | 14.29 | 4.35 | $7,208,496 |
| EVE | EVE Health Group | 0.001 | 0.00 | 0.00 | 0.00 | 0.00 | $5,274,483 |
| LV1 | Live Verdure | 0.495 | 6.45 | 0.00 | 456.18 | 200.00 | $59,027,045 |
| MDC | Medlab Clinical | 6.6 | 0.00 | 0.00 | 0.00 | -4.35 | $15,071,113 |
| ROO | Roots Sustainable | 0.007 | 0.00 | 0.00 | 75.00 | -41.67 | $1,124,217 |
| AGH | Althea Group | 0.037 | -5.13 | -5.13 | -11.90 | -31.48 | $14,653,626 |
| IDT | IDT Australia | 0.098 | 2.08 | -6.67 | 44.12 | 38.03 | $34,444,988 |
| LGP | Little Green Pharma | 0.13 | -7.14 | -10.34 | -25.71 | -35.00 | $39,012,121 |
| WOA | Wide Open Agricultur | 0.145 | -3.33 | -12.12 | -55.38 | -29.27 | $25,958,396 |
| EMD | Emyria | 0.05 | -9.09 | -13.79 | -45.84 | -77.61 | $18,331,470 |
| EXL | Elixinol Wellness | 0.0071 | -10.00 | -18.18 | -18.18 | -64.00 | $4,493,452 |
| CAN | Cann Group | 0.071 | -8.97 | -22.83 | -40.83 | -60.78 | $30,891,035 |
| WFL | Wellfully | 0.003 | -25.00 | -25.00 | -25.00 | -80.00 | $1,478,832 |
| EOF | Ecofibre | 0.086 | -3.37 | -28.33 | -54.74 | -60.91 | $32,583,156 |
| ME1 | Melodiol Glb Health | 0.014 | -6.67 | -30.00 | -90.00 | -95.88 | $3,946,177 |
InhalerX has been rising despite revenue falling by 95% for the full year.
But investors have been happy after the company announced a new focus in its biotech program.
InhalerX said that following pre-IND meeting feedback from the US FDA in March last year, the company undertook a detailed and careful evaluation process, which has resulted in the decision to promote BTcP (Breakthrough Cancer Pain) as the primary indication of focus for the proposed Phase 2 trial of IRX211.
IRX explained that there are many aspects that make BTcP a more attractive acute pain candidate versus CRPS (Complex Regional Pain Syndrome), its previous focus.
This includes BTcP’s well-established condition compared to the paroxysmal pain episodes in CRPS.
An Australian provisional patent application for the Treatment of BTcP was filed at the Australian Patent Office on 21 December 2023.
NTI provided an update on its Phase I/II clinical trial of NTI164 in children diagnosed with Paediatric Autoimmune Neuropsychiatric Disorders Associated with Streptococcal Infections (PANDAS) and Paediatric Acute-Onset Neuropsychiatric Syndrome (PANS).
All 15 patients have now entered into the 54-week extension phase of the trial in late August 2023.
As previously reported, the results showed a statistically significant and clinically meaningful improvement shown across a range of gold-standard assessments over 12 weeks of NTI164 treatment.
Data analysis undertaken at 24 weeks has shown continued improvements in patients with no adverse or serious adverse events recorded from 12-24 weeks.
Arovella has entered into a global, exclusive licence with University of North Carolina Lineberger Comprehensive Cancer Center to incorporate the novel armouring cytokine technology (IL-12-TM) for its CAR-iNKT cell platform.
The technology was developed by Professor Gianpietro Dotti, a pioneer of CARiNKT cells, and was recently published in the prestigious peer-reviewed journal Nature Communications.
When the IL-12-TM technology was tested on mice with neuroblastoma, and the mice were assessed four weeks after dosing, investigators found that CAR-iNKT cells containing IL-12-TM were at much higher numbers in the bloodstream (>10 times) than CAR-iNKT cells that did not contain IL-12.
Investigators also found that approximately 75% of the mice were still alive 60 days after treatment for the IL-12-TM group, while all mice in the group treated with CAR-iNKT cells lacking IL-12 had died.
ECS has secured a $9 million offtake agreement with UK-based Rokshaw for supply of medicinal cannabis dried flower over three years. The supply will commence this financial year with a minimum order volume of 600kg per annum.
ECS has also granted Rokshaw a UK market exclusivity of three strains of GMP medicinal cannabis dried flower.
Wellnex’s TGA registered paracetamol soft gel liquid analgesic has received UK regulatory approval for sales in the UK market.
The expansion into this important European market builds on the launch of the Australian market which commenced in FY23.
The arrangement was signed with UK-based Haleon, a world-leading consumer healthcare company that owns brands including Panadol, Sensodyne, Voltaren, Polident, Centrum, Otrivin and Advil.
At Stockhead we tell it like it is. While Neurotech is a Stockhead advertiser, it did not sponsor this article.
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