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Water Tower Research Head of Healthcare Services and Medical Devices Matt Borsch was joined by John Bencich, CEO of Achieve Life Sciences (ACHV). Bencich provided an overview of the company and its key product cytisinicline, which through multiple clinical trials, has shown strong efficacy and safety in treating nicotine addiction. Bencich pointed to significant progress achieved over the past two years and key targets ahead. Of paramount importance is securing FDA approval for the drug as well as developing a partnership (most likely through a sale of the company) with a major pharmaceutical company to support efficient large-scale commercialization of the product staring in 2025. Finally, Bencich believes the company can reach these goals using existing resources and without the need to raise additional capital.

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Water Tower Research’s Head of Cannabis Jesse Redmond was joined by Margaret Brodie, Interim CEO of Rubicon Organics. She led the conversation by explaining the inherent challenges in the Canadian market and how Rubicon Organics takes a differentiated approach by focusing on premium products. We discussed the benefits of sun-grown organic cannabis and how Rubicon Organics is building brands and generating customer loyalty. Brodie also shared the company’s fiscal discipline that has led to four consecutive quarters of positive operational cash flow. The conversation concluded by discussing export opportunities and the potential to participate in the global market.

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WTR’s Emerging Growth Analyst Thierry Wuilloud was joined this week by Dolphin Entertainment’s CEO Bill O’Dowd. O’Dowd discussed the revenue synergy rationale behind the evolution of Dolphin that now includes leading PR agencies focusing on the entertainment business, as well as leading influencer marketing and events planning businesses. O’Dowd then discussed the next phase in Dolphin’s evolution, aka Dolphin 2.0, which will be to use its internal resources and expertise to promote content businesses, consumer products, and live events in which Dolphin will have acquired ownership stakes. Lastly, O'Dowd discussed the joint venture with IMAX as well as the first documentary developed with IMAX (about the Blue Angels) as a first significant step for Dolphin 2.0.

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WTR’s Life Sciences Analyst Sally Yanchus was joined this week by Jaguar Health’s CEO Lisa Conte.  Conte began by explaining how when climbing Mount Kilimanjaro, she discovered a natural-based plant substance that relieved altitude sickness.  She then founded Jaguar Health, which pioneered plant-based therapies to treat severe diarrhea in HIV/AIDS patients currently on antiretroviral therapy. Jaguar’s lead product, Mytesi, is currently on the market for this indication. Conte also discussed other pipeline opportunities that Jaguar is working on.  

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Water Tower Research’s Head of Cannabis Jesse Redmond was joined this week by Jushi’s CEO, Chairman, and Founder Jim Cacioppo. He began by explaining how his background in the hedge fund business has helped him in founding and operating Jushi. We also explored the progress Jushi has made in cultivation, retail, and strengthening its balance sheet.

Jushi is well positioned in Pennsylvania and Virginia, two markets that are moving toward allowing adult-use sales. Cacioppo shared updates on how these processes are evolving and how Jushi is positioned in each state. The conversation concluded by discussing the potential for political progress and how Schedule III and SAFER Banking would affect Jushi.

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Enthea's CEO Sherry Rais joins WTR's Jesse Redmond to discuss the first psychedelic-focused disruptor benefits administrator in the US, and Enthea's mission to make psychedelics-assisted therapies stating with ketamine more affordable and accessible to the many who need it.  Rais explains what inspired her to establish Enthea, and talks about the challenges and opportunities in achieving its goals. 

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Jesse Redmond, Head of Cannabis at Water Tower Research, reports live from the Benzinga Cannabis Capital Conference in Chicago. Jon Levine, CEO of MariMed, joined us to discuss the steps the firm has taken to make 2023 such a successful year. He shares his thoughts on the recent political progress and gives us a preview of the firm’s 2024 game plan. David Goubert, CEO of AYR Wellness, shares how his background in luxury retail has helped improve AYR’s operations. We also touch on the major markets that may flip adult-use in 2024 and he shares his priorities as we enter the new year. Finally, Shane Johnson, Senior Vice President of InMed Pharmaceuticals, discusses its rare cannabinoid business. InMed acquired BayMedica and he explains how the businesses are complementary and what has been driving the firm’s strong top-line growth. We also touch on its most popular products and how the firm is positioning for success in 2024.

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 Bakkt Chief Product Officer, Crypto Dan O’Prey joins WTR's Tim Regan and Dr. John Roy to discuss Bakkt’s crypto infrastructure business, the company’s history as part of ICE, cyrpto currency differences, Bakkt’s custody focus, and why it is different. The discussion also highlights Bitcoin ETFs, pending crypto regulation, and some of the biggest misconceptions about crypto. 

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Marizyme, Inc. CEO David Barthel joins WTR’s Tim Regan and Matt Borsch to provide an introduction to Marizyme, a fast-growing biomedical company engaged in the accelerated development and commercialization of products from its multi-technology platform.  A key focus for our podcast discussion was DuraGraft, which is the company’s ground-breaking flagship technology that offers a clinically-superior innovation to improve patient outcomes as well as cost efficiency associated with cardiac care, with further applications such as organ transplantation on the horizon. Recently introduced in Europe with planned implementation in the US markets pending FDA approval, DuraGraft has already gained acceptance in key EU markets backed by strong evidence for its efficacy. We discussed the company’s near-term key goals (as well as the inherent risks to navigate) that include strengthening the foundation for commercialization in US markets as well as further product innovation. Finally, we briefly touched on the CEO’s preliminary target of reaching $25 million in annual revenue by 2025 on the way to robust further growth. 

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Poseidon Asset Management Co-Founder and Managing Director Morgan Paxhia joined Jesse Redmond, Head of Cannabis at Water Tower Research, to discuss the recent rally in cannabis stocks. The potential to move cannabis from Schedule I to Schedule III has ignited the space. Paxhia and Redmond covered what’s gone up the most, why these stocks have surged, and what types of names investors may want to own moving forward. They also touched on Maryland launching adult-use sales and contemplated when Ohio, Pennsylvania, and Florida may make the move to recreational cannabis. The conversation concluded with Paxhia sharing the biggest risk we should monitor heading into the New Year.