Shares in Philadelphia-based cannabis company FSD Pharma spiked 324% in premarket trading this morning on news that it had been granted approval by the Food and Drug Administration to submit an application for a clinical trial using a synthetic drug that mimics the action of a molecule found in marijuana to treat COVID-19.
As mass protests over police killings of black Americans continue across the U.S., there’s a renewed push in New York to pass a package of criminal justice reform legislation that includes marijuana legalization.