•New Jersey has announced a ban on synthetic cannabinoids like delta-10 THC, as the state continues to fine tune its regulation of the hemp-derived and synthesized THC products. The ban is a compromise of sorts, with Governor Phil Murphy initially aiming to restrict all hemp-derived THC products to state-licensed dispensaries before a court ruled the move unconstitutional. As it stands, delta-8 and delta-9 THC products are still legal in New Jersey with the state reaffirming its ability to regulate (and ban) synthetic cannabinoids like delta-10.

•Multistate operator Ayr Wellness reported flat revenue for the third quarter, citing wider economic conditions and increased competition. Sequentially, Ayr reported a 2.6% drop, with Q3 revenues at $114.3 million. Gross profit, however, saw a greater decline both year-over-year and sequentially, with Q3 2024’s gross profit of $43 million 10.6% lower than the year prior and 8.9% lower than the previous quarter. “We remain focused on strengthening execution and are committed to positioning Ayr for sustained growth and profitability. Particularly, in 2025, we plan to expand our presence in Ohio, develop an initial footprint in Virginia, and improve our vertical operations in Florida,” said interim CEO Steven Cohen.

•Fellow multistate player Ascend Wellness also saw flat revenues of $141.6 million for its third fiscal quarter. The company notes that, year-over-year, total revenue inched up by 0.3%, with sequential growth of 0.1%. Retail revenue for Ascend faced headwinds, declining 7.6% year-over-year to $93.6 million, with sequential retail revenue rising 0.6% over the previous quarter. Like many other multistate operators, Ascend is bullish on the adult-use Ohio market, with the company opening five dispensaries. Additionally, Ascend opened another dispensary in Pennsylvania, bringing the company’s retail footprint to 39 stores.

•The Cannabist Company has partnered with Coast Cannabis to bring new THC-infused chocolates and gummies to Maryland and New Jersey. The new products will be rolling out over the next few months in gLeaf and Columbia Care dispensaries in Maryland and Cannabist locations in New York. Both gummies and chocolates will be available in a variety of flavors and potencies, with distinct blends of minor cannabinoids for different effects. In other markets, Coast’s chocolates come in flavors like S’Mores and Almond, Coconut, and Sea Salt, and the gummies in flavors like Raspberry Lime and Boysenberry, among others.