In our latest Trade To Black podcast presented by FlowHub, hosts Shadd Dales and Anthony Varrell met with Anthony Coniglio, CEO of NewLake Capital Partners (OTCQX: NLCP). We open with a continued look at Definium Therapeutics following the prior day’s Phase 3 news. Then in Segment Two, Sasha Kalcheff‑Korn, Executive Director of Realm of Caring,will join us for our weekly Vantage Standard segment to discuss the type of data CMS is seeking through the CBD Pilot Program.
Anthony Coniglio, CEO of NewLake Capital Partners (OTCQX: NLCP), shared his takeaways from the IgniteIt Conference in Chicago and a subsequent small-cap investor gathering in Las Vegas. He described the mood in Chicago as one of unmistakable optimism, with consolidation emerging as a dominant theme. At the Las Vegas event, NewLake held nearly 21 one-on-one meetings over two days. Coniglio noted a surprising level of existing awareness around cannabis regulatory reform among attendees — a marked contrast from prior years when the company spent most of its time educating investors that reform was underway at all.
The conversation addressed the commonly conflated question of FinCEN versus IRS or Treasury guidance on 280E. Both hosts and Coniglio agree that much of what the market is anticipating under the FinCEN label would more accurately come from the IRS or Treasury Department.
The second segment, features the weekly Vantage Standard series, featured Sasha Kalcheff-Korn, Executive Director of Realm of Caring. Her organization has spent nearly a decade building an IRB-approved observational research registry tracking real-world cannabinoid outcomes across a wide range of conditions and patient populations — precisely the type of data CMS is seeking through its CBD Pilot Program.
She explained how that accumulated data is being applied to the current program, which is operating through Accountable Care Organizations rather than a traditional pharma pathway, and why that structure is well suited to demonstrating cost reduction and improved health outcomes over time. Sleep and pain were identified as the most compelling early use cases, given the comparatively poor side effect profiles of traditional pharmaceutical alternatives.
The episode closed with late-breaking news as the full ALJ hearing schedule was released, detailing the lineup of opponents to rescheduling who will present across the June 29 through July 14 proceedings.
