Ascend Wellness Files DEA Applications; The Move Covers Medical Marijuana Dispensaries Across Seven States

Vertically integrated cannabis operator Ascend Wellness Holdings, Inc. (CSE: AAWH-U.CN) (OTCQX: AAWH) has filed applications with the U.S. Drug Enforcement Administration to register some of its state-licensed medical cannabis operations.

The company opted for the move under the expedited process tied to the proposed move of medical marijuana to Schedule III, according to a press release.

It covers dispensaries that serve medical cannabis patients in the company’s main markets. Ascend operates 51 retail locations across seven states, including Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio and Pennsylvania. It has more than 260,000 square feet of cultivation, processing, and manufacturing facilities.

CEO Sam Brill said the filings are an important step for medical cannabis patients and the industry.

“We remain optimistic about what could come next as the DEA hearing on adult-use cannabis rescheduling gets underway,” Brill said. “Further reform will help establish a more level playing field for cannabis operators and could align the industry with more economic opportunities and regulatory frameworks available to traditional businesses.”

The DEA opened public hearings on Monday on the proposed federal rescheduling of cannabis. The hearings are open to the public and will be held through July 15 at its headquarters in Arlington, Virginia.

Ascend Wellness reported $116.9 million in first quarter revenue and positive adjusted EBITDA of $26.3 million. In 2026, the company boosted its retail footprint by adding five dispensaries.

The company also partnered with NuProject earlier this year to launch ROOTS, a six-month program that helps licensed cannabis businesses in Massachusetts and New Jersey prepare to become suppliers for larger companies.

AAWH Price Action

Ascend Wellness Holdings’ shares traded 6.84% higher at $0.5 per share after the market close on Tuesday.