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

Jelena MartinovicBy , Featured Writer
Burn After Reading The 30-second intel for operators and investors

Ascend Wellness Holdings has filed DEA registration applications for some of its state-licensed medical cannabis operations under the expedited process tied to the proposed Schedule III move, covering dispensaries across its seven-state, 51-store footprint.

  • Operators: Ascend's filing shows a large multistate operator using the expedited DEA route for medical sites now. DEA hearings on rescheduling run through July 15, so operators should expect the regulatory picture to keep moving.
  • Investors: Ascend reports $116.9 million in first quarter revenue and $26.3 million in adjusted EBITDA. Shares rose 6.84% to $0.50 after Tuesday's close, as the DEA rescheduling hearings progress.
  • Do now: Review the expedited DEA registration process for your medical operations and follow the rescheduling hearings in Arlington, which run through July 15, for developments that affect your licenses.
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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.

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Jelena Martinovic
July 1, 2026
Covers cannabis news, markets and regulation for IgniteIt. Previously wrote about financial markets for Benzinga and Insider Monkey.
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