Lucy Scientific's Fiscal Year: Operating Expenses Rise As Accumulated Deficit Hits Over $44M
Portfolio Pulse from Lara Goldstein
Lucy Scientific Discovery Inc. (NASDAQ:LSDI) reported its full-year results for the period ended June 30, 2023, showing an increase in operating expenses and a rise in accumulated deficit to over $44M. The company also reported net product sales of $7,048, primarily from sales of its new microdose mushroom capsules. Despite new M&As and partnerships, the company's deficit increased during the yearly period.

October 17, 2023 | 9:19 pm
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Lucy Scientific's increased operating expenses and rising deficit, despite new M&As and partnerships, could negatively impact investor sentiment.
The company's increased operating expenses and rising deficit, despite new mergers and acquisitions and partnerships, indicate financial instability which could lead to a decrease in stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100