CBG Producer Willow Biosciences Reports Record Q2 Revenue, Enters Major Pharma Deal Slated To Be Key Driver Of Growth
Portfolio Pulse from Jelena Martinovic
Willow Biosciences Inc. (OTCQB:CANSF) reported record Q2 2024 revenue, driven by a strategic partnership with Laurus Labs. The company saw a 660% year-over-year revenue increase and reduced costs, despite a net loss of $1.7 million due to R&D investments. Willow expects fiscal year 2024 revenues to exceed $4 million, a 350% increase over 2023.
August 12, 2024 | 7:30 pm
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Willow Biosciences reported record Q2 2024 revenue, driven by a strategic partnership with Laurus Labs. The company saw a 660% year-over-year revenue increase and reduced costs, despite a net loss of $1.7 million due to R&D investments. Willow expects fiscal year 2024 revenues to exceed $4 million, a 350% increase over 2023.
The significant revenue increase and strategic partnership with Laurus Labs are likely to positively impact Willow Biosciences' stock price in the short term. The company's strong revenue forecast for FY 2024 further supports this positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100