Streetbeat News

AVCNF

Avicanna Inc

http://avicanna.com/

Industry

Medicinal and Botanical Manufacturing

Open

0.17

Mkt cap

20M

Volume

High

0.19

P/E Ratio

-2.66

52-wk high

0.53

Low

0.17

Div yield

N/A

52-wk low

0.17

Avicanna reported a significant increase in revenue for Q3 2024, with a 75% rise from the previous year, reaching $18.8 million. The company also achieved a consolidated gross margin of 57% during the quarter.

Portfolio Pulse from

November 14, 2024 | 10:30 pm

Avicanna has announced the closing of a non-brokered private placement, which is not intended for distribution in the United States. This move is part of their strategic financial initiatives.

Portfolio Pulse from

November 05, 2024 | 12:30 pm

Colombia's new decree allows the sale of dry cannabis flower locally, benefiting companies and patients. While it seems to protect small producers, it actually favors MIPYMES based on income, allowing many companies to qualify. Regulatory hurdles like sanitary authorization may delay implementation.

Portfolio Pulse from Javier Hasse

October 24, 2024 | 5:29 pm

The European Chemicals Agency is considering classifying CBD as toxic for reproduction, which could lead to a ban on CBD in cosmetics across Europe. This follows France's proposal for a harmonized classification. The decision could impact companies like Avicanna Inc., which are involved in CBD skincare products.

Portfolio Pulse from Jelena Martinovic

September 23, 2024 | 4:20 pm

Avicanna Inc. has secured nearly $2 million through a private placement deal, following a US patent win for its cannabinoid topical formula. The funds will be used for various operational and development purposes.

Portfolio Pulse from Jelena Martinovic

August 29, 2024 | 3:06 pm

Avicanna Inc. has secured a US patent for its topical cannabinoid technology aimed at treating pain and inflammation. This technology, part of Avicanna's RHO Phyto portfolio, offers an alternative to traditional pain relief methods by delivering active ingredients directly into deep tissue layers, potentially providing better efficacy with fewer side effects.

Portfolio Pulse from Juan Spínelli

August 27, 2024 | 6:54 pm

Avicanna Inc. (OTC:AVCNF) has successfully exported its Aureus-branded cannabigerol (CBG) products to Denmark, marking the 19th international market for these products. The export was facilitated through Avicanna’s majority-owned subsidiary, Santa Marta Golden Hemp SAS. Denmark's medicinal cannabis pilot program allows doctors to prescribe cannabis products, providing a new market opportunity for Avicanna.

Portfolio Pulse from Nicolás Jose Rodriguez

August 16, 2024 | 12:56 am

Avicanna Inc. reported an 85% YoY increase in Q2 revenue to CA$6.1 million. The company also completed two successful trials on drug candidates, showing significant improvements in patient conditions. Despite a net loss of CA$1.95 million, the adjusted EBITDA loss narrowed by 65%.

Portfolio Pulse from Nina Zdinjak

August 15, 2024 | 1:08 pm

Avicanna Inc. (AVCNF) reported a 314% year-over-year increase in total revenue for 2023, reaching $12.3 million. The growth is attributed to the acquisition of Medical Cannabis by Shoppers and the launch of MyMedi.ca. Gross profit saw a nearly 500% increase to $6.64 million. Despite the revenue and profit growth, the company reported a net loss of $8.7 million, a 40% improvement from the previous year. Shares of Avicanna traded 2.1450% higher at $0.4 per share after the market close on Monday.

Portfolio Pulse from Jelena Martinovic

April 02, 2024 | 1:18 pm

MMJ.com is expanding its medical marijuana telehealth services to 26 states, enhancing patient access and leveraging telehealth innovation. Tilray Brands, Inc. (TLRY) and Avicanna Inc. (AVCNF) have launched platforms to educate on medical cannabis, while Tyler Technologies, Inc. (TYL) provides a licensing solution for the cannabis industry in Mississippi. The Benzinga Cannabis Capital Conference in Florida will further discuss industry trends.

Portfolio Pulse from Jelena Martinovic

March 01, 2024 | 4:29 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.