Streetbeat News

AVCNF

Avicanna Inc

http://avicanna.com/

Industry

Medicinal and Botanical Manufacturing

Open

0.24

Mkt cap

27M

Volume

11K

High

0.24

P/E Ratio

-4.08

52-wk high

0.53

Low

0.24

Div yield

N/A

52-wk low

0.14

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

Clever Leaves Holdings Inc. partners with Paradise Seeds to develop cannabis cultivars in Colombia, aiming to expand its global footprint. Avicanna Inc. receives approval for Trunerox to treat epilepsy in Colombia, marking a significant milestone. However, Colombian Congress shelved a bill for regulating adult cannabis use, reflecting legislative divisions. This regulatory landscape impacts companies like Clever Leaves, PharmaCielo Ltd, and Khiron Life Sciences Corp, as they navigate the evolving market.

Portfolio Pulse from Nicolás Jose Rodriguez

February 14, 2024 | 4:21 pm

Avicanna Inc. has entered into an exclusive supply agreement with an unnamed multinational pharmaceutical company to launch its proprietary topical products in Europe. The products, developed from cannabinoids sourced from Avicanna's Colombian operations, are expected to be available in six European countries in 2024. Avicanna's shares saw a 4.3639% decrease to $0.2437 per share after the market close on Friday.

Portfolio Pulse from Jelena Martinovic

February 05, 2024 | 2:41 pm

Avicanna Inc. (OTCQX: AVCNF) reported a record 713% YoY growth in Q3 2023 medical marijuana sales, reaching $6.27 million. The company acquired Medical Cannabis by Shoppers assets and launched MyMedi.ca platform. CEO Aras Azadian and CFO Phil Cardella highlighted strategic vision and financial milestones, including an eight-digit revenue figure and improved gross margins of 47%. Despite a 23% increase in SG&A, the company showed business scalability with an adjusted EBITDA loss of $473,000.

Portfolio Pulse from Nicolás Jose Rodriguez

November 15, 2023 | 1:56 am

The article lists the cannabis stocks that gained and lost on August 25, 2023. Notable gainers include Clever Leaves Holdings (NASDAQ:CLVR) and Skye Bioscience (OTC:SKYE), while notable losers include Australis Capital (OTC:AUSAF) and Red White & Bloom Brands (OTC:RWBYF).

Portfolio Pulse from Benzinga Insights

August 25, 2023 | 9:30 pm

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