Streetbeat News

INNPF

InnoCan Pharma Corp

https://innocanpharma.com/

Industry

Pharmaceutical Preparation Manufacturing

Open

0.17

Mkt cap

41M

Volume

14K

High

0.17

P/E Ratio

-7.32

52-wk high

0.30

Low

0.15

Div yield

N/A

52-wk low

0.09

Innocan Pharma Corp. (OTCQB:INNPF) reported a 334% year-over-year revenue increase to $6.8 million for Q1 2024, despite a net loss of $1.5 million. The revenue growth was driven by strong sales from its subsidiary BI Sky Global Ltd. Increased expenses, particularly from Amazon platform commissions, contributed to the net loss.

Portfolio Pulse from Patricio Liddle

May 28, 2024 | 2:57 pm

Innocan Pharma Corporation has initiated the FDA approval process for its Liposome-Cannabidiol (LPT-CBD) injectable treatment for chronic pain by submitting a Pre-IND meeting letter. The company's LPT-CBD technology, which has shown efficacy in pre-clinical trials, represents a significant step towards offering a non-opioid alternative for pain management. With the opioid crisis escalating, Innocan's therapy could provide a safer option for patients, tapping into a market expected to exceed $100 billion by 2032.

Portfolio Pulse from Jelena Martinovic

April 23, 2024 | 2:24 pm

Innocan Pharma Corporation reported a 534% revenue increase for the year ended December 31, 2023, reaching US$13.7 million, primarily due to its subsidiary, BI Sky Global Ltd. The company also saw a 61% decrease in operating loss to US$3.8 million and a 568% increase in gross profit to US$12.0 million. Additionally, Innocan completed a $1.5 million capital raise in March 2024 and is pursuing FDA approval for its LPT CBD-loaded liposome platform.

Portfolio Pulse from Patricio Liddle

April 02, 2024 | 8:28 pm

Innocan Pharma Corporation reported a 433% year-over-year revenue increase for fiscal 2023, totaling $13.6 million. This growth is attributed to strong sales from its subsidiary, B.I. Sky Global Ltd. Innocan is also pursuing FDA approval for its human pharmaceutical applications, with pre-investigational new drug applications expected to be submitted soon. The company's LPT platform, which involves injectable CBD encapsulated in liposomes, has shown promising results in pre-clinical trials for chronic pain and drug-resistant epileptic seizures.

Portfolio Pulse from Jelena Martinovic

February 13, 2024 | 8:22 pm

Innocan Pharma Corporation has closed the second and final tranche of its private placement offering, issuing 4,005,408 units at $0.30 per unit for aggregate gross proceeds of $1,201,622. The company intends to use the net proceeds to fund pre-investigational new drug meetings with the FDA, investigational new animal drug meetings with the FDA, and for the expansion of the company's derma-cosmetic product distribution.

Portfolio Pulse from Jelena Martinovic

October 23, 2023 | 5:31 pm

Innocan Pharma Corporation (OTCQB:INNPF) has entered into an agreement with Research Capital Corporation for a private placement offering of units at $0.30 per unit, aiming to raise up to $3 million. The proceeds will be used for pre-investigational new drug meetings with the FDA, expansion of derma-cosmetic product distribution, and other purposes. The offering is expected to close around the week of October 10, 2023.

Portfolio Pulse from Jelena Martinovic

September 21, 2023 | 5:08 pm

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

The cannabis sector experienced mixed performance on August 21, 2023, with several stocks seeing significant gains, while others suffered losses. Notable gainers include Radient Technologies (OTC:RDDTF), Trees (OTC:CANN), and 1933 Industries (OTC:TGIFF), while Red White & Bloom Brands (OTC:RWBYF), CBD Of Denver (OTC:CBDD), and Tetra Bio Pharma (OTC:TBPMF) were among the biggest losers.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 9:30 pm

Marijuana stocks experienced a bullish Thursday with several companies seeing significant gains. Top gainers included EVIO, Tetra Bio Pharma, GrowLife, MGC Pharmaceuticals, Heritage Cannabis Holding, Avicanna, iAnthus Capital Hldgs, TILT Holdings, InnoCan Pharma, Skye Bioscience, Willow Biosciences, OrganiGram Holdings, Village Farms Intl, WM Tech, BZAM, Leafbuyer Techs, Irwin Naturals, Canopy Gwth, CLS Holdings USA, GreenGro Technologies, Vext Science, Cronos Group, Acreage Holdings, Ispire Technology, 1933 Industries, Item 9 Labs, Delivra Health Brands, Ayr Wellness, MariMed, Akanda, and Zoned Props. However, several companies also experienced losses, including Target Group, Radient Technologies, Bright Green, Malachite Innovations, StateHouse Hldgs, Khiron Life Sciences, Cansortium, CBD Unlimited, C21 Investments, Goodness Growth Holdings, Maple Leaf Green World, Rubicon Organics, Agrify, EnWave, Acreage Holdings, Psychemedics, CNBX Pharmaceuticals, Ascend Wellness Holdings, Elixinol Wellness, Charlottes Web Holdings, Incannex Healthcare, SciSparc, SOL Glb Inv, 22nd Century Group, BioHarvest Sciences, TerrAscend, Verano Holdings, SHF Hldgs, and Livewire Ergogenics.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 9:30 pm

The article lists the cannabis stocks that gained and lost on August 14, 2023. Some of the biggest gainers include Choom Holdings, Zynerba Pharmaceuticals, and Maple Leaf Green World. On the other hand, Red White & Bloom Brands, GrowLife, and Tetra Bio Pharma were among the biggest losers.

Portfolio Pulse from Benzinga Insights

August 14, 2023 | 9:30 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.