Streetbeat News

MEDIF

Medipharm Labs Corp

https://ir.medipharmlabs.com/

Industry

Medicinal and Botanical Manufacturing

Open

0.04

Mkt cap

18M

Volume

249K

High

0.05

P/E Ratio

-1.52

52-wk high

0.07

Low

0.04

Div yield

N/A

52-wk low

0.04

MediPharm Labs Corp. reported improved Q2 2024 financial results, with revenue increasing by 8% YoY to CA$10.3 million. Gross profit surged nearly 300% YoY due to cost reductions and production efficiencies. The net loss narrowed to CA$2.6 million, and adjusted EBITDA improved significantly. The company also entered into a licensing agreement with Remidose Aerosols Inc. and began delivering new high-potency medical cannabis products in Germany.

Portfolio Pulse from Jelena Martinovic

August 14, 2024 | 12:50 pm

Vext Science, Auxly Cannabis Group, and MediPharm Labs are set to release their Q2 2024 financial results in mid-August. Vext Science is highlighted for its significant growth potential, especially in the Ohio market. Auxly has shown record-breaking Q1 results and significant debt conversion into equity. MediPharm has entered a licensing agreement for advanced cannabis products and reported a 67% revenue increase in Q1 2024.

Portfolio Pulse from Jelena Martinovic

August 09, 2024 | 3:37 pm

The article highlights recent executive changes in the cannabis industry, including board elections and new appointments at several companies. Notable changes include new board members at Auxly Cannabis Group, iAnthus Capital Holdings, MediPharm Labs, and Glass House Brands. Additionally, Sandy Li joins Viridian Capital Advisors' advisory board, Lowell Farms' CFO resigns, and RIV Capital and Cansortium appoint a new chief retail officer ahead of their merger.

Portfolio Pulse from Jelena Martinovic

July 03, 2024 | 5:08 pm

MediPharm Labs Corp. has entered into a licensing agreement with Remidose Aerosols Inc. to acquire exclusive rights for advanced cannabis products, including metered dose inhalers and pressurized sublingual sprays. MediPharm will service Remidose customers starting August 2024 and aims to expand its customer base using its existing GMP infrastructure.

Portfolio Pulse from Jelena Martinovic

June 20, 2024 | 4:15 pm

MediPharm Labs Corp. (OTCQB: MEDIF) reported a 67% increase in Q1 revenue to $9.8 million, improved gross profit, and a significant reduction in Adjusted EBITDA loss. The company is in a strong financial position with $17 million in cash and less than $3 million in debt, positioning it well for future growth.

Portfolio Pulse from Nina Zdinjak

May 15, 2024 | 11:33 am

MediPharm Labs Corp. has received GMP certification from ANVISA for its facility in Barrie, Ontario, enabling it to produce medical cannabis products for the Brazilian market. This adds to its existing certifications from the FDA, EU, Australia's TGA, and Health Canada. The Brazilian medical cannabis market is expected to reach $281.2 million by 2025. MediPharm has two products with full ANVISA authorization and is reviewing additional products. It also has a supply agreement with a Brazilian pharmaceutical company and a partnership with a Rio distributor. MediPharm's shares rose 2.6923% to $0.0534 after the announcement.

Portfolio Pulse from Jelena Martinovic

February 07, 2024 | 4:05 pm

The cannabis industry is experiencing significant leadership changes as we head into 2024. The Indigenous Cannabis Industry Association (ICIA) hosted a roundtable to discuss hemp and cannabis regulation. Emerald Holding, Inc. (NYSE:EEX) promoted Emilie Lewis to oversee marketing for Marijuana Business Daily. MediPharm Labs Corp. (OTCQB:MEDIF) announced the resignation of board member Miriam McDonald. Lowell Farms Inc. (OTCQX:LOWLF) reported the departure of board member Brian Shure. Trulieve Cannabis Corp. (OTCQX:TCNNF) named Wes Getman as its new CFO, and Organigram Holdings Inc. (NASDAQ:OGI) appointed Greg Guyatt as CFO. Innocan Pharma Corporation (OTCQB:INNPF) established a team for FDA submission for its LPT CBD platform.

Portfolio Pulse from Jelena Martinovic

December 22, 2023 | 9:31 pm

MediPharm Labs Corp. reported Q3 2023 financial results with revenue of C$8.5 million, a sequential decrease but a year-over-year increase. The company saw its highest gross profit since Q4 2019 at C$2.4M and improved adjusted EBITDA. Integration of VIVO led to significant savings, and a strong balance sheet was noted with C$13M in cash. A dispute settlement with Tilray Brands, Inc. resulted in C$9M for MediPharm, including cash, products, and a purchase agreement. MediPharm's stock (MEDIF) traded down 2.23% on the news.

Portfolio Pulse from Joana Scopel

November 14, 2023 | 7:21 pm

Several new cannabis products have been introduced to the global health and wellness market. Cornbread Hemp has launched the first USDA-certified organic CBD Sleep Gummies. UCG Inc. has partnered with Mana Supply to introduce the Dabstract brand to Missouri's recreational cannabis market. Earthy Select has expanded its premium THCa flower product line. MediPharm Labs Corp. has introduced GMP-certified Beacon Medical cannabis products into the Australian medical market.

Portfolio Pulse from Joana Scopel

October 16, 2023 | 1:48 pm

MediPharm Labs Corp. has settled a commercial agreement dispute with Tilray's Hexo for $9 million. The dispute was over a long-term supply agreement for cannabis concentrates. As part of the settlement, Hexo will abandon its appeal against MediPharm. The settlement includes a $3 million immediate cash payment, $4.5 million in Tilray common shares, $1 million in Tilray cannabis products, and a $500,000 supply agreement to provide Tilray with MediPharm products and services over four years.

Portfolio Pulse from Nina Zdinjak

October 02, 2023 | 1:49 pm

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