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CBD-Focused Avicanna Reports First-Ever Adjusted EBITDA Positive Quarter, 451% YoY Spike In Q1 Record Revenue

By Jelena Martinovic
May 14, 9:27 AM
Cannabis-focused biopharmaceutical company Avicanna Inc. announced on Tuesday financial results for the first quarter of fiscal 2024.CEO Aras Azadian called it its "best quarter." In addition to being its first EBITDA-positive quarter, it also saw record gross margins.Azadian credited the results to "the proprietary nature of products and services we offer in Canada."

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CBD Helps With This Rare Blistering Skin Disorder, New Study From Avicanna Shows Promising Results In Epidermolysis Bullosa Treatment

By Jelena Martinovic
May 13, 1:56 PM
There is no cure for a rare blistering skin disorder called Epidermolysis Bullosa (EB). But, treatments to help alleviate and control the symptoms do exist. The growing body of research suggests cannabinoid-based medicines help ease pain and pruritus in those with a disorder while improving wound healing.The latest scientifically prove healing power of cannabis was Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products.

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Cannabinoid-Based Products Maker Sees Triple-Digit Growth In 2023 Gross Profit, Revenue Surges 314% YoY

By Jelena Martinovic
April 2, 9:18 AM
Cannabinoids-focused biopharmaceutical company Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) reported on Tuesday year-end 2023 results and audited financial statements. The Canadian company reported CA$16.8 million ($12.3 million) in total revenue, up by 314% year-over-year. Avicanna mostly attributed a surge in revenue to the acquisition of Medical Cannabis by Shoppers from Shoppers Drug Mart and the launch of MyMedi.ca. "2023 was a tremendous year for Avicanna where we solidified our leadership position in the Canadian medical cannabis sector through our proprietary products and the launch of MyMedi.ca," he said. "We have successfully demonstrated the scalability of our revenues and made significant improvements in our fundamentals while advancing all our business pillars."

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CBD-Focused Avicanna Taps Into European Market Via Exclusive Pharma Supply Deal

By Jelena Martinovic
February 5, 10:41 AM
Canadian cannabinoid-based biopharmaceutical firm Avicanna will supply two proprietary topical products to an unnamed multinational pharmaceutical firm in six European countries in 2024. The deal will commercialise Avicanna's RHO Phyto brand in Europe for the first time. The company praised its own proprietary patent-protected technologies being entered into "the European market without competition" as testament to its "scientific and technical leadership in the cannabinoid clinical and commercialisation field", highlighting the deal's strategic nature and geographic position, as well as the expected rapid expansion into other European countries. The unnamed pharmaceutical company manufactures and markets a wide range of pharmaceuticals across four continents and has established a commercial infrastructure in Europe. These manufacturing plants will produce Avicanna's Ultra-CBD cream and CBG Transdermal Gel in 2024.

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