Avicanna Q2 Revenue Improves 85% YoY, Cannabis Company Touts Two Successful Trials On Drug Candidates
Avicanna Inc. (TSX:AVCN) (OTCQX:AVCNF) (FSE:0NN) disclosed its financial and operational results Wednesday for the second quarter of the year. The manufacturer of cannabinoid-based products disclosed revenue of CA$6.1 million ($4.45 million), which is up by 85% year-over-year.
“We are happy to deliver another progressive quarter where we solidified our position in the medical cannabis space, enhanced relationships with the medical community, and stabilized our commercial operations in Canada,” stated CEO Aras Azadian. “In addition, we are happy to report that during the second quarter, we saw the completion of two separate real-world evidence trials focused on two of our drug candidates in line with our long-term growth strategy.”
Financial highlights:
Gross profit of CA$2.8 million and CA$5.9 million, respectively, for the three and six months ended June 30, 2024, compared to CA$1.5 million and CA$2 million for …