Welcome to our dedicated page for Aurora Cannabis news (Ticker: ACB), a resource for investors and traders seeking the latest updates and insights on Aurora Cannabis stock.
Aurora Cannabis Inc. reports developments in its global medical cannabis business, including product launches, brand expansion and regulated-market activity across Canada, Europe, Australia and New Zealand. The company serves medical and consumer cannabis markets through brands such as Aurora, MedReleaf, Pedanios, IndiMed, San Raf, Tasty's and Whistler, with GMP-certified manufacturing facilities in Canada and Germany.
Recurring announcements cover new formats such as dried flower, pre-rolls, pastilles and resin cartridges; operating and financial results; international market engagement; capital actions; and governance updates. Aurora's news also reflects its medical-first strategy and use of a global manufacturing network to supply regulated cannabis markets.
Aurora Cannabis (NASDAQ: ACB) has launched a new Science & Innovation business group aimed at commercializing patented technology for cannabinoid biosynthesis and plant genetics. This initiative follows collaboration with 22nd Century Group, focusing on optimizing cannabinoid production using their intellectual property. CEO Miguel Martin emphasizes the importance of cannabinoid molecules and the potential for scaling production, particularly for minor cannabinoids. Aurora aims to leverage its advanced research facility in British Columbia to bring innovative products to market.
Aurora Cannabis Inc. has officially transitioned its stock exchange listing from the NYSE to the Nasdaq Global Select Market, effective May 25, 2021. The company's stock will continue to trade under the ticker symbol ACB. This strategic move is part of Aurora's cost efficiency initiatives and aligns the company with other cannabis peers on a growth-oriented exchange. Shareholders will not need to take further action regarding this transition, which will not affect Aurora's primary listing on the Toronto Stock Exchange (TSX).
Aurora Cannabis Inc. (NYSE: ACB) has filed a prospectus supplement for a new at-the-market equity program allowing the issuance of up to $300 million in common shares. This program aims to provide flexibility for potential acquisitions, particularly in the U.S. Aurora's cash position is strong at approximately $525 million as of May 13, 2021, indicating no immediate need to utilize the ATM Program without a beneficial use of proceeds. The program will involve sales through NASDAQ and other marketplaces, not in Canada.
Aurora Cannabis Inc. (NYSE: ACB) has renewed its strategic relationship with Grow Group PLC, signing a two-year market access services agreement for the UK. This partnership, which began in August 2019, aims to enhance patient access to cannabis-based medicines in the UK. Aurora's CEO emphasized the importance of educating healthcare providers and ensuring high-quality medical cannabis is available to meet growing demand. Aurora is committed to serving the European market via its EU GMP facility, Aurora Nordic.
Aurora Cannabis announced its participation in the BMO Capital Markets 16th Annual Farm to Market Virtual Conference, scheduled for May 19 and 20, 2021. The company's CEO, Miguel Martin, and CFO, Glen Ibbott, will hold virtual one-on-one meetings with investors during the conference. Aurora is a leading player in the cannabis industry, with a diverse brand portfolio that serves both medical and consumer markets. Its shares are traded on both the NYSE and TSX under the symbol ACB.
Aurora Cannabis reported Q3 2021 net revenue of $55.2 million, a decrease of 20.8% year-over-year, primarily due to a 53% drop in consumer cannabis sales impacted by COVID-19 challenges. Medical cannabis revenue rose 17% to $36.4 million, supported by international sales growth of 134%. The company plans $60-$80 million in additional annual cost savings, building on previous reductions of $300 million. Aurora retains a robust cash position with approximately $525 million available, enabling investment in organic growth and potential U.S. acquisitions.
Aurora Cannabis Inc. (ACB) will hold a conference call on May 13, 2021, at 5:00 p.m. Eastern Time to discuss its third-quarter fiscal year 2021 results. The financial results will be released after market close on the same day. CEO Miguel Martin and CFO Glen Ibbott will lead the call, which will include a question and answer session. Aurora is recognized as a global leader in the cannabis industry, providing innovative products across medical and consumer markets.
Aurora Cannabis (NYSE: ACB) announced the filing of a new preliminary short form base shelf prospectus, allowing for the qualification of various securities up to $1 billion over a 25-month period. The prospectus will enable the company to pursue strategic initiatives, including acquisitions and partnerships, as part of its global growth strategy. This filing is aimed at maximizing flexibility for shareholder value enhancement. Aurora continues to be a leader in the cannabis industry, catering to both medical and consumer markets.
Aurora Cannabis reported a net revenue of $70.3 million for Q2 2021, an 11% increase year-over-year, primarily driven by a 42% growth in medical cannabis sales. Notably, international medical sales surged 562%. The adjusted EBITDA loss improved by $53.1 million to $12.1 million, despite ongoing restructuring costs. Cash burn reduced by 74%, with cash on hand at $565 million. The company anticipates future cash flow improvement with its cost management strategies.
Aurora Cannabis Inc. (NYSE: ACB, TSX: ACB) has announced a conference call scheduled for February 11, 2021, at 5:00 p.m. Eastern Time to discuss its financial results for the fiscal year 2021 second quarter, ending December 31, 2020. CEO Miguel Martin and CFO Glen Ibbott will host the call. Results will be released following market close on the same day. Aurora is recognized as a leading player in the cannabis industry, focusing on high-quality products for medical and recreational markets.