Aurora Cannabis Inc Stock Price, News & Analysis

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) has announced significant changes to its Board leadership. CEO Miguel Martin has been appointed as Executive Chairman, while outgoing Chairman Ron Funk has been named Lead Independent Director. These appointments, effective immediately, were unanimously approved by Aurora's Board.

Martin, who has served as CEO since September 2020, will continue in this role while taking on additional responsibilities as Executive Chairman. The Board believes this combination of roles will promote strong leadership and efficient decision-making as Aurora aims for global growth.

In other Board changes, Michael Singer has been appointed to the Audit Committee and the Human Resource and Compensation Committee, while Rajesh Uttamchandani joins the HRCC and the Nominating & Corporate Governance Committee. These appointments are expected to bring valuable expertise to their respective committees.

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) has made significant advancements in auto-flowering research, potentially transforming cannabis cultivation in high-latitude regions. The company has received US Patent 12,002,546 for methods to determine photoperiod sensitivity in cannabis, enabling their breeding program to select for the auto-flowering trait.

This breakthrough could revolutionize outdoor cannabis cultivation, especially in regions like Canada. Aurora's research aims to enhance crop yield and adaptability by exploiting natural variations in cannabis' circadian rhythm. The company's breeding program has already yielded novel cultivars that produce 40-100% more flower than legacy varieties, significantly improving potency and yield while reducing cost per gram.

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) and Vectura Fertin Pharma, Inc. have launched the Luo CBD lozenge in Canada. This marks Vectura Fertin Pharma's first medical cannabis CBD product in the Canadian market. The lozenge, developed by Vectura Fertin Pharma, is manufactured by its subsidiary Cogent and distributed through Aurora's direct-to-patient e-commerce platform.

The collaboration aims to leverage Aurora's leading Canadian medical cannabis patient platform. The novel dissolvable format of the CBD lozenge offers easy dosing for patients. This launch follows the recent announcement of a commercial partnership between Cogent and Aurora, with plans to explore future medical cannabis product launches in Canada.

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) held its Annual General and Special Meeting on August 9, 2024, with 27.23% of issued and outstanding shares represented. All proposed matters were approved by shareholders, including the election of directors, appointment of Ernst & Young LLP as auditors, amendments to various compensation plans, renewal of the Shareholder Rights Plan, and a non-binding advisory resolution on executive compensation.

Notable voting results for director elections include Miguel Martin with 93.29% votes FOR, Chitwant Kohli with 92.37% votes FOR, and Norma Beauchamp with 89.47% votes FOR. The lowest approval was for Ron Funk, receiving 79.26% votes FOR.

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) announced its Q1 fiscal 2025 results, highlighting positive free cash flow of $6.5 million and a 12% year-over-year increase in total quarterly net revenue to $83.4 million. The company achieved record net revenue of $47.2 million in global medical cannabis and generated Adjusted EBITDA of $4.9 million, an 87% YoY increase. Aurora ended the quarter with a debt-free cannabis business and a cash position of ~$182 million. The company's performance was driven by strong growth in the global medical cannabis segment and a record contribution from its Bevo plant propagation business. Aurora's CEO, Miguel Martin, emphasized the company's commitment to operational excellence and strategic growth, positioning it well for sustained positive momentum.

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) and Vectura Fertin Pharma, Inc. have announced a commercial collaboration to launch a new CBD lozenge on Aurora's Canadian medical cannabis patient platform. The product, developed by Cogent International (a Vectura Fertin Pharma subsidiary), will be available to Aurora's patient base, providing valuable feedback and real-world data. This collaboration may lead to the potential commercialization of other Vectura Fertin Pharma medical cannabis products in Canada.

The initial agreement has a 24-month term, with the first CBD lozenge expected to launch later in 2024. Cogent will manufacture, package, and label the products for Aurora to distribute through its direct-to-patient e-commerce sales channel. This partnership aims to advance medical cannabis options in Canada while requiring minimal additional capital investment from Aurora.

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) is reminding shareholders to vote for its 2024 Annual General and Special Meeting, scheduled for August 9, 2024 at 1:00 p.m. Eastern Time. The proxy voting deadline is August 7, 2024 at 1:00 p.m. Eastern Time. The Board of Directors recommends voting FOR all director nominees and proposed resolutions.

Shareholders can attend the meeting via live webcast and are encouraged to review meeting materials available on Aurora's website and SEDAR+. For voting assistance, shareholders can contact Laurel Hill Advisory Group, Aurora's proxy solicitation agent. The company emphasizes that every vote is important, regardless of the number of shares owned.

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), a leading Canada-based global medical cannabis company, has announced its upcoming first quarter 2025 investor conference call. The call is scheduled for Wednesday, August 7, 2024, at 8:00 a.m. Eastern Time (6:00 a.m. Mountain Time). Aurora will release its financial results for Q1 2025 before the markets open on the same day.

The conference call will be hosted by CEO Miguel Martin and CFO Simona King, who will present the results and conduct a question and answer session. Investors can access the webcast through the company's website under the 'Investor Info' section.

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) has been granted expanded cultivation and unique research licenses by Germany's Federal Institute for Drugs and Medical Devices (BfArM) under the new Medical Cannabis Act. The licenses allow Aurora to continue domestic cultivation, add an approved additional product, and conduct R&D on up to seven novel cultivars at its EU GMP facility in Leuna. This expansion builds on Aurora's two-year history of cultivating approximately 1,000 kg of medical cannabis flower annually in Germany. The company views these licenses as recognition of its leadership in the region and commitment to high-quality cannabis production. Aurora anticipates that Germany's regulatory reforms will have a broader effect on the acceptance of medical cannabis across Europe.