Avicanna Stock Price, News & Analysis

Avicanna LATAM SAS (OTC:AVCNF) has partnered with Harrington Wellness to launch re+PLAY CBD wellness brand topicals across the United States. The collaboration introduces two initial products: a 3% CBD localized cream and a 2% CBD and 1% CBG transdermal gel utilizing Avicanna's patented deep tissue technology.

The products, developed through collaboration between scientists, athletes, doctors, and certified athletic trainers, will be available through replaycbd.com and select U.S. retailers in September 2025. The CBD and CBG ingredients are sourced from USDA organic certified hemp cultivated by Avicanna's subsidiary Santa Marta Golden Hemp and manufactured in Colombia.

Avicanna (AVCNF) reported strong financial results for 2024, with revenue reaching $25.5 million, marking a 52% increase from 2023. The company achieved significant improvements in profitability, with gross profits rising 94% to $12.9 million and gross margins expanding to 51%.

Key operational highlights include the initiation of a 1,000-patient medical cannabis study, expansion to 42 proprietary commercial SKUs, and completion of several clinical studies, including research on epidermolysis bullosa and musculoskeletal pain. The company's adjusted EBITDA loss narrowed by 68% to $1.4 million, and they successfully repaid $1.3 million in debentures.

Notable achievements include obtaining drug registration in Colombia for Trunerox™, delivering proprietary topical products to a multinational pharmaceutical company, and securing two new US patents for their cannabinoid delivery technologies.

Avicanna (TSX: AVCN) (OTCQX: AVCNF) has announced a scientific and medical affairs collaboration with Vectura Fertin Pharma. The partnership involves establishing a joint Scientific and Medical Affairs Committee focused on enhancing understanding of medical cannabis access and applications in Canada.

The collaboration will focus on working with Canadian healthcare professionals to facilitate research studies and provide evidence-based educational resources. Key objectives include engaging with the medical community, patients, advocacy groups, and insurers to understand medical cannabis access challenges. The initiative will utilize Avicanna's medical cannabis platform, Mymedi.ca, to improve access and patient support.

Avicanna has announced that the United States Patent and Trademark Office (USPTO) has issued Patent No. US 11,998,632 B2 for their self-emulsifying drug delivery system (SEDDS) oral cannabinoid compositions and methods for treating neuropathic pain. This patent issuance marks a significant milestone for Avicanna, a biopharmaceutical company specializing in plant-derived cannabinoid-based products. The company highlights the importance of cannabinoids in advanced drug delivery systems and looks forward to further clinical applications and collaborations with healthcare providers to benefit patients suffering from neuropathic pain.

Avicanna reports its first positive Adjusted EBITDA quarter in Q1 2024, achieving a $17k EBITDA, a significant improvement from a $1.28 million loss in Q1 2023. The company posted record quarterly revenue of $6.45 million, a 451% year-over-year increase, and a 6.5% rise from Q4 2023. Gross margins improved to 51%, up from 42% in Q1 2023. Cash provided from operations was $122k, compared to a $2.05 million usage in Q1 2023. Avicanna expanded its medical cannabis offerings in Canada and received marketing authorization for Trunerox™ in Colombia for treating severe seizures. It also secured supply and licensing agreements for Europe and initiated a research collaboration with a European pharmaceutical company, focusing on cannabinoid delivery technology.

Avicanna Inc. announced the results of a study conducted at The Hospital for Sick Children on the use of their RHO Phyto™ branded Ultra CBD Topical Cream in patients with Epidermolysis Bullosa. The study evaluated wound healing, pain, and itch, with 55% of patients showing improvements in wound healing and 45% displaying wound stability after one month of daily application. The study results will be presented at Avicanna's symposium on May 13th, highlighting the positive outcomes of the CBD cream in treating EB.