Avicanna Stock Price, News & Analysis

Avicanna Inc. announced an extension agreement for its senior secured term loan, originally reported on August 19, 2021. The maturity date has been pushed back by five months from October 19, 2022, to March 19, 2023. Under this agreement, the company will continue making interest payments and will start repaying the principal monthly from November 2022 until February 2023. The loan carries an interest rate of 5% per annum, calculated monthly. Avicanna focuses on evidence-based cannabinoid products and has a pipeline of pharmaceutical candidates in various stages of development.

Avicanna Inc. has formalized a provisional patent application for its Formulation Candidate aimed at reducing seizures and Sudden Unexpected Death in Epilepsy (SUDEP). This follows successful in-vivo studies conducted with the University of Toronto, indicating significant anti-seizure effects compared to existing treatments. The patent was filed with WIPO, claiming priority from a US application made in September 2022. The company plans to advance this formulation through pre-clinical studies towards future clinical trials.

Avicanna has launched the "Avicenna Academy," a no-cost medical cannabis education portal for healthcare professionals (HCPs). This initiative aims to bridge knowledge gaps about cannabinoid-based products, supporting HCPs with educational resources and practical information. The platform includes modules on various topics, such as the endocannabinoid system and dosing guidelines. Avicanna's efforts focus on expanding access and enhancing patient outcomes in the medical cannabis sector. The portal is part of Avicanna's broader strategy to collaborate with experts and improve training in the medical community.

Avicanna Inc. has expanded its research collaboration with the University of Toronto to study the efficacy of its proprietary cannabinoid formulations in pre-clinical models for epilepsy. Under Dr. Mac Burnham, the collaboration will focus on Avicanna's drug candidate AVCN319302 and the anti-seizure properties of cannabinoids. The research aims to build on previous findings that indicated significant anti-convulsant effects. Additionally, Avicanna is experiencing early acceptance of its medical cannabis product, RHO Phyto Micro Drop 50 CBD, among epilepsy patients, assisting in real-world data collection.

Avicanna has entered an Intellectual Property Licensing & Royalty Agreement with Ei.Ventures to develop and commercialize functional fungi-based products, expanding its portfolio beyond cannabinoid products. This collaboration aims to create products under the Psilly™ brand, including mushroom blends, gummies, and chocolates. Avicanna's R&D team will leverage existing scientific resources to ensure efficacy and proper dosages. The partnership signifies a strategic move into the nutraceutical space, potentially paving the way for future botanical psychedelic pharmaceuticals.

Avicanna Inc. (TSX: AVCN, OTCQX: AVCNF) reported a record fiscal 2021 revenue of $3.3M, a remarkable 108% year-over-year growth from $1.57M in 2020. The company achieved a quarterly revenue of approximately $1.2M in Q4 2021, marking the fourth consecutive quarter of at least 20% growth. A total of 69,000 units were sold in Q4, representing a 160% increase over Q3 2021. Avicanna also expanded its international footprint, entering its 14th international market and launching 16 new “cannabis 2.0” product SKUs, enhancing its distribution in Canada.

Avicanna Inc. has announced a proposed strategic partnership with Tetra Bio-Pharma aimed at enhancing product commercialization and pharmaceutical development. The partnership will focus on three pillars: registration and commercialization of Tetra’s prescription products in Latin/South America, supplying active pharmaceutical ingredients (APIs) from Avicanna’s Colombian operations, and co-development of pharmaceutical drug candidates targeting FDA and Health Canada approvals. This collaboration positions both companies to capitalize on their strengths in cannabinoid-based medicines.

Avicanna Inc. (TSX: AVCN, OTCQX: AVCNF) announced a projected record revenue of $9M for fiscal 2022, driven by cannabinoid-based pharmaceuticals. In Q4 2021, the company reported $1.3M in revenue, marking a 30% growth from the previous quarter, and a 133% increase in total fiscal 2021 revenue to $3.3M. Avicanna sold 70,000 units of products globally, a 160% increase from Q3 2021. The company plans to expand its product offerings and market presence in Canada and internationally, anticipating significant growth through strategic initiatives and a robust product pipeline.

Avicanna Inc. (TSX: AVCN, OTCQX: AVCNF) has entered a Master Supply Agreement with Chilean pharmaceutical firm Knop Laboratorios S.A. to supply cannabinoid-based active pharmaceutical ingredients (API). This partnership, expanding since 2020, is aimed at manufacturing and commercializing proprietary cannabinoid products in Latin America. Avicanna's APIs, including CBD and THC, will support Knop's pharmaceutical products. The collaboration enhances Avicanna's footprint in the southern Latin American medical market and demonstrates their commitment to organic and sustainable practices.