Welcome to our dedicated page for Avicanna news (Ticker: AVCNF), a resource for investors and traders seeking the latest updates and insights on Avicanna stock.
Avicanna Inc. (AVCNF) is a commercial-stage international biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived, cannabinoid-based products. The Avicanna news feed on Stock Titan highlights company announcements across its medical cannabis, pharmaceutical, and active pharmaceutical ingredient activities.
Investors and observers can follow updates on Avicanna’s RHO Phyto™ medical cannabis formulary, including clinical and real-world evidence results related to topical creams, transdermal gels, and other cannabinoid-based formulations. News items also cover the MyMedi.ca medical cannabis care platform, which the company describes as a patient-focused service with pharmacist-led support and collaborations with public and private payers.
Avicanna regularly reports milestones in its pharmaceutical pipeline, such as the indication-specific drug registration of Trunerox™ in Colombia for seizures associated with Lennox-Gastaut Syndrome and Dravet Syndrome, as well as patents granted for topical and oral cannabinoid drug delivery technologies. Additional coverage includes export activities and certifications at its majority-owned subsidiary Santa Marta Golden Hemp SAS, which supplies CBD, THC, and CBG under the Aureus Santa Marta™ brand.
By monitoring Avicanna news, readers can see disclosures on financial performance, clinical collaborations with academic and clinical institutions, regulatory approvals, and international partnerships. This page brings together these company-issued updates in one place, making it easier to review Avicanna’s ongoing work in cannabinoid-based medicine and medicinal and botanical manufacturing.
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.
Avicanna has filed a provisional patent application for a novel oral cannabinoid technology aimed at treating neurological disorders. This innovative formulation uses self-emulsifying drug delivery systems (SEDDS) to enhance bioavailability and stability of cannabinoids such as CBD and THC. The submission includes formulations like sustained-release tablets and water-soluble options, promising improved patient outcomes. CEO Aras Azadian emphasizes the potential of these formulations within their clinical pipeline, with further pre-clinical studies planned for 2022.
Avicanna Inc. has partnered with an Argentine pharmaceutical company to commercialize its cannabinoid-based drug candidate Trunerox™ for epilepsy treatment. The partnership will involve licensing Avicanna's proprietary 10% CBD pharmaceutical drug preparation and supplying pharmaceutical-grade CBD for registration with Argentina's regulatory agency ANMAT. Marketing authorization is anticipated in the second half of 2022, targeting a patient population of 400,000 to 500,000. This move marks Avicanna's entry into the Argentine market, enhancing its commitment to addressing unmet medical needs.
Avicanna has expanded its RHO Phyto medical cannabis products to the Caribbean through a partnership with Bryden Stokes Limited, focusing initially on Barbados. This move marks the company's entry into its 13th international market. The initial distribution will include three product SKUs, and the company plans to leverage Bryden Stokes' extensive network to reach the medical community and patients. Avicanna aims to establish RHO Phyto as a leading brand in the region, supported by an educational platform and strategic partnerships, including with Medipharm Labs for product delivery.
Avicanna reported a record gross revenue of $1,007,033 in Q3 2021, signifying a 24% increase from Q2. The company delivered 27,041 units of cannabis 2.0 products, a 61% rise from the previous quarter. The firm has expanded its product listings to 25 across Canadian medical and adult use channels, and successfully entered its 12th international market. A multi-year supply agreement with a Brazilian pharmaceutical partner is anticipated to generate $4.0M in revenue for fiscal 2022.