Cronos Group Stock Price, News & Analysis

Aurora Cannabis (ACB) and 22nd Century Group (XXII) announced a licensing agreement with Cronos Group (CRON) to advance cannabinoid biosynthesis research. This non-exclusive deal aims to enhance the production of rare cannabinoids such as CBG, CBC, and CBN efficiently and with high purity. According to CEO Miguel Martin, the collaboration is a significant step towards commercializing cannabinoid products, which could benefit health and wellness applications. Aurora and 22nd Century also plan to enforce their intellectual property rights against infringements.

Cronos Group (NASDAQ: CRON) reports on its management cease trade order (MCTO) issued on November 16, 2021, due to the inability to file the Quarterly Report on Form 10-Q for the period ending September 30, 2021. The MCTO restricts trading for executive officers until the required filings are made. The company confirms no material changes since the original announcement and is committed to fulfilling alternative information guidelines. Cronos continues to work toward completing the necessary filings and emphasizes forward-looking statements about potential risks and uncertainties.

Beatrice Society has announced the formation of its Board of Directors, appointing Gary Yeoman as Chairman. The board includes seasoned professionals Lorne Gertner and Krisztián Tóth. Yeoman, previously at Voxtur Analytics and Altus Group, aims to build on recent acquisitions in psychedelics and wellness. Gertner co-founded Cannasat Therapeutics and has notable ties to the cannabis industry, while Tóth specializes in corporate finance. The board's expertise is expected to strengthen Beatrice's position in the growing psychedelic therapy market.

Cronos Group (NASDAQ: CRON) issued a default status report after applying for a Management Cease Trade Order (MCTO) due to an inability to file its Quarterly Report on Form 10-Q for the period ending September 30, 2021. The MCTO restricts trading by the CEO and CFO until filings are complete, but not for other shareholders. The company received a notice from Nasdaq regarding non-compliance with listing requirements. No material changes have occurred since the original announcement, and management is actively working on the required filings.

Cronos Group has filed a Form 12b-25 with the SEC regarding its Quarterly Report on Form 10-Q for the period ending September 30, 2021. The delay is due to the Audit Committee needing more time to assess goodwill and indefinite-lived intangible assets for impairment, expecting a charge of at least $220 million. This charge won’t impact cash or revenues, but the Company anticipates filing the complete Form 10-Q within 60 days. Additionally, a management cease trade order has been applied for, restricting trading by certain executives until the filings are completed.

Cronos Group Inc. (NASDAQ: CRON) announced Dr. Todd Abraham's retirement as Chief Innovation Officer after 40 years, with Arye Weigensberg assuming the interim role. Weigensberg, previously General Manager at Cronos Research Labs, will lead R&D while the company searches for a permanent successor. Dr. Abraham's contributions included spearheading the partnership with Ginkgo Bioworks, which led to the launch of the Spinach FEELZ™ Chill Bliss gummy. Cronos aims to continue advancing cannabis innovations and enhancing consumer experience.

Cronos Group has launched its new SPINACH FEELZ™ Chill Bliss 2:1 THC|CBG gummy in Canada, marking a significant milestone as the first cannabis edible of its kind featuring cultured cannabigerol (CBG). This innovative product is created using fermentation methods and provides a unique experience for consumers. The gummies, available in Pineapple Starfruit flavor, contain 10 mg of THC and 5 mg of CBG per package. The launch is part of Cronos's strategy to develop a full line of cannabis products that include rare cannabinoids.

Cronos Group, in partnership with Ginkgo Bioworks, has achieved a significant productivity milestone in producing cannabigerolic acid (CBGA), paving the way for its upcoming CBG product launch this fall. This collaboration aims to create eight cultured cannabinoids, leveraging Ginkgo’s expertise in cell programming. As a result of reaching the productivity target, Cronos Group will issue approximately 1.5 million shares to Ginkgo. This milestone reflects a commitment to innovation and expands access to rare cannabis molecules.

Cronos Group announced that Executive Chairman Mike Gorenstein will present at the Canaccord Genuity 41st Annual Growth Conference on August 10, 2021, at 1:30 p.m. EDT. This event will focus on the company’s innovative approach to cannabinoid products and brand development across five continents. A recording will be accessible through the Investors section of the Cronos Group website following the presentation. The company continues to push boundaries in cannabis research and product development, aiming to elevate consumer experiences with its diverse brand portfolio.