Welcome to our dedicated page for Intercure news (Ticker: INCR), a resource for investors and traders seeking the latest updates and insights on Intercure stock.
InterCure Ltd. reports developments for a medical cannabis company operating as Canndoc, with activities in research, cultivation, production and distribution of pharmaceutical-grade cannabis products. Company updates commonly cover financial results, Adjusted EBITDA, operating cash flow, recovery of production and sales after damage to its southern facility, and the role of Canndoc as a licensed Israeli cannabis producer with GMP-certified products.
News also includes international market activity and partnerships, including German market revenue and brand collaborations, as well as cannabis regulatory developments in the United States and Europe. Corporate items include Nasdaq minimum bid compliance, ordinary-share capital actions, annual meeting matters, material agreements and board leadership changes.
InterCure (NASDAQ: INCR) has expanded its strategic partnership with Cookies, a globally recognized cannabis brand, to Germany. The agreement allows InterCure to cultivate, manufacture, import, and distribute Cookies' branded products in 8 licensed pharmacies across Germany through Cookies Corners. This expansion follows their existing partnerships in the UK, Austria, and Israel.
InterCure will produce Cookies' products at its EU-GMP manufacturing sites, including future offerings like live resin, live rosin, and vapes. The partnership aims to capitalize on Germany's growing medical cannabis market, which saw a 400% increase in prescriptions from March to June 2024 following the passage of the 'CanG' Cannabis Act.
This collaboration combines Cookies' diverse portfolio of over 70 cannabis cultivars and 2,000 products with InterCure's established presence as a leading vertically integrated medical cannabis company outside North America.
InterCure (NASDAQ: INCR, TASE: INCR), also known as Canndoc, announced its participation in the Canaccord Genuity 8th Annual Global Cannabis Conference. Scheduled for May 23, 2024, at the Westin NY Grand Central Hotel in New York City, the event will feature senior management teams from leading cannabis companies. InterCure's CEO, Alex Rabinovitch, will take part in panel discussions, fireside chats, and one-on-one meetings. The conference aims to foster engagement and share insights among industry leaders.
InterCure announced its FY2023 results, with revenues of NIS 356 million and adjusted EBITDA of NIS 61 million. The company's cash on hand is NIS 111 million. Despite challenges from a terrorist attack and war in Gaza, InterCure remains profitable and expects growth in 2024. The company plans to launch products in Germany and closely monitors U.S. cannabis rescheduling.
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