Avicanna Inc. (T:AVCN)
Business Focus: Biotechnology & Medical Research (NEC)
| Sector: Healthcare | Industry: Biotechnology & Medical Research |
| Company Contact | |
| Address: | 480 UNIVERSITY AVENUE, SUITE 1502 TORONTO ON M5G 1V2 |
| Tel: | N/A |
| Website: | https://avicanna.com |
| IR: | See website |
| Key People | ||
| Aras Azadian Chief Executive Officer, Director | Phillip Cardella Chief Financial Officer | Lucas Nosiglia President of Avicanna LATAM S.A.S. | Stephen Kim Chief Legal Officer, General Counsel, & Corporate Secretary of Avicanna USA Inc |
| Business Overview |
| Avicanna Inc. is a Canada-based commercial-stage international biopharmaceutical company. The Company's scientific platform commercializes over thirty products across various market segments: Medical Cannabis & Wellness Products (RHO Phyto), Pharmaceutical Pipeline and Medical Cannabis Care Platform (MyMedi.ca). RHO Phyto formulary offers a diverse range of proprietary formulations, including oral, sublingual, topical and transdermal delivery. It has developed a pipeline of patent-pending drug candidates that are indication specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates look to address unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders. Its first pharmaceutical preparation (Trunerox) is in the drug registration stage in South America. MyMedi.ca is a medical cannabis care platform that serves medical cannabis patients' needs and enhances the patient's journey. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Avicanna Inc revenues increased from C$4M to C$16.8M. Net loss decreased 41% to C$8.7M. Revenues reflect North America (Region) segment increase from C$3M to C$16.4M. Lower net loss reflects Inventory impairment decrease of 89% to C$260K (expense), Loss on sale of Sativa Nativa SAS decrease from C$1.5M (expense) to C$0K. |
| Employees: | 38 as of Dec 31, 2023 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $32.55M as of Dec 31, 2023 |
| Annual revenue (TTM): | $16.79M as of Dec 31, 2023 |
| EBITDA (TTM): | -$6.64M as of Dec 31, 2023 |
| Net annual income (TTM): | -$8.74M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$1.96M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $1.33M as of Dec 31, 2023 |
| Shares outstanding: | 97,601,896 as of Apr 25, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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