MediPharm Labs ( (TSE:LABS) ) has issued an update.
MediPharm Labs reported a 27% increase in annual net revenue to $42 million for 2024, driven by significant growth in international medical cannabis revenue. The company improved its profitability, reduced operating expenses, and enhanced its gross profit margin. Key operational changes included transitioning operations to the Barrie facility, resulting in cost savings, and the sale of the Hope facility. MediPharm’s strong cash position and debt-free status, along with its focus on international markets and clinical research, position it well for future growth.
More about MediPharm Labs
MediPharm Labs is a pharmaceutical company specializing in precision-based cannabinoids, focusing on innovative and complex pharmaceutical cannabinoid solutions with global applications. The company is involved in clinical research and consultations on Natural Health Products containing CBD, and holds certifications such as the Pharmaceutical GMP certification with the Brazilian Health Regulatory Agency.
YTD Price Performance: 61.90%
Average Trading Volume: 114,363
Technical Sentiment Signal: Sell
Current Market Cap: $29.01M
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