Medipharm Labs (Otc) (TSE:LABS) has released an update.
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MediPharm Labs reports a significant increase in revenue and gross profit in Q1 2024, with revenue up by 67% to $9.8 million and gross profit margins improving to 27%. The company has a strong balance sheet with $17 million in cash and is optimistic about the potential reclassification of cannabis in the US, which could expand research opportunities. MediPharm is also experiencing growth in international markets, particularly following legislative changes in Germany and successful audits for its EU operations.
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