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Aurora Cannabis Inc. (NASDAQ:ACB) has partnered with Vectura Fertin Pharma, Inc. to launch a CBD lozenge in the form of a dissolvable tablet that delivers the precise dose of cannabidiol (CBD). The new product is expected to enhance patient care by providing an alternative consumption method without psychoactive effects.
The partnership leverages Aurora’s extensive medical cannabis patient platform, said Aurora CEO Miguel Martin, who added that the company intends to broaden Canadian healthcare options with innovative products.
“Our partnership aligns with our commitment to meet Canada’s evolving healthcare needs,” Martin stated in a press release.
Aurora's international sales hit C$39.3 million ($28.9 million) in early 2024. This is a 31% increase year-over-year. Growth was aided by acquiring MedReleaf Australia. Aurora now controls over 30% of Canada's medical marijuana exports.
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Aurora reported increased adjusted cash gross margins rose 69% in June, up from 66% in March. However, operational expenses were 102% of adjusted cash gross profits. Still, Aurora’s net cash position rose to C$63 million. Positive operating cash flows reached C$8.4 million for the quarter.
Aurora Cannabis is valued at C$516 million with an enterprise value of C$543 million. It trades at 1.6 times its current sales, lower than competitors like Tilray (NASDAQ:TLRY) and Canopy Growth (NASDAQ:CGC). A recent analysis done by Pablo Zuanic highlighted Aurora’s solid financial and operational performance, maintaining an attractive valuation compared to its peers.
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