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.
NASDAQ Cannabis Titan With Global Reach
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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Profitability And Operational Efficiency in Cannabis
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.
Valuation And Market Position
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.
Read Next: These 3 Cannabis Companies Hold Cultivation Licenses In Germany: A ~$1.8B Market Opportunity?
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This article NASDAQ Cannabis Titan, Aurora, Could Boost 31% Sales Surge With This New CBD Lozenge Partnership originally appeared on Benzinga.com
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