Medipharm Labs Corp - MEDIF STOCK NEWS

MediPharm Labs has secured global manufacturing, distribution, and sales rights for advanced medical cannabis delivery technologies from Remidose Aerosols. This includes metered dose inhalers and aerosol sublingual sprays. The transaction is non-dilutive and based on a performance-driven royalty model. Immediate revenue opportunities arise as MediPharm will take over Remidose's existing sales channels from August 2024, targeting Canadian direct-to-patient platforms and international distributors. MediPharm plans to utilize its GMP infrastructure to expand these products globally. The agreement aligns with MediPharm's strategy to innovate in non-smokable cannabis formats, enhancing its position in the pharmaceutical and wellness-focused sectors.

MediPharm Labs (TSX: LABS, OTCQB: MEDIF, FSE: MLZ) reported significant financial improvements for Q1 2024. Revenue rose by 67% to $9.8M compared to $5.8M in Q1 2023. Gross profit improved to $2.7M or 27% of revenue, up from 6.6% last year. Adjusted EBITDA loss decreased by 70% to $0.9M from $3.1M in Q1 2023. The company has $17M in cash and less than $3M in debt.

MediPharm is optimistic about potential US regulatory changes and plans to leverage its FDA and DEA credentials for future growth. Internationally, they saw a 36% increase in German medical cannabis sales to $1.4M and a 64% rise in Australian sales to $1.8M. CEO David Pidduck highlighted ongoing revenue growth, improved profitability metrics, and strong financial positioning for future investments.

MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) will release its first quarter financial results for the period ended March 31, 2024, on Wednesday, May 15, 2024. The company specializes in precision-based cannabinoids and will host a conference call to discuss the financial results.

MediPharm Labs Corp. releases its full year and fourth quarter financial results for 2023, showing a 50% improvement in annual revenue and adjusted EBITDA. The company specializes in precision-based cannabinoids and hosted a conference call to discuss the results.

MediPharm Labs Corp. (MEDIF) reports a 50% increase in annual revenue to $33M and a 50% improvement in Adjusted EBITDA for the full year 2023. The company shows significant growth in gross profit, a strong balance sheet, and expansion in international medical cannabis markets. MediPharm's focus on profitability includes cost reductions and improving product mix, positioning them for a profitable future.

German federal states have voted to decriminalize personal cannabis cultivation and use, with legislation effective from April 1, 2024. MediPharm Labs Corp. (MEDIF) applauds the move, as it removes medical cannabis from the narcotic list, easing patient access barriers and boosting its German business operations.

MediPharm Labs Corp. announces the release of its full-year and fourth-quarter financial results for the period ended December 31, 2023. The executive management team will host a conference call and audio webcast on March 27, 2024, to discuss the financial results.

MediPharm Labs has received a GMP certificate from the Brazilian Health Regulatory Agency, ANVISA, making it the first pharmaceutical cannabis company in North America to do so. This certification allows the company to manufacture both active pharmaceutical ingredients (API) and end products for medical cannabis patients in Brazil. With a population of 215 million, Brazil has seen a 480% increase in medical cannabis prescriptions in 2022, indicating a significant market opportunity. The certification strengthens MediPharm's global position as a leader in the development and production of pharmaceutical cannabinoids, providing access to the Brazilian medical cannabis market and facilitating entry into additional global markets. The Brazilian medical cannabis market is expected to reach $380 million CAD in 2025, and MediPharm Labs currently manufactures two medical cannabis products with full ANVISA product authorization under Brazil's Resolution 327/19. The company has also entered into a supply agreement with a top-tier generic pharmaceutical company in Brazil, further expanding its market reach. The GMP certification was obtained after a rigorous inspection of MediPharm's manufacturing capabilities and quality management system, resulting in a compliant GMP status.

MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) announced changes to its Board of Directors and employee stock issuance, including the resignation of a founding board member and the grant of 15.48 million stock options and 16.09 million restricted share units. The Company will continue with five board members, reflecting an overall right sizing of the business undertaken in 2023.