Avicanna Inc (TSX:AVCN, OTCQX:AVCNF) CEO Aras Azadian speaks to Thomas Warner from Proactive after the biopharmaceutical company released a "monumental" Q2 2023 Financial Statement.
The statement revealed that Avicanna recorded a significant increase in revenue, which more than tripled from the same period last year. Azadian attributes the surge in revenue to the acquisition of the Medical Cannabis division of Shoppers Drug Mart, which began feeding performance into Avicanna partway through the quarter.
Azadian emphasises the company's focus on the medical cannabis sector, leading to higher-than-average margins within the industry, and highlighted the launch of medical platform MyMedi.ca as a game-changing development that will significantly contribute to growth during the upcoming quarters.
Looking ahead, Azadian shared insights into the company's future plans, hinting at potential synergistic acquisitions and collaborations.
Avicanna aims to further its presence in the medical community, enhance patient access, and potentially expand internationally.
As the company focuses on execution and innovation, the CEO expressed optimism about the year's prospects and the value they aim to create for their stakeholders.