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Avicanna ( (TSE:AVCN) ) has shared an announcement.
Avicanna announced positive preclinical results and a provisional patent application for its novel Powder Drug Delivery System (PwdRx) platform, which enhances the bioavailability and absorption of cannabinoids. This advancement addresses formulation challenges associated with cannabinoids and offers potential new pharmaceutical and commercial opportunities, reinforcing Avicanna’s leadership in cannabinoid science and technology.
The most recent analyst rating on (TSE:AVCN) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Avicanna stock, see the TSE:AVCN Stock Forecast page.
Spark’s Take on TSE:AVCN Stock
According to Spark, TipRanks’ AI Analyst, TSE:AVCN is a Neutral.
Avicanna’s overall stock score is primarily impacted by its financial performance, which is hindered by negative profitability and cash flow issues. Technical analysis suggests a bearish trend with weak momentum, and valuation metrics are unattractive due to negative earnings and lack of dividends. These factors collectively result in a low overall score.
To see Spark’s full report on TSE:AVCN stock, click here.
More about Avicanna
Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of cannabinoid-based products and formulations for the global medical and pharmaceutical market segments. The company has an established scientific platform that includes R&D and clinical development, leading to the commercialization of over thirty proprietary, evidence-based finished products. Avicanna operates through four commercial stage business pillars, including the RHO Phyto™ medical cannabis formulary and the MyMedi.ca medical cannabis care platform.
Average Trading Volume: 60,457
Technical Sentiment Signal: Sell
Current Market Cap: C$26.51M
For an in-depth examination of AVCN stock, go to TipRanks’ Overview page.