Avicanna ( (TSE:AVCN) ) has provided an update.
Avicanna announced a delay in filing its audited consolidated financial statements for the year ended December 31, 2024, due to auditor licensing and personnel issues. The company has applied for a Management Cease Trade Order with the Ontario Securities Commission to prohibit management from trading securities until the documents are filed, expected by April 15, 2025. This delay also affects the 2024 Full Year Earnings Conference Call, which has been postponed. The situation highlights potential operational and regulatory challenges for Avicanna, impacting its financial transparency and stakeholder confidence.
More about Avicanna
Avicanna is a biopharmaceutical company specializing in the development, manufacturing, and commercialization of plant-derived cannabinoid-based products. The company focuses on the global medical and pharmaceutical market segments, with a robust scientific platform that has led to the commercialization of over thirty proprietary products. Avicanna operates through four main business pillars: the RHO Phyto medical cannabis formulary, the MyMedi.ca medical cannabis care platform, a pharmaceutical pipeline of cannabinoid-based candidates, and the supply of active pharmaceutical ingredients through Aureus Santa Marta.
YTD Price Performance: 5.00%
Average Trading Volume: 111,557
Technical Sentiment Signal: Buy
Current Market Cap: $25.03M
Learn more about AVCN stock on TipRanks’ Stock Analysis page.