TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
MediPharm Labs ( (TSE:LABS) ) has provided an update.
MediPharm Labs announced the complete dismissal of a defamation action initiated by Apollo, Nobul, and Regan McGee under Ontario’s anti-SLAPP law. The Superior Court of Justice in Ontario dismissed the $50 million claim against MediPharm’s executives, citing a lack of evidence from the plaintiffs. This legal victory follows previous dismissals of related claims and applications against the company, reinforcing MediPharm’s legal standing and potentially strengthening its position in the industry. Additionally, MediPharm is addressing unauthorized press releases related to Apollo that were disseminated without its consent.
Spark’s Take on TSE:LABS Stock
According to Spark, TipRanks’ AI Analyst, TSE:LABS is a Neutral.
The overall score reflects significant financial challenges, including profitability and cash flow issues, despite a stable balance sheet. Technical indicators suggest neutral momentum, while valuation metrics highlight ongoing losses.
To see Spark’s full report on TSE:LABS stock, click here.
More about MediPharm Labs
MediPharm Labs, founded in 2015, is a pharmaceutical company specializing in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates and advanced derivative products. The company operates a Good Manufacturing Practices certified facility and has a Pharmaceutical Drug Establishment License from Health Canada. MediPharm Labs distributes its products to domestic and international medical markets and expanded its reach in 2023 by acquiring VIVO Cannabis Inc.
Average Trading Volume: 315,313
Technical Sentiment Signal: Sell
Current Market Cap: C$29.45M
For a thorough assessment of LABS stock, go to TipRanks’ Stock Analysis page.