It was a short trading week due to the Memorial holiday on Monday, however, there were still some earnings to report.
MedMen (OTC:MMNFF) warned that COVID had affected its sales beginning at the end of March although the company said that as restrictions begin to lift, sales look to be returning. The company reported revenue of $45 million in the third quarter and a net loss of $76 million. The losses have been trimmed a bit from $96 million in the previous quarter.
Zynerba Pharmaceuticals, Inc. (ZYNE) announced positive top-line results from the exploratory, open-label Phase 2 BRIGHT study The trial was designed to assess the safety, tolerability, and efficacy of the Zynerba drug called Zygel in pediatric and adolescent patients with autism spectrum disorder (ASD)
Organic cannabis company The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) reported revenue of C$3.06 million for the first quarter of 2020 ended March 31, 2020. The company also delivered a net loss of $73.4 million – a staggering amount when the revenues are so small, but it was at least an improvement over the fourth quarter’s net loss of $144 million.
Tilray’s (TLRY) wholly-owned subsidiary High Park Gardens will close its doors over the course of the next six weeks. the company said it expects to realize annualized net savings of approximately C$7.5 million. Tilray acquired Natura Naturals Inc., in a deal valued at C$35 million and has since operated it as High Park Gardens.
We have some stock housekeeping changes.
Aphria Inc.has decided to throw in the towel on its listing at the New York Stock Exchange and is moving to NASDAQ effective Friday, June 5, 2020, after the market close.
Aleafia Health Changes TSX Ticker Symbols from ALEF.to to “AH”. The OTC ticker remains the same.