Aurora Cannabis Inc. (OTCMKTS:ACBFF) subsidiary, CanvasRx, continues to extend its headship in patient outreach and registration. The subsidiary has helped more than 13,000 patients register with approved producers, including over 2,500 patients listed with Aurora. This shows increase in patient registration of over 30% since being bought by company in August, 2016. The subsidiary has 20 sites across Canada, including Calgary and Edmonton. Five more sites are planned to be commenced before the close of 2016.
The highlights
Aurora has commenced taking receipt of the methodical equipment mandatory for the construction of its onsite lab. The equipment comprises ultra-performance liquid chromatography, gas chromatography mass spectrometry and inductively combined plasma mass spectrometry. Once commissioned and approved by Health Canada, the lab will save company’s substantial money and time by enabling the firm to perform Health Canada required testing in-house. The facility will assure that testing processes are applied accurately and consistently from batch to batch.
Moreover, the on-site laboratory facilities will increase launches by Quality Control of new batches of company’s products to registered patients, reducing time to market and enhancing sales capacity as the Aurora moves up to full production capacity.
The firm’s gross revenues have surpassed $1 million for the last 4 months. Additionally, on November 2, 2016 the company processed 1,096 orders and offered 19,745 grams of cannabis, the firm’s highest volume sales day since commencing commercial businesses. The week between October 28 and November 3 represented company’s largest weekly sales performance ever, with over 50 kilograms sold.
With the recently reported closing of convertible debenture of $25 million, Aurora has considerably improved its current cash position. The company now boasts robust cash positions in the growing cannabis sector, with nearly $48 million in cash available to implement on all the firm’s business plans. These comprise funding the consolidated businesses through to positive EPS and profitability, and the significant growth of Aurora’s production volume.
